Lending slowdown puts chill on potential franchisers
By Nicole Norfleet
Monday, April 19, 2010
Tim Lynch, 31, wanted a career change.
He was one of thousands of potential franchisees milling about the Walter E. Washington Convention Center for the International Franchise Expo the weekend before last.
With banks freezing up on franchise lending, it's more difficult for potential franchisees to secure the financing they need to get their businesses off the ground. To help solve this problem and attract more franchisees, franchisers have cut start-up costs and some have offered financing themselves.
Lynch, an engineer for a defense contractor, said he was at the conference to get a feel for his opportunities. He walked from booth to booth on the expo's opening day, not sure exactly what kind of franchise he wanted. (Read More)
Monday, April 19, 2010
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When you say the word 'Franchise', most people immediately think of business-based franchises like those that are top listed in popular business magazines every year. But, it is important to remember that there are hundreds and thousands of franchises out there, some that are spectacularly successful, others that are total failures. Obviously, you want to avoid the latter.
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