Franchise Assistance
A wealth of information exists to help franchise buyers purchase and operate a successful business. Franchisers and numerous organizations provide education and financial assistance for the new business owner.
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Assistance for Prospective Franchisees
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Franchisers often provide assistance to prospective franchisees by conducting market research used in selecting a location. Training in the corporate office as well as in the franchise location is generally provided.
Financial Assistance for Franchises
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Costs to start a franchise usually include a franchise fee, inventory, capital equipment and real estate. Banks and other private lenders provide capital to qualified borrowers.
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Small Business Administration
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The Small Business Association (SBA) may provide financing for those turned down by banks. The SBA also offers franchise assistance in the form of educational programs, licensing, financing and mentoring programs.
Advice From Current Franchisees
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Invaluable franchise assistance can be gained by speaking with current owners, who may provide insight into the daily operation, potential problems and potential cash flows that can be expected with your own franchise.
Warnings Regarding Franchise Assistance
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Always double check the information provided by a franchiser to ensure the validity of any claims made. Projected sales amounts can vary widely by geographic location.
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References
Resources
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