Franchise Sizzle!
The Franchise and Biz Op Blog

Affording your franchise can set the dreamers apart from the doers. Financing a franchise opportunity takes organization, skill and perseverance, all three of which are also main personality traits and skills of highly success franchise owners. These days, getting the financial backing to begin your franchise dream takes some ingenuity and intelligent sourcing to boot.

You do have options for financing your franchise, even in difficult economic times.

Financing Your Franchise Opportunity

• Government grants and loans for small businesses offer some very attractive benefits to entrepreneurs starting their own business or franchise. The SBA is both dedicated and helpful to Franchisees looking for the right franchising options.
• Franchisors themselves are often different incentives to new franchisees. Essentially, more people want to open franchises but cannot afford or get traditional loans. Franchisors are offering Incentives such as reduced royalties or waived franchise fees. Franchisors are taking an inventive step by guaranteeing and servicing franchisees’ loans or even lending the money outright.
• Bank loans are not the easiest to get right now if your credit isn’t great, however there are a number of sources that you can tap into for your franchise start up costs, including personal loans from your own retirement funds and going into business with another person to share costs.

In order to begin your franchise you have to have the money to purchase the franchise and all of the related materials, products and startup costs. Take the time to research all of your financing options so that you don’t miss out on the franchise opportunity that is waiting for you.

Affording the perfect business solution for your Franchise Opportunity isn’t always cut and dry and it certainly isn’t always easy. Very few times does the perfect opportunity present itself without requiring work and due diligence up front. After doing your initial research on the right franchise opportunity you will have to put in the necessary work in order to ascertain if that franchise opportunity is within you financial goals and personal drive.

Tight Budgets, Big Franchise Opportunity

Franchise upfront payments and royalties can really add up, so understanding the finances involved is an important part of really planning for your future franchise success. The truth is that not everyone is able to afford the initial payment required by a franchise company, so what can you do if you´re on a tight budget?

Budgeting for Your Franchise

Low cost franchises do exist! They are not the great business myth that some portray them as. There are many franchise opportunities out there that don´t require huge start up fees and you can find one that will fit into your budget and lifestyle. Look for franchises that don´t require building or finding an expensive rental space. In general, restaurants will be some of the highest fee franchises, so if you are on a budget, you will probably want to avoid those.
It might take some time to find a low cost franchise that will fit into not only budget, but your personal lifestyle, passions and drive, but you will find it.

As an entrepreneur looking to find your first hot franchise opportunity, you may be wondering if your hopes and dreams can really translate into an actual, profit-making business. The answer is very dependent on your own personality and drive, and a large part of that comes from believing in yourself.

Franchise Opportunity Success Links to Believing in Yourself

People often say that the best gift a parent can give a child is self-confidence, because believing in yourself is the key to taking risks, following through with that risk and staying with it even when it gets difficult. Confidence is what gives people the ability to take risks and move through obstacles to find the success at the other side. Becoming a franchisor is what it’s all about.

Self confidence gives an entrepreneur the ability for self respect; it helps them trust their instincts and feelings and move them past obstacles that may make other people falter.

The Importance of Self Esteem in Franchising

When you first enter into the franchise industry, franchising itself can be difficult because of the lack of supervision and the relative freedom to make your own decisions. If you consistently question your own decisions and re-think your business choices than franchising can prove to be one long series of worries after another. Self Esteem gives you the ability to make your choices and believe that you have made the right choices and then move forward with them.

Believe in yourself and believe in the franchise opportunity that makes you passionate about owning your own business.

Franchisors that are breaking into the industry and finding real success are often doing so in part because they’ve found a niche market to offer a great product or service without a lot of competition. Of course just offering something unique isn’t good enough, you also have to be better than anyone else around in order to establish the right reputation for when someone else inevitably does try and move into your market!

HOODZ is an emerging leader in hood maintenance and cleaning, offering the opportunity to break into a franchise that is growing now.

The Facts on HOODZ Franchise

• Investment Range: $58,500 – $93,400
• Business Type: Franchise
• Liquid Capital Req: $35,000
• In Business Since : 2008
• Units: 39
• Training & Support: Yes

The HOODZ franchise is a national franchise offering commercial food service industry products and services. Poised for aggressive growth, the HOODZ franchise opportunity offers its franchisees with the proven system, brand equity, training and support that no one else is offering. In consistently keeping commercial kitchens compliant with NFPA Standards, HOODZ solidifies its position as an important player in the ever expanding world of restaurants and commercial kitchens that are in need of these unique services.

• Repeat, predictable business with repeat predictable revenue
• Nationwide accounts to complement local accounts
• Great complement to air duct cleaning and HVAC restoration
• Minimal equipment investment
• Recession-resistant needs-based business

If you have been looking for the right franchise opportunity that is poised for growth now in a niche market, then HOODZ is a great potential for you.

A franchisee relationship is highly beneficial as it gives an entrepreneur the opportunity to go into business for himself.

There is a lot of work involved in franchising, as well as a certain amount of risk involved in investing. The franchisor has already done much of the initial work in developing the brand and the business plan to success and, as is the case with many franchisors, continues to receive royalties for the franchise from franchisees. Make no mistake, however, this doesn’t mean that the franchisee will do all the work while the franchise reaps the benefits.

Establishing your own franchise a huge step and requires commitment and drive as well as a proven, solid business plan that can be easily replicated. A franchisor started their own business and worked and drove until that business was not only a proven success, but a success that could be replicated and a success that could branch out to entirely new territories. A franchisor has done all of this and is now looking for franchisees with that same drive and passion to succeed.

When you being your search into franchising, remember that every franchisor started their own business and learned how to grow and build with personal charisma and intelligence and hard, hard work. You will be held up to those same standards.

If you dream of becoming a franchisor, beginning as a franchisee can give you the experience and knowledge that you need to move forward with your own business dreams.

The profile of some of the most successful franchises out there also includes within the group some of the most driven and intelligent franchisees. Yes it is true that succeeding in the franchise industry means you have to have a superior product and brand with top-quality leadership in the franchisor, but once those things are in place it is the continued placement of high quality franchisees that keeps the business op top.

Franchisees Drive Continued Success

Franchisors are so choosy about their franchisees because their continued success depends on the quality of the men and women that are running the business from their own locations. A franchisor can see some common qualities among franchisees, including drive and passion as well as raw talent and real experience.

Traits of Successful Franchisees

One of the hallmarks of a successful franchisee personality is that of an individual with a penchant for taking risks. This doesn’t mean that a franchisee only works alone, however, because the relationship between a franchisor and franchisee is a partnership.

Franchisees must be able to adjust to many different business practices in the industry, as the path to success usually requires the ability to keep up with changing markets

Successful franchisees have found a way to turn a beneficial business arrangement into something more because they took advantage of what they brought to the table already. Instead of relying on just what a franchise can do for you, think about what you can bring to the franchise that will make yours and over the top success.

Many businesspeople start Franchising in order to create their own business empire and bring in a steady cash flow, all the while being their own boss. In fact, working for yourself and managing your own decisions as well as driving your own success are some of the biggest motivators in Franchising, but not everyone wants to go into franchising full time or depend on it as their sole source of income. In fact, many people enjoy franchising on a part time basis.

Franchising Part Time

While some may wonder about the draw of Franchising part time, those that have entered into franchising this will way will say that they are in it for the personal satisfaction and love of their particular business, and the secondary income is great, too.

The truth is that not everyone who invests in a franchise is looking for a full-time business. Especially for those that already have a job that they really enjoy, leaving that position wouldn’t make sense. At the same time, they have a passion for owning their own future and business, so part time Franchising is the perfect solution.

Part time franchises can be great option for those who are looking for a business to run during their off hours, such as on weekends or evenings, while still offer the full control and flexibility they need.

Whichever type of franchise you choose for your second income, rest assured that it is something many people successful do and love!

One of your first tests as an individual entrepreneur is going to be researching and choosing a high quality, reputable and successful franchise. The truth is that not every franchise is a good one, no matter what kind of hype surrounds it. Yes, there is an increased chance of success when you use a franchise model as a jump off point but this doesn’t mean that all franchises are going to be successful. Carrying that one step further, even if a franchise is fantastic and profitable, this does not mean that that particular business is going to be the right model for you.

As a professional and successful entrepreneur, you want to find a franchise to invest in that is reputable, solid, with great franchisee reviews and a phenomenal business plan.

When you are doing your Franchise Opportunity Research, look for the following elements that can be very valuable pointers towards a great franchise opportunity:

• A Franchise that will allow you access to speak with existing franchisees
• Personal vetting and interviews with an evaluation period. If your potential franchise wants you with no questions asked other than if the check is viable, you should walk away.
• Rapid responses to your questions is necessary

A franchise opportunity is only as good as the company and the people behind it and the driven businesspeople who live it every day. Use your common sense when communicating with a potential franchise opportunity and walk away if you feel it isn´t right for you. There are plenty of highly reputable franchise opportunities available and you will find yourself the right one.

A franchise industry is all about finding the right franchise opportunity that matches you particular needs, skills, drives and passions. It is less about finding a particular franchise and more about choosing which industry you want for your future and then working back from there to choose a particular business.

Franchise: Know Your Match

The good news that finding the right franchising industry is just play fun. An experience in finding more about yourself, your drives and you needs and looking for that perfect partner to meet those needs and become a success, together. Remember that the most successful franchisees are those who are passionate about their franchise business.

Your Franchise May Be Waiting for You Right Now

The right franchise opportunity may already be out there right now, for sale, waiting for you to take it to the next level of success. The problem is finding that right franchise at the right time. The solution comes from knowing where do you look for your franchise opportunity in the first place. Doing a search online will turn up quite a few results, but if you have something specific in mind already, the results found often are not quite what you are looking for.

You will be far better off finding a couple of trustworthy websites where you can keep checking back with to see new franchise opportunities that are going to be offered

Finding your franchise opportunity is an adventure that is waiting for you, right now.

A large amount of franchise opportunities require some sort of retail space as a base of operations to market and sell their product or service. For the franchisee, this has traditionally meant a need for funds to lease retail space, which can be very costly. For many years this was a detractor to such a franchise because the cost of retail space was so high. In the current market, however, there is a surplus of small business retail space, which makes this type of franchise more financially lucrative.

Retail space has, in the past, been in high demand with little supply of storefronts in high-traffic areas, especially the small under-5,000 square feet type of spaces. Right now, though, landlords and real estate companies are offering these prime spaces at minimum prices. A great option is to also haggle out a multi-year lease at the same low price.

The Hartford Courant carried a story about the surplus of retail space and the west-coast chains that are looking to take advantage of those open vacancies.

“But with rentals dropping because of vacancies, we’re going to attract a lot of California and Midwest chains that have never been here before,” he said. “It will mean a lot more choice for shoppers.”

That possibility isn’t lost on other developers.

“I’ll be spending the first week of March in California, just meeting with prospective new tenant after prospective new tenant,” said WS Development’s Sierra. “A lot of these shopping centers could look different a year from now. Outside of the Northeast, there’s a lot of awareness that the recession spells opportunity for expanding retailers.”
It’s a tenants’ market right now, and when you are dealing with big, national name-brand tenants, they are not at all bashful about asking for expensive changes before they lease space

Now is a great time to consider a franchise that requires real estate space as a base of operations for sales or services. The space is there, the cost is low and you’re out of pocket expenses will be decreased. Franchise opportunities that require leased space are really opening up.