Can you afford to buy a franchise in 2023?
As 2022 wraps up, many of us are taking stock of our career and finances, and looking ahead to the new year. Since we’re eyeing a potential recession, you may be wondering if you can afford to buy a franchise in 2023. Warren Buffett has great investment advice for times of economic uncertainty like these. As he has famously said, “Be fearful when others are greedy and greedy when others are fearful.” In other words, when there’s stress on the economy causing widespread fear, the door to valuable opportunities opens for investors who are paying attention.
That’s great news if you’re considering buying into a business, because the best thing to bet on is yourself. An economic slowdown can be a prime opportunity to get a new business off the ground. Check the histories of General Electric, IBM, Microsoft, Facebook, Disney, Burger King, and Apple—they launched during recessions, depressions, or bear markets.
To put it simply, we’re actually in a time of great opportunity. And you may be surprised to learn about the affordable high-quality franchise opportunities available right now.
Keep in mind that our process at FranChoice puts candidates like you on strong footing from the very start. We thoroughly research hundreds of emerging franchise brands and cherry-pick the select few that meet our strict criteria. We prioritize financial considerations: are current franchise owners seeing strong results from their investment?
The FranChoice mantra, “low investment, high margin, rapid break even," puts our candidates on a path to financial success. And it’s likely more affordable than you think. Take a look at the numbers. Many of the premier brands we represent require a total investment of less than $150,000. Taking into account the opportunity for a business loan from our finance partners, you could be up and running for a cash investment as low as $30,000! If you’re looking to get into a light retail franchise with a brick and mortar location, your total investment could be as low as $400,000. With financing, your total cash on hand would only need to be about $80,000.
And we can even help pave the way for you to find financing. The comprehensive services we offer our candidates (all at no charge!) include introductions to our finance partners, who are experts in the field. They offer specific programs geared toward prospective franchisees and can help you explore your options. Check out more information about financing here and use our calculator to estimate the amount you may qualify for.
If you’re ready to heed Warren Buffett’s timely advice, take charge of your career, and become your own boss, franchising may be your answer. Check out this article if you’d like to read more. There are plenty of affordable and profitable options that won’t “break the bank.” And I’m ready to help you find them. Schedule a call with me to get started. Let’s make the most of today’s valuable opportunities.