(Franchise sales) Planning for a green Franchise Launch

24. October 2012 · Write a comment · Categories: Franchise Directory, Uncategorized

By Daniel Cargille

 There are a number of benefits to starting an environmentally friendly business – especially if you’re starting a franchise. Not only will you save money on getting your business launched but you’ll earn the respect of the local community as you strive to improve your carbon footprint. It’s great for positive branding as you prove that you’re a globally and economically responsible company.

Here are steps to help you develop an environmental strategy as you get ready to choose and open a new franchise.

Target Environmental Regulations with your Franchise

Every business in the US is governed by a minimum set of environmental standards and regulations that have to do with trash and cleanliness, drainage, etc. Keeping up with these helps to avoid legal issues but if you want to build your brand and tout yourself as a green business then you need to go beyond the minimum standard.

Create an Environmental Management Plan for your Franchise

When you want to open a business you will more than likely sit down to create a business plan if you haven’t done so already. This typically includes financial and marketing information but it can also include an environmental management plan. This takes into account practical ways to reduce carbon footprint and utilize energy-saving equipment for reduced local impact as well as savings to utilities and reductions in budget. This can be as simple as planning to source food products from local providers.

Build a Green Franchise from the Start

If your franchise requires that you build a new structure to gain the most benefit and local impact with your target audience (or its just a sound decision financially) then you should aim to use green building products wherever possible in the business. This includes better HVAC systems, high-quality insulated windows with Low-e ratings, efficient lighting, solar panels and more.

Buy Green Products

Every business needs supplies, and depending on the franchise and brand you choose to invest in, you may need more than others. Food services franchises for example use far more cleaning supplies than a clothing chain. Make sure you source and buy products that are bio based and non-toxic. Where possible, such as with paper towels, try to purchase products made from post-consumer recycled materials.

Conserve Water

Every business uses water to some degree – but more so for a food-service based franchise. The increased demand on the water supply of our nation is threat to human health as well as the environment. If you implement a water-conservation program you’re working to conserve a precious resource that is in fact limited. Likewise, you cut a general utility cost by a portion through conservancy. You can boost conservation of water by having your local water agency conduct an audit of your systems. Likewise, invest in better technology and water-saving equipment. Lastly, try to minimize discharges of sewer and wastewater.

Make a Green Marketing Strategy for your Franchise

When you launch as a green business or franchise, there is a great deal of potential for building brand visibility – but people won’t know that you’re running a green business unless you tell them. Add those “green” claims to all of your marketing materials and make sure that your customers, vendors and business partners know that you’re working with conservation in mind. People love to do business with environmentally friendly companies.

You should take the time to build relationships with the people and organizations that can help you spread the word about your overall message and goal. Of course you want to turn profits with your business but you should work to share your attempts to help the environment. Not only are industry partnerships a good idea – such as with other business owners – but groups and organizations can help you share your missions as well.

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(List of franchises) Important Lessons On Financing A Franchise In Canada – Franchise Business Loan Success

24. October 2012 · Write a comment · Categories: Franchise Consultants, Franchise Directory, Franchise Magazine, Online Franchise, Top Franchises, Uncategorized

By sprokop

 It might be a proven business model, but funding that model can be a challenge without the right information and assistance. We’re talking about financing a franchise. A franchising business loan done properly is of course what is going to make those franchise opportunities you’ve chose work.

So is there a cost to buying into what most people recognize as a ‘ proven system ‘. The essential cost of course is your own personal investment into the business, as the type of financing that you obtain to acquire, and grow your business.

While many clients come to us with the mindset that financing a franchise is a ‘ start up ‘ type of business that comes with all sorts of risk and challenges the reality is that in many ways financial institutions and other lenders view this business model a safe way to enter into entrepreneurialism. And that translates, when you know what you are doing, into financing opportunities to create success for your vision.

A typical question we get is whether the type of business or brand or reputation of franchise opportunities in Canada matters relative to the finance challenge around acquiring that business. In general we can say it does not. Of course if you have been lucking enough to acquire the rights or an existing unit with an international brand that is already established that’s one step ahead, but the reality is that each new franchise financing opportunity is typically handled on its own merits.

In Canada you can typically be expected to put in a minimum of 10% permanent equity into your business when utilizing one of the most popular finance programs available to franchisees. However to make that transaction work, and get approved realistically you should be prepared to demonstrate the ability, not necessarily the cash, to fund up to 30 -40% of the acquisition.

Don’t forget also that an existing franchise, wherein you are purchasing for a franchisee who is selling is generally financed under the same mechanisms as a new unit. In Canada it always feels like the majority of franchises are Quick Service type restaurants but given that the franchise industry in Canada represents almost 50% of the economy you can be assure there are lots of other industry business models out there offered by Canadian, U.S. and international franchisors.

If there is one ‘ trick ‘ ( can we actually call it a trick?!) to financing a franchise in Canada it probably boils down to being prepared in advance for financing while at the same time working with a franchise financing institution or advisor who has special expertise in this type of finance.

In Canada many of the well known brands in franchising do in fact have relationships and packages available to you with 2 institutions, our chartered banks and one international franchise finance firm. However, we want to make it clear there is certainly no guarantee on financing your new business just because a relationship may have been forged in the past.

A franchising business loan in Canada is most easily accomplished via the federal BIL/CSBF program. This can be complimented by equipment and asset financing as well as working capital solutions that are either entwined or independent of the main financing.

Speak to a trusted, credible and experienced Canadian business financing advisor on franchise opportunities that can be properly financing in Canada.

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(Buying a franchise) Important Lessons On Financing A Franchise In Canada – Franchise Business Loan Success

24. October 2012 · Write a comment · Categories: Franchise Consultants, Franchise Directory, Online Franchise, Top Franchises, Uncategorized

By sprokop

 It might be a proven business model, but funding that model can be a challenge without the right information and assistance. We’re talking about financing a franchise. A franchising business loan done properly is of course what is going to make those franchise opportunities you’ve chose work.

So is there a cost to buying into what most people recognize as a ‘ proven system ‘. The essential cost of course is your own personal investment into the business, as the type of financing that you obtain to acquire, and grow your business.

While many clients come to us with the mindset that financing a franchise is a ‘ start up ‘ type of business that comes with all sorts of risk and challenges the reality is that in many ways financial institutions and other lenders view this business model a safe way to enter into entrepreneurialism. And that translates, when you know what you are doing, into financing opportunities to create success for your vision.

A typical question we get is whether the type of business or brand or reputation of franchise opportunities in Canada matters relative to the finance challenge around acquiring that business. In general we can say it does not. Of course if you have been lucking enough to acquire the rights or an existing unit with an international brand that is already established that’s one step ahead, but the reality is that each new franchise financing opportunity is typically handled on its own merits.

In Canada you can typically be expected to put in a minimum of 10% permanent equity into your business when utilizing one of the most popular finance programs available to franchisees. However to make that transaction work, and get approved realistically you should be prepared to demonstrate the ability, not necessarily the cash, to fund up to 30 -40% of the acquisition.

Don’t forget also that an existing franchise, wherein you are purchasing for a franchisee who is selling is generally financed under the same mechanisms as a new unit. In Canada it always feels like the majority of franchises are Quick Service type restaurants but given that the franchise industry in Canada represents almost 50% of the economy you can be assure there are lots of other industry business models out there offered by Canadian, U.S. and international franchisors.

If there is one ‘ trick ‘ ( can we actually call it a trick?!) to financing a franchise in Canada it probably boils down to being prepared in advance for financing while at the same time working with a franchise financing institution or advisor who has special expertise in this type of finance.

In Canada many of the well known brands in franchising do in fact have relationships and packages available to you with 2 institutions, our chartered banks and one international franchise finance firm. However, we want to make it clear there is certainly no guarantee on financing your new business just because a relationship may have been forged in the past.

A franchising business loan in Canada is most easily accomplished via the federal BIL/CSBF program. This can be complimented by equipment and asset financing as well as working capital solutions that are either entwined or independent of the main financing.

Speak to a trusted, credible and experienced Canadian business financing advisor on franchise opportunities that can be properly financing in Canada.

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(Best franchise) Important Lessons On Financing A Franchise In Canada – Franchise Business Loan Success

24. October 2012 · Write a comment · Categories: Franchise Consultants, Top Franchises

By sprokop

 It might be a proven business model, but funding that model can be a challenge without the right information and assistance. We’re talking about financing a franchise. A franchising business loan done properly is of course what is going to make those franchise opportunities you’ve chose work.

So is there a cost to buying into what most people recognize as a ‘ proven system ‘. The essential cost of course is your own personal investment into the business, as the type of financing that you obtain to acquire, and grow your business.

While many clients come to us with the mindset that financing a franchise is a ‘ start up ‘ type of business that comes with all sorts of risk and challenges the reality is that in many ways financial institutions and other lenders view this business model a safe way to enter into entrepreneurialism. And that translates, when you know what you are doing, into financing opportunities to create success for your vision.

A typical question we get is whether the type of business or brand or reputation of franchise opportunities in Canada matters relative to the finance challenge around acquiring that business. In general we can say it does not. Of course if you have been lucking enough to acquire the rights or an existing unit with an international brand that is already established that’s one step ahead, but the reality is that each new franchise financing opportunity is typically handled on its own merits.

In Canada you can typically be expected to put in a minimum of 10% permanent equity into your business when utilizing one of the most popular finance programs available to franchisees. However to make that transaction work, and get approved realistically you should be prepared to demonstrate the ability, not necessarily the cash, to fund up to 30 -40% of the acquisition.

Don’t forget also that an existing franchise, wherein you are purchasing for a franchisee who is selling is generally financed under the same mechanisms as a new unit. In Canada it always feels like the majority of franchises are Quick Service type restaurants but given that the franchise industry in Canada represents almost 50% of the economy you can be assure there are lots of other industry business models out there offered by Canadian, U.S. and international franchisors.

If there is one ‘ trick ‘ ( can we actually call it a trick?!) to financing a franchise in Canada it probably boils down to being prepared in advance for financing while at the same time working with a franchise financing institution or advisor who has special expertise in this type of finance.

In Canada many of the well known brands in franchising do in fact have relationships and packages available to you with 2 institutions, our chartered banks and one international franchise finance firm. However, we want to make it clear there is certainly no guarantee on financing your new business just because a relationship may have been forged in the past.

A franchising business loan in Canada is most easily accomplished via the federal BIL/CSBF program. This can be complimented by equipment and asset financing as well as working capital solutions that are either entwined or independent of the main financing.

Speak to a trusted, credible and experienced Canadian business financing advisor on franchise opportunities that can be properly financing in Canada.

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(Franchise magazine) Set Financial Goals to Build your Franchise

24. October 2012 · Write a comment · Categories: Franchise Consultants, Franchise Directory, Online Franchise, Top Franchises

By Daniel Cargille

 Whether you’re opening your own business or you’re buying into a franchise, it’s important to know what your overall goals are. By building out goals you can understand some of the most important aspects of a business such as what your exit strategy ultimately is. Why are you seeking to buy into a franchise? Do you want money? Fame? Freedom? Guaranteed Retirement? If someone were to ask you why you wanted to start a franchise, what would you say?

Developing Goals

Overall your goals are a necessary beast to help you decide where you need to be at any given time, what to expect from your business and ultimately where your business should be in the future. For the sake of simplicity, most goals can be grouped into 3 categories.

Economic goals – Economic goals align with those who are trying to improve their financial position either now or in the future. A better weekly check now along with a secure retirement are two economic goals. For a franchise owner this can be a great motivator for getting a business off the ground.

Personal Goals – Personal goals can carry a person a long way and sometimes all it takes for success is for you to push yourself. A personal challenge or goal can get you running along a trail of milestones to reach a long-term goal. A personal goal may not be quantifiable like an economic goal but they’re just as important when it comes to getting a franchise off the ground. The opportunity to finally do it for themselves drives many entrepreneurs to set simple personal goals to keep them on track.

Retirement Goals – While this can be classified under economic goals, retirement goals can stand on their own two feet. With the way the current economy stands it’s hard to set yourself up for retirement through investment accounts alone. We all want to be able to have a great retirement wrought with fun and relaxation. These goals ensure that you have a strong exit strategy in mind to call it quits someday.

While any of the categories can help you generate long-term goals to help your business run better it’s the hyper-focused short-term goals that will really drive you through the day to day stuff that can trip up other business owners. Setting realistic short-term goals will let you measure your success accurately.

Short term goals can be extremely simple – such as getting the necessary permits to open, setting up reliable vendor accounts, establishing a line of credit for your business, hitting a profit milestone once you first open, etc. The main benefit to achieving short-term goals is the psychological benefit. Every victory, whether from hitting a short or long-term goal, will ultimately fuel your desire to do better and continue your winning streak.

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