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Franchising Offers a New Start When Finding Work is a Challenge

One of the most important requirements of entering a franchise agreement is having the funds to do so, and paying potential fees such as initial franchise fees, royalty fees, costs for real estate, and day to day operational costs are a part of life in business operation.  This aspect of business operation may scare potential excellent franchisees away from the idea.  They may consider it too costly amidst less and less funding availability, even though a prolonged stay in a dead end job or on the market for employment is even less appealing.

Franchisees who enter franchising from former careers or projects that have now come to an end, or even those who operate their franchise as semi-absentee supervisors with other life obligations, can attest to the value of investing in oneself through business operation.  The Small Business Administration’s 2012 funding statistics reveal that even more financial support for franchisees is being provided to get their doors open after signing the initial agreement.  This amounts to a 60% increase in the dollar amount of loans distributed in 2012 and a 34% increase in the total number of loans awarded to franchisees.

Why does this matter when considering all those would-be franchisees currently unhappily employed or still searching for a decent job to make a living?  It matters because it’s encouraging news, and finding the funding needed to step into a franchise system with a compatible concept is possible.  The SBA continues to make franchise business operators a priority, and these statistics reflect that.

The kind of franchisees entering the industry and in search of financial support widely varies to include part-time and full-time franchisees, military veterans who have left behind their former career path along with active military franchisees, and individuals in search of work who have found it difficult even after higher education accomplishments.  This includes those individuals who have worked hard to augment their professional portfolio coming straight out of college and those leaving prison facing challenges locating work.  The varieties of life circumstances are endless when considering the background of the many franchisees in operation across the U.S.

Franchise opportunities continue to create alternatives for individuals who wish to change their lives, whether leaving a job or the search for one or even maintaining other life pursuits while simultaneously operating a franchise.  The gap for many interested in franchising continues to be access to funding, and this need not be an issue for those dedicated to researching their options and discussing their interests with the right potential franchisors.

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