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The Trump Administration’s proposed tax plan is promising the lowest tax rate for small businesses since the 1930s. Now’s a great time to consider opening a small business or buying an existing business – including franchise opportunities.

If you’re wondering, “Is franchise ownership right for me?,” ask yourself these questions:

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    1. What am I passionate about?
      Like any endeavor, being truly invested or “all in” in your business will permeate every day of your operation – from how you treat your employees to the products/services you offer to the impact your business makes in your community. Your passion is a great place to start when considering a new business opportunity.

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    1. What role do I want to play in the business?
      There are two types of franchisees: Absentee owners, who hire staff to manage the business on a day-to-day basis, and owner/operators, who are directly involved in running the business. Both types can be incredibly successful and are scalable based on exactly how involved you want to be in the franchise.

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    1. What is my investment budget?
      Some new owners are coming out of corporate America and will obtain business loans or use a ROBS/401(k) Rollover funding plan from their existing retirement dollars to help fund their business startup. Others will team up with business partners or investors with additional “skin” in the game in the form of financial backing.

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Once you’ve narrowed down the field and business model you’re interested in, it’s time to choose a specific franchise. Franchisors with a long-standing history and good reputation in their respective industry are usually easy to find and research on your own. However, utilizing the expertise of a franchise consultant is a popular and recommended avenue for doing that research legwork and helping provide guidance in all aspects of franchise vetting and selection.

At Tenet Financial Group, we specialize in franchise funding AND we also have long-standing relationships with the best franchise consultants in the industry. If you need a franchise consultant referral, give us a call – even if you aren’t ready to pursue your funding options yet. We can help connect you with a consultant and be a resource for you when you are ready to take the next step in your franchise ownership journey.