CFO services | Giving It A Go With Franchising
CFO services be careful when you have franchise owners involved in potentially you buying a franchise in order to secure financial and time freedom for you and your family in the future.
The reason that you should use caution is because the franchise owners are going to supply you with different locations of those franchise that franchise so that you can get a better picture of what the everyday process looks like. However, the three franchises locations that they will be supplying you with our far and away the most successful franchises within your immediate location. They are obviously going to want to paint a very pretty picture that you absolutely cannot fail if you buy one of their franchises.
Consider the fact that the people you are talking to in regards to buy a franchise our representatives are that of that company and they want to sell their product, their product being the franchise.
If you do not by their franchise, they do not make any commission. It is as simple as that. As well, they don’t have your best financial interests at heart, they have there is. Be very careful and leery of what they tell you, true or false.
A good idea would be for you to retain a impartial charter professional accountant so that they might be there and present in all of the interview process with this franchise. That’s not to say, says CFO services that franchising is not a good idea to get involved with. Sometimes it can be a very valuable idea and great for yourself, your family, etc.
However, what CFO services is saying is for you to do your due diligence and your homework before you put down your potential life savings on something that you haven’t considered researching yet.
On your own make sure that you are calling three particular franchises from that parent company. Even better, make sure that you visit them in person and see their reactions, their expressions, when you potentially ask them with the “hard questions”. As well, your charter professional accountant will know what kind of questions to ask as well.
Speaking of which, make sure you are retaining a charter professional accountant that has experience with working with many types of small businesses. That way they will in fact know exactly what to say and what to ask when you are in those meetings. As an impartial charter professional accountant, they will be able to only have your interests at heart and will be able to give you proper advice on what to do if you are interested in a particular franchise.
Likewise, your charter professional accountant will be able to retain the numbers that the franchise owners are not able to give you. They will be able to look through their many mediums, and availabilities, and the be able to give you a much clearer picture on the financials of that particular coat location, or that particular parent company.
When You Are Looking Forward To The CFO services?
CFO services says that there are one or two opportunities and possibilities for you in terms of retaining money from the federal government to help you to buy a franchise. At least, that is how it is done in Canada.
The loan that you can apply for and potentially retain is called the Canada small business financing loan. This is an attractive loan that can be maxed out at $350,000. You, as a perspective franchise owner, can apply for this, and potentially retain the whole 39 $50,000 for the lease, to hold improvements for your franchise, by the equipment, etc. At that point once you have retained that loan, you will be able to retain the notice to read the financials.
However, do not be necessarily sad if you do not get the whole three and $350,000. That is the absolute ceiling for that particular loan. It may serve you well in your application process when you have had a history of owning successful franchises in the past. When you get a loan from the government, they want to see that you have succeeded with the money with which they have lent you. That might be a very good example of how you can get the full maximum loan.
Yes, CFO services says absolutely you can contact franchise owners all by yourself and without any special permission from the parent company, your charter professional accountant, or anybody else. You can do your due diligence and you can go about this by yourself. As a matter of fact, says CFO services you should be doing this by yourself.
Do not just consider and look at the ones in the franchise documents. Sometimes they will supply you with contact info for existing franchises. On the other hand, go straight to Google places. Call them up, and talk to the ones that they haven’t supplied the contact info for. Those are going to be the least prompted responses and the generally going to give you very honest answers as to their experiences with working with franchises generally, and with that particular franchise as a whole.
Other franchises are good to in that they don’t have any motivation of all the bad stuff that’s going on in the business. Especially on a phone call. An in person meeting would be even better as you are able to see that business owners expressions and looks as you asked them or your charter professional accountant will ask him potentially the hard questions and the important questions for you to get a better picture of what you may or may not be getting yourself into.
Consider the fact that the number one thing that charter professional accountants see is perspective franchise owners that are only looking to buy one and one specific business only. Make sure that you are also doing your due diligence in spreading her wings a little bit and understanding that there are other thousands of businesses out there.