Opportunity to Start Franchise is Improving

Have you ever thought about starting your own business?  If you’re holding back because of the economy, you may want to reconsider.

The first few months of 2012 have brought some encouraging news for potential franchise owners hamstrung during the recession by a clenched-fist credit market.

Since the collapse of the housing market and near-collapse of the world economy in the fall of 2008, banks facing increased regulation and oversight of their lending practices have been loath to lend money, especially in the form of unsecured loans — the kind that most newly minted franchise owners need to cover their initial investment costs.

Lately, though, franchisors that work with FranNet, the international network of franchise consultants, have reported that their franchisee candidates are finding it easier to borrow money, even in the form of unsecured loans. It’s a sign that the economy is on the road to recovery and that banks are recognizing the benefits of lending money to worthy business ventures. Continue Reading

Want to Be an Entry Level Entrepreneur? Open a Franchise.

College tuitions increase a little more every year. As a result, some students have been looking for ways to offset the expense by working while going to school. Traditionally, college students work during the summers – including paid summer internships – and/or work part time during the fall and spring semesters – again including paid internships. But a new trend has developed recently that is very beneficial to business students looking for experience as well as income.
Franchising is becoming increasingly popular among college students and recent graduates as a way to earn money, get practical work experience and enjoy a little independence. Opening a franchise isn’t solely for recent college graduates looking for an alternative to the traditional entry level job hunt, and it’s not only for business majors. Anyone with the drive and dedication to be a small business owner can give it a try.
People like Faisal Ansari, who runs a College Hunks Hauling Junk franchise knows that there’s a lot of hard work that goes into running a franchise and a willingness to compromise, too. Because a franchisee is actually buying into an already established business – like McDonald’s or Dominos – the business plan has already been set up and a system of operation already established. For some, Faisal says “staying within the confines of a proven system” can be challenging. “Some people are better off being on their own and not owning a franchise, if they think they can do everything their way,” he suggests.
Of course, the whole reason for purchasing a franchise instead of going it alone is because it’s easier to get funding. The fact that a business plan is already successfully in effect is a major selling point with lenders who are confronted by someone with little or no experience in the world of business.

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