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Investing Locally for Quality Family Time

The ever-increasing pace of daily life can make it difficult to prioritize quality family time. With the right investments and guidance, it is still possible to build financial security, set aside time to enjoy with our loved ones and build a bright future for generations to come. Planning a strong local investment portfolio requires research and knowledge, but the International Franchise Professionals Group (IFPG) is here to help. As an industry leader in franchise consulting, IFPG works with available resources to provide guidance and advice on how to select and manage local investment opportunities.

This article seeks to answer some of the most frequently asked questions about investing locally near you. From getting started to understanding the difference between a franchise and other types of investments, we provide the needed information to help you enter the world of local investments with confidence. Read on to get the answers you need to help you prioritize quality family time while planning a secure investment portfolio.

What Types of Investments are Near Me?

The types of investments available vary greatly depending on your location. Generally, investments near you may include stocks, mutual funds, ETFs, bonds, certificates of deposits (CDs), real estate, business law, venture capital, and franchises.

A franchise is a business model that grants individuals a license to use a company’s brand, products, and/or services in exchange for an agreement to adhere to certain business practices. Franchisors also provide support such as marketing material, training, and operational guidance to help new franchisees get their business off the ground.

While rare, some individual regional franchises may be exclusively available in certain areas, which makes them a locally owned or managed venture with a known brand.

What Are the Benefits of Investing Locally?

Local investments have many benefits, including helping to fuel local economies, strengthen social ties, and build a secure future. Investing locally benefits the local area by increasing the number of businesses. This, in turn, leads to increased employment opportunities, expanding local services, and helping to improve the overall tax base of the area.

Investing locally can also provide financial and social benefits to the investor and their family. Making purchases from local businesses keeps money in the local area and promotes financial growth. Additionally, being a part of the local investment community also creates a sense of connectedness and strengthens social ties.

What Are the Risks of Investing Locally?

Local investments are not immune to risks just because they are locally based. Investors should study the available investment opportunities and do their due diligence to gain a thorough understanding of the terms and conditions of each investment.

Investors should always research the business model of the investment opportunity, as well as the market conditions, historical performance, financial reporting, and management of the business. Additionally, it is essential to discuss the imminent risks and rewards with a financial advisor or professional franchise consultant to ensure that each investment is suitable to the investor’s unique financial and personal goals.

What Are the Steps to Investing in My Community?

The first step to begin investing in the community is to identify your financial and personal goals. This serves as a roadmap and helps guide the search for local investments. Knowing in advance which type of investment best suits your needs and goals is important to limit the amount of research required to identify the right opportunity.

Next, start researching available investment opportunities. Consider local franchises and other business investments in your area. Talk to friends or business owners who may have insights on the investment climate. Attend local business forums or talk to a financial advisor to gain knowledge and evaluate the available opportunities.

Finally, once a suitable investment is found that aligns with your goals, it is important to be aware of the necessary next steps to complete the investment process. This may include creating a budget and timeline, meeting with advisors to develop an investment strategy, and having an understanding of legal requirements in order to become a licensed franchisee or business owner.

Topics:

Investment Opportunities,

Local Investing,

Franchising

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