2014-03-11 16:49:32 - "Is Business Ownership Right for You?", April 10 in Cherry Hill, N.J., to Bring Together Successful Franchisors, Attorneys and Financial Pros, and Will Highlight a Myriad of Franchise Opportunities, From Child Care To Computer Care
One of the perpetual myths of franchising is that most franchises are in the food and retail arenas. In fact, there are hundreds of successful businesses that offer vital goods and services, yet which most people don’t think of as franchises.
There are more than 3,100 franchise concepts in over 90 different categories, according to Bob Wolk, a franchise specialist serving Philadelphia and New Jersey.
Wolk is sponsoring a free business expo called “Is Business Ownership Right for You?”April 10, 2014, at the Holiday Inn in Cherry Hill. The event will bring together some of the most successful franchisors in the country, along with a financing specialist and franchise attorneys.
Wolk notes that many business categories offer great opportunities and low
barriers to entry, including health and wellness, IT services, senior care, child care, hair care, auto care, education/tutoring, cleaning services, staffing, martial arts, and social media marketing. For entrepreneurs, career changers, the semi-retired or those in transition, there’s likely a concept to match your specific interests and financial situation.
“These are franchises that fly under the radar, and don’t require as much start-up capital as the familiar brands,” says Wolk. “Some require as little as $35-45,000 in franchise fees and only $100,000 in liquid assets. And, for larger investments there are financing options that are very attractive. One staffing company franchisor, to celebrate its 30th anniversary, is giving a $30,000 check to each new franchisee in 2014, toward working capital.”
According to a study conducted by FranData, a full third of all franchise opportunities actually cost less than $100,000—and of that amount, only 25-30 percent needs to be in the form of liquid capital. ( www.frannet.com/index.php/franchising-basics/franchise-facts/
). Options include a Small Business Administration loan, rolling over your 401(k) or IRA penalty-free, and VET financing.
“Business Expo: Is Business Ownership Right for You?” will be held twice on April 10, 9 a.m.-noon and 6-9 p.m. The Holiday Inn Cherry Hill is located at 2175 W. Rt. 70. Advance registration is required as seating is limited. Register at www.meetfranchisors.eventbrite.com