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Posted June 22, 2012 by

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. (more…)