“Discouraged by economic conditions, some franchisers are cutting back on efforts to sell franchises,” writes Richard Gibson in his Wall Street Journal article, “Franchise Sales Pull Back During the Recession.” But what about those small business owners that already own a franchise. How can they compete with the recession? According to Jeff Elgin, chief executive of FranChoice Inc., a firm that helps franchisers find prospective franchisees, who Gibson quotes, “"A lot of companies entered the franchising business the last three or four years, and many haven't been doing very well recruiting franchisees." He also says that this has to do with the fact that many would-be franchisees "who nine months ago would have gotten financing very easily are being held up." In the past, franchisees looked to banks for business funds, but as bank lending has tightened and eligibility requirements have intensified, the business cash advance is looking more and more appealing to franchisees. Many owners of various franchises such as McDonald’s, Subway and Cold Stone, just to name a few, have already taken advantage of business cash advances. A business owner does not have to own a franchise in the food-service industry to be eligible for a business cash ...
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July 11th, 2011 
maureen 
Posted in Business Finance Quote 
Tags: Business, Credit, Loans, Opens, Opportunities, Whole 
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