The BizBuySell Small Business Community

  • Get Expert Advice

  •  • Find Local Service Professionals

  •  • Share Your Experiences

Is it possibble to get a franchise with very little net worth?

I've always wanted to start a franchise where I live but they all seem to require people to have a large amount of net worth. I fell very confident I can get loans and investors but I do not have a great deal of net worth, so do I have a chance?

No User Photo

Answer This Question

max 5000 characters

Web Reference (optional)

e.g., "www.mywebsite.com"

Review Community Guidelines

Help keep our Community clean and on topic. The BizBuySell Community is a place where you can discuss your questions, concerns and knowledge with others you can trust. It is not OK to use this forum to solicit others for personal or financial gain, or to rant about personal issues. It's all in the guidelines.

Submit Your Answer
Answers (7)
Lisa Molina
Life Beyond the Rat Race
live like a CEO, play like a kid
Los Angeles County, CA

HI Phillip,
The most important thing is what kind of business do you want to be in?
Where there is a will - there is a way! and if you have passion for what you do, it will Drive you. networth or not.
Our business concept takes low overhead $100/mo and small amount of start up capital. ($2500-23,000). If you believe in Positive Media and educating Entrepreneurs, let me hear from you.
We have a proven platform ( similar to a franchise) so business owners are profitable right away.
Lisa - 480-575-5670 or lisamolina@lifebeyondtheratrace.com

Jun 29, 2010
No User Photo
FranOption
Gwinnett County, GA

yes it is possible depending on the business concept you are looking to purchase

www.franoption.com

http://www.franchiseopportunityfinder.com/?feref=dmarks

http://www.benetrends.com/track/deshawn@franoption.com

Mar 10, 2010
No User Photo
The BAF Group LLC
MD

All the prior responses have been true, but flawed in providing the entire picture. The majority of businesses fail because of poor planning and - this is the part you need to understand - a lack of Capital. And the Capital you need to think about, regardless of whether you are buying a McDonald's franchise or selling Amway out of your home, is that you have to understand the Cash Flow demands of the business, exactly how you plan to operate it, the Cash demands on the business, as well as your own, personal needs during the start-up phase.

Moreover, if the business is successful, you are going to need additional Capital in order to grow it. Even if you are selling Amway products, the money you generate will need to be put back into the business, in order to purchase additional products that have been ordered. The turnaround time in getting your money back may be short; but it will still require that you put the money out, first. There are any number of examples of companies that have grown quickly and gone bankrupt.

Be very wary of people telling you that you can start your own business for nothing! They are correct; but can you keep it going? Can you survive? That's where the planning comes into play. You need to research and know the entire, short and long term picture.

Jan 27, 2010
No User Photo
tradingpoints
chairman

SIR
WITH DUE RESPECT
WHAT YOU CAN INVEST
IF YOU CAN RUN WEIGHT OFF FRANCHISE,
NATURAL HEALTH AND FITNESS BUSINESS / FRANCHISE
ALL THESE BUSINESSES YOU CAN RUN FROM HOME
WITH MINIMUM POSSIBLE INVESTMENT
YOU DO NT WORRY
ONE ALMIGHTY IS ALL IN ALL
HE WILL BLESS
FOR ANY OTHER CLARIFICATION AND GUIDANCE
CONTACT ME AT tradingpoints@yahoo.com
AND PH. +92-322-7472837
REGARDS
SHEIKH

Jan 26, 2010
Jon Holmquist
Edgemaster Model 400 sharpener
President
Marion County, OR

Hello Phillip, all I can say is check us out. We will talk turkey on the first email. Get in on the ground floor and grow with us. Jon at Edgemaster Mobile Sharpening.

Jan 26, 2010
Robert Cutler
Attorney
New York County, NY

Phillip, if you can get investors to put up the cash you should have no problem. The franchisor will not care about your net worth.

Jan 25, 2010
No User Photo
NEW ENGLAND KITCHEN HOOD CLEANING
OWNER
Providence County, RI

Hi phillip, What kind of franchise are you looking for? My business is the kind you can start from home so it's a low overhead business with a high profit margin, my services are mandated by law and recession resistan. check us out www.newenglandexhaustcleaning.com or contact me at byron@newenglandexhaustcleaning.com
Best regards....
Byron Lurssen
CEO.
401-256-2918

Jan 23, 2010

Start a Discussion