Have You Considered Buying Into A Franchise? | Yellowstone

One of the best ways to start out as a business owner is to buy into an existing business that?s tried and tested. Take McDonald?s and Subway for example; they?re huge multinational companies, and they both offer franchising opportunities. Usually a franchise will cost a few hundred thousand dollars up front ? but you?re buying into a proven business, and you?ve also got scope to expand in the future by taking on even more stores.

Here are some common characteristics of those who might think about investing in a franchise:

• Someone who wants the rewards of running their own business, without taking a huge gamble
• Someone who wants to run their own business, but can?t quite think of an idea, or chisel out a niche to operate in
• Someone who has never run a business before and may not posses all of the knowledge required to do so, but has the capital to invest
• Someone who wants to make a lot of money with a large multinational, but someone who also wants to get their hands dirty and do lots of hard work at the same time
• Someone who likes a challenge

This isn?t an exhaustive list of the characteristics of people who tend to become franchisees ? there are other characteristics out there too.

The best thing about a franchise is that you?re almost guaranteed to succeed, because you?re buying into a business model that has already proven to be successful. Although a lot of people look at franchising as quite a comfortable way of running a business, it does come with its pitfalls too. Although you?re operating as part of a larger company, you still have to maintain the day to day operations of the stores that you own ? which isn?t always easy. Another huge hurdle to factor in is how employees respond to your franchise takeover ? a lot of employees are resistive to change and won?t take kindly to you imposing your management style on them.

We don?t offer funding options for new franchisees, but we do have a host of other business financing options for existing businesses. Here at YellowStone Capital we offer business funding in the form of minority business loan alternatives, equipment financing and even secured business loan alternatives. Make sure you fill out our short form today to see whether you qualify for a business cash advance.

Author: NWhitmore

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Source: http://yellowstonecapllc.com/blog/business/have-you-considered-buying-into-a-franchise

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