ForumsStarting a Business

Hi SmallBiz63.

I happened to read your post. I am a business and franchise lender AND I used to be a franchise consultant (I consulted with individuals like you who were looking for a business or franchise.)

I see a lot of people who have the attitude that they can save the franchise fee and royalty fee and start their own business. You may not want to hear this, but there are huge odds against those who choose this route. I don't make any money promoting franchises any more, I am saying this from experience and observation.

There is a reason that franchises succeed most of the time and independent businesses fail most of the time. The franchise has a model, a program that has already been tried, tested, reworked, rewritten and hopefully has most of the kinks out of the process. Your ramp-up time (doors open to point of breaking even) tends to be A LOT shorter. This is where many indies fail, they never make it beyond breakeven.

I could go on about the other differences, but I think I have made my point. There are a lot of franchises out there, not all are good. It requires a lot of due diligence. I know the things to look for to spot a successful franchise because my franchise lender (non-SBA) has successfully ID'd the good ones for years. This lender does not secure the borrower's home like an SBA loan does. So my lender has t be sure the franchise will not fail. And they have not been wrong yet.

If you want to pick my brain, you are welcome to call me.

Paula Serber
SBA, franchise loans and unsecured business lines of credit
619-793-5559

HI,

I just joined this site and found your post. If you end up deciding to go the independent route, I think you would be really interested in what we do. We can help set you up with the most original and funky wall art, menu boards, signage (and logo design!) that would definitely go a long way in setting you apart from the 'pre-packaged' shops.

Be sure to view the portfolio page in our website www.charactercompany.com

(it seems you may be in CA and this is a REALLY long, longshot - But if you're in the Long Beach area, we did logo design and sign/menu board artwork for Miss Priss Cupcakes & Such. If you google her, you'll find pics on Flickr and elsewhere.) But our portfolio has hundreds of pics to see as well.

Best of luck to you!
karin

I think you hit it on the nail when you said "fad.' - - if you love yogurt I would say go for it! But, if not, I would think about it very carefully. Yogurt maybe big now, but 2 years from now - will it be big still? Maybe not. 10 years ago, we had Penguins and other yogurt shops all across CA and then they all died out.

Hello smallbiz63,

I am an Angel Investor residing at albany, NY. I came across your message on this site and will be interested to help you with the capital you need. Can you please give me more overview about your vision for the business you want to invest into. Send me details to my email box:mylibrary2006@hotmail.com
Until I hear from you remain bless.

Mr. Simeon Douglas

Beware of uawithyaltd, aka Mr. Simeon Douglas. Google the email address he entered. Sounds like he is a scammer. If you try working with him, do not, repeat do not, send him any kind of up front money no matter how much sense it makes to you. Usually there is a claim that insurance must be purchased to insure the loan and the borrower much pay for it.