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FAQs by Stay-at-Home Parents on the Best Franchises to Open

As parents try to re-enter the workforce on their own terms, many of them are turning to franchising as a smart way to keep their familial obligations while earning a living. If you are a stay-at-home parent who is considering a franchise, you are likely full of questions.

Today, we will answer some of the frequently asked questions posed by stay-at-home parents who are looking for the best franchise opportunities to pursue. From the initial investment necessary to securing financing, we will cover the essentials that all aspiring franchisors need to know before taking the plunge.

Questions about the Initial Investment

The cost of purchasing and opening a franchise varies greatly from one business to the next. As a general rule, however, the initial investment required to get a franchise off the ground will cost between US$50,000 and US$1 million or more.

The good news is that franchises can offer potential owners some very attractive returns and benefits. Many franchisees are able to cover their initial investments and start to see returns within their first two years of operation. Some even reach profitability within the first year.

Questions about Financing

For most people, the initial franchise investment will be too much to pay out of pocket. Thankfully, several financing options are available for those who need it.

Most franchisees will need to apply for a small business loan from a bank or other financial institution. In order to qualify, most banks will require the franchisee to have a solid credit report, a minimum of two years of experience in a similar industry, and a clear business plan of operation.

In addition to conventional business loans, many franchisors also offer financing plans to qualified buyers. Franchisees can also work with the Small Business Administration and other government programs to secure more affordable terms on a loan.

Questions About the IFPG

The International Franchise Professionals Group (IFPG) is the world’s largest franchise consulting network, with more than 1,300 franchisors, franchise consultants, and vendor members. Our members provide guidance to aspiring business owners as they research, identify, and invest in a franchise business. Together, we strive to operate with integrity, ethical practices, and collaboration.

We strongly believe in the power of raising the industry’s franchise standards through innovative programs and specialized training. Our values are not limited to business practices alone – the IFPG is also a close-knit family of franchise brokers that puts community before competition.

Topics:

Franchising,

Financing,

IFPG

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