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Turning your Business Into A Franchise

Posted on by ProfitStreet

Whether or not to turn a business into a franchise is a question that most successful business will be asking themselves at one point or another. The decision to turn your business into a franchise takes a lot of thought and consideration. If you are debating whether or not you want to begin the steps of franchising, then it is wise to speak with experienced franchise brokers.

Here at Profit Street, not only do we help people purchase franchises, but we also assist them in creating a franchise out of a business model that they currently have. In starting a franchise there are tons of legal hoops to jump through in order to ensure that you are legally protected in anticipation of any outcome.

At Profit Street we help business owners navigate the process of franchising their business. We have extensive experience in franchising process and we are here to help others do the same and pursue their business dreams. The entire process of franchising can take up to several months to complete depending on how much time you can commit to and your prior knowledge. With our experience in starting franchises we can help make the process as smooth as possible for you and help you take the first step on the road to success.

I want to franchise but I don’t have start-up capital

If you have a great business model that you would like to turn into a franchise but don’t have the money to do so then Profit Street can help. We do provide funding for particular businesses that are looking to start a franchise program. It should be noted however that we are very selective in who we partner with and invest in.

Depending on your business model and goals for franchising the start-up costs can vary greatly. One of our objectives at Profit Street is to help you determine the amount of capital that you’ll need as the franchise founder in order to get everything running efficiently. Then once you know what your goal is, we can help you come up with a strategy on how to get there.

If you are interested in starting your own franchise or buying a franchise that already exists, then call the experts at Profit Street today and let us help you accomplish your business goals. (888) 781-4473

 

Start a New Business for the New Year

Posted on by ProfitStreet

If your goal to hit the gym at 5:30 every morning is starting to wane as you settle in to 2012, maybe it’s time to think outside the box of normal new year’s resolutions. Here’s one you can try: start a new business!

What better time than January to dust off those old ambitions and reevaluate the future of your career? If you’re unhappy with where you’re at in your job, you’re probably ready to make a change. And if you’ve spent years working under someone else’s rules and catering to a manager’s preferences, it could be time to be your own boss.

If the idea of starting an entirely new business seems overwhelming, you should strongly consider opening a franchise. A franchise provides that ideal middle ground. You’ll manage your own business, but you won’t have to come up with your own product and brand, etc. It’s like having a pre-packaged business handed to you, tried and true and ready to go!

If 2012 is your year, all you need to do next is decide what type of franchise you want to open. Food? Retail? The world is your oyster! If you want to make your job especially easy, our franchise brokers can give you the guidance you need to find the perfect fit. And, it’s free — so save your money for your business ventures!

How Much Does it Cost to Buy a Franchise

Posted on by ProfitStreet

The first question that prospective franchise buyers generally ask is: “How much does it cost to start a franchise?” This question is often used interchangeably with “how much does it cost to BUY a franchise?” It should be noted, however, that these are two very different things. Starting a franchise refers to someone who owns a business, or perhaps has an idea for a business and would like to turn it into a franchise.

Buying a franchise, is purchasing the rights to own and operate a business that has already been created. McDonalds, Dairy Queen, and other popular fast food restaurants are great examples of franchises that are available to purchase. Buying a franchise could cost as little as $14,000 or as much as several million dollars depending on the industry and type of franchise. At Profit Street our team of franchise brokers is dedicated to working with potential franchise buyers and helping them find the right fit. With hundreds of opportunities spread over several industries we are certain that we can help you find a franchise that works for you.

If you are wanting to turn your business into a franchise then you need to be aware that there is a lot of paperwork involved and that the costs can vary greatly, along with the time that it takes to complete the franchising process. If you have an idea for a business that you would like to franchise then the experienced team at Profit Street can also help you with that process.

How Long Does it Take to Buy a Franchise?

The amount of time that it takes to purchase a franchise is completely up to you. The assessment that we provide at Profit Street takes just a few days to complete, and once we provide you with the results, the time that you take to consider your options is completely at your discretion. It should be noted however, that in order for most franchisors to get into serious discussion with you, you will need to show them that you are seriously committed and have plans to open a franchise within a reasonable time frame. A reasonable time frame for opening a franchise can range from 2 weeks to 12 months depending on what type of building, licensing, etc. is required to start.

What is the First Step?

There are several ways to go about purchasing a franchise. The first and most important thing you want to do is research the available franchises and see what is the best fit for your personality and for your budget. Since there are thousands of options when it comes to franchising, Profit Street offers a free assessment that helps us narrow down your search and present you with opportunities that you’ll be most interested in. To begin the process of buying your own franchise, call the experts at Profit Street today! (888) 781-4473

 

Bad Credit: A Franchise Deal-Breaker?

Posted on by ProfitStreet

You’ve got that entrepreneurial spirit — but maybe you’ve got a track record that has less success but an abundance of risky ambition. If a few failed business ventures or poor investments have left black marks on your credit history, you might feel reluctant to jump in again. If you’ve got your eyes on a new franchise venture, however, what are you going to do?

Luckily, bad credit doesn’t necessarily spell the end of the road in the world of franchising. If you need to take out a loan to finance your newest business adventure, you’ve still got options. First of all, lenders evaluate aspects other than your credit score. They will want to see how much cash you have to invest, what collateral you can offer, as well as your managerial track record.

That last element might just be your saving grace if you’ve had a couple businesses tank in recent years. Lenders are just as aware of the economy of anyone else — they’ll be wary of a poor credit score, but in a a time where everyone’s wallets are hurting, they’re likely to be a bit more understanding. If you can pack your application with high quality references and testimonials from past employers and coworkers, it can really help your cause. Make them see that just because your product or service wasn’t well received, it doesn’t meant that you don’t know how to successfully manage a business.

So, if you’ve got that next entrepreneurial vision on the horizon, stop making excuses for yourself! Pull together your strongest portfolio and be as prepared as possible to present yourself to potential lenders. If you have confidence, it’ll show — and it’ll make someone else more likely to have confidence in you, too.

If you want advice more specific to your personal situation, Profit Street can help you find experienced franchise brokers that can answer all your questions.

What is A Franchise Broker?

Posted on by ProfitStreet

A franchise broker is a lot like a realtor. When you’re looking to buy a house you meet with a realtor who gets to know your personality, asks about your criteria in a new home. They then give you personalized recommendations on homes that they think you might like based on your wants and needs. Similarly, franchise brokers help you sift through the thousands of franchises that are available and help you find the perfect fit.

What are the Other Benefits?

  • Our Service is Free- At Profit Street our brokerage services are completely free to our clients. We receive compensation from franchisors when we find qualified individuals that become franchisees in their system. All of the franchising fees and process will be the same whether or not you use our services. Getting help from the franchise experts just makes sense!
  • Save Yourself Some Time- There are over 4,000 concepts, spread across 75 industries and if you try and narrow down the opportunities on your own you could end up wasting precious time. One of the benefits with working with the educated franchise brokers at Profit Street, is that we provide a Prospective Owner Assessment. This valuable information is used to best match you with franchises that fit all of your needs.
  • Be Informed- With so many different opportunities it is easy to find yourself feeling overwhelmed and undereducated. With the help of a franchise broker you can make confident decisions about what direction to go with your new business. Buying a franchise shouldn’t feel like taking a shot in the dark. If you are considering purchasing a franchise then you owe to yourself to do your homework. We can help!

2012 is just around the corner and with the start of a new year comes a renewed sense of vision and ambition. If you’re determined to be your own boss, and have control over the money you make and the hours you work, then you should consider buying a franchise with a business plan that has already proven successful. Give the expert franchise brokers at Profit Street a call today, and let us help you pursue your passion for business and achieve your dreams. (888) 781-4473