The past four decades have seen more and more franchise loans being applied for and taken out due to the popularity of franchise business opportunities, typically in fast food. This is an ever-growing market for small business loans and it stands to reason, for our society has become one where people have less and less time to cook and what little time they do have they'd rather spend doing other things - like recovering from the workweek!
It's a sad state of affairs in a way, but likely a major factor in why franchise loans are a big part of any bank's business nowadays. From a business perspective, many franchises are sure bets and have even become American cultural icons, such as McDonald's. There are less expensive franchises which also offer good bets, such as Subway, which boasts an astounding success rate of around ninety-three percent, where "success" is determined by the number of defaults on Small Business Administration-backed loans - that means only seven out of a hundred Subway restaurants fail!
If you are in the market for franchise loans, you might also consider using those funds for a Dairy Queen, which boasts a similar success story, at just eight percent of franchisees that go under. Both Subway and Diary Queen also require only somewhere in the neighborhood of thirty to thirty-five thousand dollars for admission, quite a bargain considering their track record! Of course, other costs will certainly be involved, such as those for rent and renovations, but that's the case with any franchise.
Fast food not your thing? You can still use your franchise loans for a Super 8 Motel, which boasts a success rate of ninety-six percent. Days Inn, a sister operation of conglomerate Wyndham Hotel Group, has a similar story at ninety-four percent. Still haven't found your niche? Maybe you'd like to consider the health and fitness industry, where one of the brightest stars is Curves, a women-only gym that has expanded exponentially. But gyms are fickle operations to run for many reasons, and sixteen percent of all Curves franchisees fail on average, not alarming but a significant rate all the same. Another interesting option is Matco Tools, though it's also one of the riskiest ones around, with slightly over a third of all franchisees failing! However, with no licensing or royalty fees and an interesting business model whereby franchisees operate out of branded trucks to sell the hardware, Matco Tools is one of the most popular franchises in the United States.
Author Resource:-
Written by Paul Wise, who has applied for a franchise loan and recommends BFAdvance.com for small business loans and other entrepreneurial business aids.
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