Franchise Resources
Check out our collection of franchise resources from across the web. We have broken them down into sections or categories for your convienience.
Franchise Resources
Help from the Small Business Administration (SBA)
There's lots of support out there for veterans interested in business ownership. Besides learning about what incentives and assistance your franchisor offers, be sure to check out these programs from the SBA.
- The Veterans' Business Outreach Center Program (VBOC) provides business training and counseling from 16 locations, as well as online assistance.
- Through the Patriot Express Pilot Loan Initiative the SBA has approved more than $500 million in low-interest small-business loans for veterans, reservists and their spouses since its creation in 2007.
- Service-disabled veterans can receive one year of entrepreneurship training through the Entrepreneurship Bootcamp for Veterans with Disabilities (EBV), a partnership between the SBA and Syracuse University. It is now expanding to six more business schools around the country.
- Also created under the partnership with Syracuse University are Women Veterans Igniting the Spirit of Entrepreneurship (V-WISE) and Operation Endure & Grow, which will offer training to women veterans and reservists and military family members, respectively.
Franchise News & Press Releases
Black Bear Diner Embraces Post-Pandemic Growth
The 25-year-old brand is targeting coast-to-coast expansion in the wake of covid-19. Black Bear Diner is looking to move east as it implements a growth strategy into 2022.
Goldfish Swim School Partners with Four-Time Olympic Swimming Medalist
Partnership Aims to Raise Awareness on the Importance of Learning to Swim, Bridging the Minority Swim Gap & Providing a Role Model for Young Children
Pure Barre Kicks Off Pure Give in November with Free Week of Classes
Campaign for National Gratitude Month Involves 30 Days of Giving Including In-Studio Events and a Referral Giveaway
Buff City Soap Brings Plant-Based Products to Southlake
Customizable Soap Makery to Continue Expansion in The Lone Star State
Dogtopia to Be Featured on Dig App
The nations fastest-growing dog daycare is partnering with the dating app that puts dogs first
Franchise FAQs
The first thing to do is to identify companies offering franchises. IFA's Franchise Opportunities Guide gives a comprehensive list of franchise companies in more than 75 kinds of businesses. The Guide, which costs $25.00 (including shipping and handling), is available by mailing a request and check or money order to IFA Publications, P.O. Box 1020, Sewickley, PA 15143. Orders may also be placed by calling 1-800-543-1038, or visiting IFA's online bookstore at www.franchise.org, where you can find other relevant sources to assist in your decision to buy a franchise. The Guide is also available online at the IFA website www.franchise.org.
You should contact the companies directly, and "shop wisely." "Shopping wisely" requires that you determine how much you can afford to invest and where to obtain financing. Careful investigation prior to purchasing a franchise also necessitates understanding the UFOC. You need to examine what the franchise relationship entails. For instance, you need to inquire into the training and support provided, assistance in finding and developing a location, and the sources of inventory and supplies. You should research the companies' growth and prospects for future growth. You should also seek advice from professionals and business people you respect. By shopping wisely, you can make an informed decision on whether to purchase the franchise.
Among the points which IFA recommends for investigation are:
- The type of experience required in the franchised business
- A complete understanding of the business
- The hours and personal commitment necessary to run the business
- Who the franchisor is, what its track record has been, and the business experience of its officers and directors
- How other franchisees in the same system are doing
- How much it's going to cost to get into the franchise
- How much you're going to pay for the continuing right to operate the business
- If there are any products or services you must buy from the franchisor and how and by whom they are supplied
- The terms and conditions under which the franchise relationship can be terminated or renewed, and how many franchisees have left the system during the past few years
- The financial condition of the franchisor and its system. Both the Federal Trade Commission (www.ftc.gov) and IFA (www.franchise.org ) have many helpful publications and resources. Equally important, IFA recommends that you engage an attorney to examine the contract. It is important to work with an attorney who understands franchising, especially the antitrust laws, the trademark laws, the Federal Trade Commission Franchise Rule, and applicable state laws. It is also recommended that you ask a competent accountant to examine your anticipated expenses, your financing needs, and your prospects for achieving your desired level of profitability before you sign any agreement
Investment requirements differ tremendously. It all depends on the industry and the type of business. Total start-up costs can range from $20,000 or less, to over $1,000,000, depending on the franchise selected, and whether it is necessary to own or lease real estate to operate the business. Moreover, the initial franchise fee for most franchisors is between $10,000 and $30,000. Seventy percent of franchisors charge an inital franchise fee of $40,000 or less. The average investment, excluding real estate costs, is between $350,000 -$400,000. You must discuss the inital fees and opening costs with individual companies, although IFA's Franchise Opportunities Guide can supply general information.
A successful franchisee should be suited to the industry of which he or she is a part, suited to the particular franchise company, and suited to the franchise system generally. Important questions to ask yourself include:
- Am I suited to the industry physically and by experience, education, learning capacity, temperament and financial ability?
- What type of work is most appealing to me; for example, do I enjoy working with food, mechanical things, people, real estate, books and recordings, sporting goods, etc.?
- Am I prepared to work hard and take financial risks?
- Do my advisors, family, and friends think I am adaptable and trainable?
- How do I react to controls?
- Am I a loner - resenting authority and restraints, or can I accept guidance and direction happily?
- If I prefer to act as a passive investor in the franchise, will the company accept this?
- How do I personally feel about the company's image and products and services?
Articles
Half Of All Franchises Are Owned By Multi-Unit Franchise Operators
Multi-unit franchise operators are on the rise. Some buy multiple units in the same brand. A few buy more than one franchise in different but competing brands. Others buy multiple units in totally different sectors.
Finding Hidden Millions in Commercial Cleaning
Anago Cleaning Systems, a leading commercial cleaning franchise organization celebrating its 25th Anniversary in 2014, Anago provides customized cleaning solutions for office and medical buildings, schools, factories, financial and governmental facilities. Anago is a stealth-like franchise concept, unseen by most consumers, as its Master Franchisees enjoy a 9-5 work schedule, run the sales and marketing, and coordinate with Unit Franchisees, who operate outside of normal business hours, to service clients efficiently and effectively.
