• SLOW ECONOMY CAN BE A GREAT TIME TO BUY A FRANCHISE by Terrie Hall Abrams
• NOW'S A GREAT TIME TO START A BUSINESS By Rhonda Abrams
• 2009 IS A GREAT YEAR TO START A BUSINESS By David Gass
• BEST TIME TO START YOUR BUSINESS? RIGHT NOW! By Laura Lee Collins
• TIME TO START YOUR BUSINESS MAY BE NOW By Steve Stauss
• NOW'S A GREAT TIME TO START A BUSINESS By K Kobelski
• EONOMIC SLOWDOWN IS BEST TIME TO LAUNCH A BUSINESS By Clark Howard
• TIME TO LAUNCH A BUSINESS? By Mark Kolakowski
SLOW ECONOMY CAN BE A GREAT TIME TO BUY A FRANCHISE
by Terrie Hall Abrams
If you believe the national headlines, you would think that all is doom and gloom in the business world. Wall Street Plunges on Recession Fears. Chrysler to Cut 25% of Salaried Workers. Job losses: Worst in five years.
In fact, the current economic situation has many people shaking in their shoes and wondering if they should wait to start a new business. While it may take a bit longer to secure financing in today, a bad economy can offer some real deals to someone looking at business ownership. The key is to know how to take advantage of the situation and turn the lemons into lemonade.
Here are 5 reasons to buy a franchise TODAY: 1. Interest rates are low. A weak dollar usually means lower interest rates. Although money can be tighter than your belt on Thankgiving for shaky borrowers, those people with good credit are getting some excellent interest rates as the government reduces the prime in an effort to beef up the economy. If you are ready to become a business owner, do not wait for rates to rise. A low interest rate will mean more money in your pocket.
2. Banks consider a franchise purchase a safer investment. While start-up businesses are deemed risky, some financial institutions are well aware that franchising has a good record of success. Therefore, even in a weak economy banks are willing to provide loans for franchise purchases. Some of the reasons that buying a franchise is considered a safer investment than a start-up include:
3. Property values are down. Need space for your franchise business? Prices for leasing or purchasing a business location can
fluctuate along with the economy. Right now it is a buyers market but as the demand for space increases so will the cost. If you
find a good price in a good location, act quickly. Just remember to have someone well versed in property check out the
terms of your purchase or rental agreement to be sure you are getting the best deal possible.