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Noviembre 25, 2010

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Business Formatting – What is Franchising?

Deciding whether or not to go into business is a very important step in the business start-up process for new and potential small business owners. Each year, thousands of entrepreneurs and potential entrepreneurs are faced with this difficult decision. Because of the risk and the amount of work involved in starting a new business, many new and potential small business owners choose franchising as an alternative to starting a new, independent business.

Although the success rate for franchise-owned businesses is significantly better than the success rate for many independent businesses, there is no formula to guarantee success. One of the biggest mistakes you can make is to be in a hurry to get into business. That's why it's important to understand your reasons for going into business, and to determine if owning a business is right for you.

If you are concerned about the risk involved in a new, independent business venture, then franchising may be the best business option for you. Remember, however, that hard work, dedication and sacrifice are key elements in the success of any business venture, including franchising.

Source: http://www.sba.gov/idc/groups/public/documents/sba_homepage/serv_sbp_isfforme.pdf

Franchise Tip:  Only franchises listed on the Registry have been found eligible under 121.103(g) for all SBA loans

SBA Franchise Eligibility

If you decide franchising is your best option to start a business, please consider the following top franchises for Hispanics in the U.S.

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