Financial Franchises - notorious or noble business opportunity?
Nick Tubb is a franchise expert and founder of WhiteCollarFranchise, a UK dedicated franchise resource featuring financial franchises, examines whether financial franchises are a notorious or noble business opportunity.

ROMSEY, ENGLAND, January 09, 2010 /24-7PressRelease/ -- Financial franchises have to be one of the most notorious franchises available in the market today, due to the bad press the financial services sector have received during the current economic climate. Quite simply though anyone with extensive experience in the financial services sector could be ideally placed to develop a financial services franchise as the economy begins to improve.

Ranging from your basic accounting franchises through to providing a complete financial services package there are a multitude of options to choose from.

Opportunities listed under finance franchises are also white collar license opportunities rather than franchise business models. License Opportunities provide training and support, but don't have the depth of commitments and long-term relationship ties that a franchise has. The start up costs in license opportunities are therefore significantly lower than in a franchise, usually.

Ideally you will want to narrow the field down to three franchise/ license opportunities that best meet your own interests and experience, with your investment level. Once you have decided on your final choices it's now time to request franchise information and beginning looking into the franchise in-depth. Other areas to look at when narrowing down your three choices include availability of franchisee case studies, available franchise news and transparency of franchise on the web.

Once you have reviewed the information, procedures, training options, monthly management/license fees and take out the ones that do not appeal to you - you are ready to book meetings with the franchisors.

Although not a boy-scout BE PREPARED!!

In order to get the best out of the meeting for both parties, write down a list of questions before hand that you would like answered.

There are many resources available with lists of potential franchise questions, but they should include:
- How long has the company been in business and then been franchising for?
- How many current franchisees do they currently have and can you contact them?
- How many franchisees have you had previously?
- Does the franchisor have/had any other companies and were these franchised?
- What marketing and promotions will be done corporately and how many are you expected to do?

These are just some of the questions that should be asked during the meeting, but make sure that you are given the chance to ask and have answered all of the questions that you require.

It is vital to understand that it takes a lot of hard work, perseverance and maybe a thick skin for a financial franchise to succeed, especially in the current market. But for those people with the correct skills and knowledge along with the investment level required financial franchises can provide a respectable and profitable career path.

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Laura Payne
Total Franchise
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