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I want to open a franchise; however I have very very little net worth and I really don't know where to begin W

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Joyous Hodges - In Franchises - Sep 21, 2011
Industry: Restaurants

Colbert County, AL
Answers (5)
William A. Price
William A. Price
Business Lawyer
www.growthlaw.com
DuPage County, IL

Make sure you can afford the franchise fee plus a full year's costs of operation (check the disclosure documents and current operators for probable costs), either on your own, or in loans and capital you could raise, before you decide to buy any given franchise. There are over 6,000 systems offering franchises in the US, and a lot of brokers selling same. Try working in one for three months before even thinking about buying a unit. Also think about industries where you have management experience and some advisor or family or other business support network possibilities. SBA statistics indicate franchises succeed (and fail) at about the same rate as stand-alone businesses. If you're ready to operate a business, and can raise the capital, you should be ready to bid for one or more units in a franchise system.
Hope this helps,
Bill Price
William A. Price
Attorney at Law
www.growthlaw.com

Web reference: http://archive.sba.gov/advo/research/franchising.html

Nov 5, 2011
Joe and Sandy  Camp
Joe and Sandy Camp

BizAdvocates.com
MT
Premium Broker

Give us a call Joe has many years of experience in franchises. I am sure we could help you find the right fit.

Web reference: http://www.bizadvocates.com/businesses-for-sale/master-franchises/

Oct 4, 2011
Paul E
Paul E

D'lites Ice Cream Shops
NY

You probably should start by deciding what kind of franchise you want. A franchise is still running a business day to day so determine what you know or like. The most popular are food franchises but there are many other types.
Determine your budget...the big ones require cash and net worth.
We license our name and products...we are not a franchise but you might like to take a look at www.dlitesshops.com

Web reference: www.dlitesshops.com

Oct 4, 2011

Laurie,
We have ab SMS/text message mobile marketing company we built and have just decided it is bettr service by someone with franchise/license experience Stateside to launch and roll out. Online interface, all proprietary software, recurring subscription business model and work with all major wireless carriers. Contact me direct if interested and I can provide further details - brian@txt2look.com

Web reference: www.themobileedge.com

Oct 3, 2011
Laurie Pollock
Laurie Pollock
Sr. Franchise Consultant
FranChoice
Lake County, IL

I would be happy to talk with you about your interest in opening a franchise. I am an experienced, professional franchise consultant and offer a free service for people exploring franchise ownership.
Feel free to call me at 1.800.818.9929 or email me: lauriepollock@franchoice.com

Web reference: www.laurie-pollock.franchoice.com/

Sep 21, 2011

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