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Using Your IRA To Fund A Franchise

Individual retirement accounts are a potential source of cash to fund a new franchise opportunity. Investments in IRA accounts are not legally limited to bank CD’s, stocks, or bonds. You may have seen advertisements on television about placing gold in your IRA.  This is only one of many investments options available.

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Is a Franchise a Career Option for your Children?

Some parents buy a franchise to pass on to their children to manage as an alternative to a poor job market. At a time when recent graduates are landing only part-time employment or waiting tables despite a college degree, is a franchise a wise choice for them and for you? Possibly; it depends on the circumstances. 

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Franchises Get Better Locations

Real estate often reminds us that the priority is usually location, location and location. The same is true in business.  Selecting the right site is very important, especially when you need walk-in traffic and street visibility. 

A Sport Clips or Super Cuts franchise, which I represent, requires locations with good foot traffic.  Others like kitchen remodeling or door replacement are not dependent on location; they advertise directly to customers to generate traffic. Most franchisors will help with site selection when location is important. They understand what location will bring in customers in a cost effective way. 

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Discovery Day Agenda for Potential Franchisees

When you have reviewed potential franchises and talked with key people and you are still very interested, the next step is to schedule a Discovery Day.  On Discovery Day you travel to the franchiser’s location, generally the home office, to meet the people you would work with and to see the operation up close and personal. 

There is usually a specific agenda provided by the franchisor. The goal for Discovery Day is to meet the people face to face that you might sign a contract with. 

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