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Franchise Locators is on Social Media!
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Follow our company page for news, insights and information about the franchise industry and what's going on with Franchise Locators. |
Entrepreneur Magazine Online
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Featured Concept for February
Are you interested in a business to business franchise suited to management level executives who want to escape Corporate America and truly control their own future? Characteristics of this company include:
Business to Business concept (working with professional business customers)
- Monday - Friday operations
- Huge growth capability (Really no limits)
- Strong in a weak economy
- High franchisee satisfaction
- Minimum net worth: $300k
Give me a call to learn if this is the right business for you! 706.736.0579
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"The two most important days in your life are the day you are born and the day you find out why." - Mark Twain
"You have to be burning with an idea, or a problem, or a wrong that you want to right. If you're not passionate enough from the start, you'll never stick it out." - Steve Jobs
"There is no passion to be found playing small--in settling for a life that is less than the one you are capable of living." - Nelson Mandela
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Franchise Locators' blog is now featured on the Career Thought Leaders' website. Career Thought Leaders is a think tank of career industry leaders working collaboratively to support its colleagues and job seekers worldwide by providing expert leadership and innovation throughout all phases of career development, job search, long-term career management, and career fulfillment.
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Who wants to make the change from employee to entrepreneur in 2015?
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You already know someone who has thought about owning a business, or who has questions about franchising. Do a good turn and share my contact information with them: anna@franlocators.com or phone at 762-233-7227.
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Follow Your Passion to Entrepreneurship
Greetings! Now that it's February, Valentine's Day will soon be upon us. This is a great time to consider your passion when it comes to your work. Passion is a powerful force in helping you accomplish your personal, professional and financial goals and, ultimately, is the motivating factor behind your success and happiness. My passion is helping corporate refugees and retiring athletes find the right business for them, and I truly love what I do as an advisor and consultant. Entrepreneurs are passionate people, and let's explore what they're passionate about. When it comes to franchising, many people make the mistake of selecting a franchise that has to do with a hobby they love, like sports or cooking. Being passionate about the product or service is not vital to your success as a franchise business owner. What is important is your passion, your desire, your drive to be your own boss and live the lifestyle that entrepreneurship can afford -- freedom, flexibility, and time with loved ones. I've been reading The Entrepreneur Roller Coaster by Darren Hardy, the publisher of Success Magazine. According to Hardy, there are four different passions, any one of which can drive the success of business owners. Although there are people who have a passion for the product or service their business sells, Hardy has the reader consider three other equally important passions that can fuel the success of an entrepreneur: passion for why you do what you do, how you do those things, and for whom you do them. So, as you see, you certainly don't have to be passionate about what the business sells. You do need to be passionate about wanting to be your own boss. Hardy explains that passion is like electricity. It's always running, but you have to flip the switch to turn it on. Which passion switch are you ready to turn on? Yours in franchising,  Anna Wilds Certified Franchise Executive Candidate Sr. Franchise Consultant Honor Roll Franchise Consultant anna@franlocators.com www.franlocators.com
(706) 736-0579
Associate - Career Thought Leaders Consortium
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Financing Corner
401k Franchising Funding Myths Debunked!
By Bill Seagraves, CatchFire Funding
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In case you aren't exactly clear on how to use your retirement dollars to fund your franchise, I'd like to go over the basics as well as clear up a few myths you may have heard. As the founder and president of CatchFire Funding, I've helped more than 1,500 entrepreneurs fund their small businesses and franchises through 401k rollovers.
Traditionally, an early distribution from a retirement account could cost you up to 50% in taxes and penalties; however, with our self-directed 401k funding program, you're able to invest your retirement money  into a new franchise without losing your hard-earned savings.
Under which laws? With CatchFire's self-directed 401k program, you're able to roll over your retirement funds under the ERISA 1974 guidelines.
So, how does the process work? With a 401k rollover, you're investing your 401k funds into a franchise without having to take a taxable distribution. A 401k rollover could provide you with the necessary capital to fulfill your dreams of franchise ownership, penalty-free. What's more, the process can allow you to go into business for yourself without the burden of loan debt looming over your head. That peace of mind is priceless!
And now, on to those myths. Below are the Top 5...
Myth #1: I will face huge taxes and penalties.
A 401k rollover is very different from cashing out your retirement accounts to fund a franchise. With a 401k rollover, first a corporation is created, then the business sets up a 401k plan. Next, up to 100 percent of your existing 401k money is rolled into the new 401k plan and directed to invest in your franchise. All tax and penalty free!
Myth #2: The only purpose of a self-directed 401k is to fund my business.
It's not just about funding your business today, it's about saving for tomorrow. While business ownership is a way to build wealth, it's also a tax saving tool. Think of it as a long-term wealth-building plan.
Myth #3: Taking out an SBA loan is better than a 401k rollover.
Unlike SBA loans, rollovers do not operate on a debt model. They allow entrepreneurs to invest in a franchise without making payments, paying interest or having to adhere to a payback window. Added bonus: since self-directed 401ks put business owners in such a great cash flow position, they often have a much easier time securing an operating line of credit with banks.
Myth #4: It has nothing to do with employees.
As a business owner who is always looking for quality talent, one of the main reasons why you utilize a self-directed 401k is to attract great employees. When you have a 401k plan, the employee-related advantages are threefold: it benefits the employee's experience, it attracts good employees, and it helps you retain them.
Myth #5: I should never touch my 401k.
Rolling your own 401k savings into a plan that invests in your own privately held corporation is a strategy that has many benefits; for example, it's much cheaper than taking out a loan, and you don't have anybody breathing down your neck. One major plus: it allows you to take your time building your franchise business with no immediate payments to a bank, or returns to an investor.
As with all things having to do with entrepreneurship, risk lies in the eye of the beholder. As Americans invest their retirement funds in other peoples' businesses (as you do in the stock market), is it more or less risky than investing in their own franchise business where they have control?
If you'd like to learn more about the exciting advantages of our self-directed 401k program, don't hesitate to reach out to me. I'd be glad to answer your questions; it's what I'm here for!
Bill Seagraves
President & Founder
CatchFire Funding
bill@catchfirefunding.com
(877) 702-2040
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