Multi-Unit Franchise Experts

How Do Franchises Work

List of Franchises for Corporate Layoffs

Finding a career or business opportunity after a corporate layoff can be intimidating and confusing. With so many options out there, it can be difficult to find the right choice for your goals and skillset. By researching lists of franchises, you can narrow down your options, easily compare offerings, and get a better understanding of what’s available.

Whether you’re in the midst of a corporate layoff or just want to explore a business venture, the International Franchise Professionals Group (IFPG) can guide you in your franchise journey. Here, we offer answers to frequently asked questions pertaining to franchise options for corporate layoffs.

What Type of Franchises Are Available After Corporate Layoffs?

The type of franchise you go with after a corporate layoff will depend on your personal interests, skill sets, and financial capabilities. Although the most common franchises include quick service restaurants (QSRs), cleaning services, convenience stores, retail businesses, and food service businesses, there are numerous other franchise options to explore.

For instance, senior care franchises, education franchises, printing companies, automotive franchises, real estate franchises, and business-to-business franchises are just a few of the other industries you can explore.

What Are the Minimum Financial Requirements for Franchising?

The financial requirements for franchising vary depending on the brand, franchise costs, and the size of the franchise. Generally speaking, you’ll need a minimum of 30-50% of the startup capital and should also have a source of financing for the remaining balance.

Although some franchise systems have no liquid assets required, most require liquid and net worth. Moreover, many franchise brands expect potential franchisees to have sufficient liquidity to cover three to six months of operations, depending on the franchise.

What Steps Should You Take Before Franchising?

When considering franchising after a corporate layoff, it’s important to ask yourself the right questions. How much can you realistically invest? How much working capital do you have? What type of franchising appeals to you?

At IFPG, we suggest researching various franchises and gaining a better understanding of the obligations associated with franchising. Check with your local and state authorities for franchise regulations, and consult with a franchise expert for free assistance.

Lastly, partner with a franchise attorney and franchise accountant to further review franchise disclosure documents and ask the right questions.

What Are the Benefits of Franchising After a Corporate Layoff?

Individuals who’ve been laid off can benefit greatly from franchising. Not only does franchising offer an established brand by name, business model, and operations method, but it can also provide a level of training, support, and assistance.

In addition, franchising gives the freedom and independence of owning your own business, as well as potential tax benefit opportunities.

Topics:

Franchising,

Corporate Layoffs,

Financial Requirements

Download your free copy!

Explore multi unit franchising opportunities and uncover the mysteries of franchising in this e-book.

And learn to evaluate franchise concepts like an insider.

Request a Franchise Evaluation