Franchise Information, advice and news.

Using existing financial knowledge and combining this with business know-how could mean that a loan broker business opportunity offers a lucrative franchising career path.

Essentially, a loan broker is an intermediary between a borrower and a lender. In so far as franchising opportunities go in this sector, a grasp of the financial world would be advantageous but not essential as a good franchiser will always provide full training and support.

A firm such as Cash Now, who offer offers a payday loan franchise network across the US, Canada and Australia, offer offers the franchisee all they could need for a pain-free start up process. Manuals, contacts, forms and training are all offered and it is in the best interests of both parties in terms of general franchising that an effective, communicative relationship is built up between franchisee and franchiser.

A loan broker could be expected to work either in an office or from home so the most suitable option should be chosen initially to ensure a seamless transition into this sector. As the office will be the franchisees franchisee's base of operations, it must reflect the needs of the job and so the work space must be professional and fit for purpose.

It must be remembered that a franchise has the benefit of experience in its field and this should not be neglected. A tried and tested business formula will need to be adhered to in order to reap the financial rewards from a franchise and every effort should be made to utilise the experience on offer.

A reputable franchise to do business with is an absolute must and so researching the various companies offering loan brokering services is advised. Once a company has been chosen, a meeting with a representative would be the next step so that any queries can be dealt with at first hand. After all, there will be financial requirements and nobody wants to throw money away on a bad investment.

Every effort must also be made to take on board all the advice that is given. It cannot fail to help if a franchisee is well aware of the brokering sector and constantly hones the knowledge that they have. Many franchisers will claim to have proven methods for success but it will always be beneficial to build up knowledge of the loan brokering business area from other sources and an easy way to do this would be to contact other franchisees and talk over any questions or problems with them.

Experience is not necessary to run a successful loan broker franchise as long as the franchisee is wiling to put in hard work, is constantly attempting to maximise the productivity of the business and can communicate well with others.

Also, it is not necessarily a large outlay that is needed to get into the loan broker business. InterBay Funding, for instance, requires a sum of $450 in exchange for in-depth training, qualified leads and ongoing support. Due to this position being commission only, the onus is therefore on the individual to strive towards building up a customer base and creating an established reputation.

Copyright Adfero Ltd 2006

http://www.franchisedirect.com

Demand for credit seems to be an ever-growing market, highlighted by the West's obsession with paying for everything on plastic cards. Card spending in the UK, for example, continues to soar and a cumulative total of £470 billion was spent by Britons on cards in 2005 according to research undertaken by independent market analyst Datamonitor this month.

Before embarking upon a financial business venture it would be advisable for the prospective franchisee to take a critical overview of their personal strengths and weaknesses in order to determine whether or not this type of franchise opportunity would be best suited to skills that a franchisee has.

Initially, it would be highly beneficial to speak to existing franchisees to gain a greater insight into the workings of a franchise per se, and of course, speaking to the franchiser themselves would also be a recommended starting point. Professional advice from an accountant regarding projected income and the logistics of such a business venture would also prove to be invaluable.

Presuming that a financial business franchise is the chosen route, the door will open to a potentially lucrative market that helps form the backbone to a country's economy.

Financial franchises are diverse and can incorporate anything from internet stock broking to payday loan deals. Though a financial background is not a necessity for this line of work, it is definitely a good basis for development and something to think about.

It must be remembered thought that a reputable franchiser will offer extensive and ongoing training and support, making the plunge into the financial business world go as smooth as possible.

As far as franchising costs are concerned, Mark Scott, national franchise manager at NatWest remarks: "As a guide, the average franchise fee is £20,000, although this is skewed in view of a small percentage of higher figures."

An example of a reputable financial business franchise is SecurePay, a company that caters for individuals who do not have bank accounts or use credit or debit cards. According to SecurePay, 33 million Americans do not have a bank account. Taking advantage of this huge market, the company allows customers to pay their bills using Secure Payment stores. The franchisee makes their money on every transaction that is processed using their SecurePay payment system.

By working in harmony with the franchiser, the franchisee can realise their personal business goals within a time-honoured framework. A great advantage of a franchise in general over a conventional start-up would be that the franchisee is afforded the franchiser's brand, reputation and resources and so can therefore minimise risk by utilising a business model that has spawned previous success.

Copyright Adfero Ltd 2006

http://www.franchisedirect.com

Opportunities in the retail business sector are perhaps the most wide-ranging of all and so there will be a wealth of different ventures available to a prospective franchisee. The initial question that needs to be answered is therefore which area of retail will suit the franchisee the most?

Though the prospects in retail are vast, the risks can be too. A vital aspect in the decision to go into a retail business must therefore hinge on the fact that a franchise offers the security of a tried and tested business formula that is ready to be deployed.

A franchise can present a much quicker route to starting up a retail business and it offers the benefit of having a foot in the door, so to speak, already. With a reputable franchiser providing a high-quality brand, established marketing tools and ongoing support and advice, the framework is there to be utilised so that a successful business can flourish.

A good example of a retail franchise opportunity is Thomas Green's, a company that seeks to give the British expatriate community access to branded products and services they otherwise would have difficulty obtaining in their new community. The company allows the franchisee to "develop a British food based outlet in a country of your choice", according Thomas Green's website.

Retail experience would obviously be an advantage for franchisees but like many franchise opportunities, is not a necessity. Due to franchisers providing extensive training in the majority of cases, the opportunity exists to continually expand knowledge of the business in a working environment with access to advice and support from a franchiser who knows their market sector.

Massive benefits can arise from embarking on a retail business franchise such as; established supply chains, economies of scale and advertising campaigns of the franchise itself will all be available from the beginning of the venture.

Allied to this, retail franchises cover almost every kind of store imaginable and one key to success is location. It is imperative that customers can reach the store and that it easily accessible. This has to be at the forefront of decision-making as a bad location could spell the death knoll to a franchise.

It is important that communication is ongoing with both the franchiser, so that problems are flagged up and dealt with immediately, and that staff know exactly what their role in the company is and are aware of the codes of the business and can do their job to their best ability.

One possible stumbling block is the sheer number of retail stores currently in existence. The market will be tough but the rewards can also be very handsome and doing a little homework on the market would benefit both franchisee and franchiser as strengths and weaknesses of other companies could be assessed and then compared to the business opportunity in question.

Copyright Adfero Ltd 2006

http://www.franchisedirect.com