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Has anyone ever bought a franchise? I'm not sure if this is the right place to ask!

I've been in touch with a company that doesn't have a franchise program, but is interested in having an Australian branch. Since I initially contacted them it took a while for them to reply* and I decided to go it alone, but now they've gotten in touch I need to decide what the pros and cons are. Basically they'd train me and I'd operate under their name. Other than that, I'm not really sure what to expect to have to give them either upfront or on an ongoing basis. How do franchises generally work?

* They explained why and the reasons were completely understandable!

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