As layoffs sweep across the corporate landscape, many laid-off employees are left with questions about their options. The International Franchise Professionals Group (IFPG) is a membership-based franchise consulting network formed to provide resources and support for those looking to successfully identify and invest in a franchise business. Here, we answer the most frequently asked questions about franchising opportunities for corporate layoffs.
When evaluating franchise opportunities, laid-off corporate employees are looking for an opportunity to leverage their existing skills and industry experience. A comprehensive understanding of the franchise industry and its components is necessary, and the IFPG’s team of franchise brokers provides advice for those looking to capitalize on their individual backgrounds.
Many of the questions laid-off corporate employees have when considering franchising involve the differences between this business model and their previous employer’s. Franchisors typically provide pre-established business procedures that enable franchisees to launch a business in a shorter length of time with fewer employees. Franchisees can also receive a level of support greater than what they experienced at a corporate job.
For many former corporate professionals, questions arise when taken in context of their existing industry experience. What type of business opportunity aligns with their background? Rather than investing in a business they know nothing about, these employees are looking to leverage their experience to make as much of a success as possible.
The IFPG’s team of certified franchise consultants works with laid-off corporate employees to build a profile of their individual experience, skills, access to capital and financial goals. Developing an understanding of the franchise industry’s offerings then allows the team to point out attractive opportunities that take into account existing skill sets and financial considerations.
Sometimes, what seems like a great business opportunity upfront won’t end up being the right fit once the financial facts are weighed. Through IFPG, laid-off corporate employees can obtain additional information about potential investments without making commitments they may later regret.
The process for investing in a franchise can seem intimidating, even more so for people who recently a lost a job. With that said, IFPG works with a wide range of businesses and franchisors that are comfortable with providing comprehensive advice and support specifically to laid-off workers.
IFPG’s assistance first starts with an analysis of the laid-off personnel’s background and experience, followed by in-depth due diligence conducted on the proposed franchise opportunity. Once a viable opportunity is identified, the team of franchise consultants provides support in the franchise agreement process and begins to pursue the acquisition.
Investing in a franchise is as equally rewarding as it is risky. The IFPG’s team of franchise brokers is available to answer any questions laid-off employees may have, and are prepared to provide resources and support necessary to ensure the success of their investment.
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