So You Want to Open a New Franchise in Texas?

In Houston – Galveston, Choose a Franchise Wisely

• When you are choosing a franchise, it’s extremely important to research carefully and completely. You can choose from hundreds of franchises, so the first thing you need to do is make certain that you are choosing an industry that you can work in for the length of time you want to be in business. It may be ideal to choose an industry you’re already familiar with, so that you have a working knowledge of what’s in store for you.
• Franchisors are not always required to provide you with the full and complete story, so it’s up to you to discover it for yourself. Visit the franchise that you are interested in at the store. Ask in-depth questions and don’t settle for lightweight answers. Make appointments with other franchisees of the company you are interested in and find out what they have to say about their real-world experience.
• Do some market research. Find out the trends and statistics regarding the franchise you are considering. It’s extremely important to find out how the company fares over time. The economy will ebb and flow continuously, so choose a franchise that can stand the test of time.

Choose Your Location Carefully

• Remember that the number one rule in real estate is: location, location, location. It really does matter where your business is located. It helps to position yourself near competition- if you are starting a fast food franchise, opening your business near other eateries puts you in the traffic flow of potential customers.
• Another good point to consider with location is to find complementary businesses and move in nearby. If you are opening a coffee shop, look for a location near a bookstore. If you are opening a print shop, you may want to position yourself near a college campus or office complexes.
• Move into an area with plenty of traffic. If your new franchise will be a fast food establishment, locate near schools or businesses that will provide a steady traffic flow at meal times.

Finding the Proper Financing

Opening a new franchise opportunity can mean a healthy financial investment on your part. There are several ways to find the capital for your business start up. As you search for financing, you need to gather the most up-to-date, relevant options. One way to fund your franchise investment is with a BORSA plan. A BORSA plan allows you to use the funds in your 401(k) to finance the purchase of your new franchise without paying penalties, taxes or interest. With a BORSA (Business Owner’s Retirement Savings Account), your savings are rolled over into a plan that helps your finance a franchise purchase.

If you live in Texas, the experts in BORSA plans are DRDA, P.C., at 281-265-8459. Contact the expert business consultants at DRDA, P.C. today to find out how you can use your 401(k) to finance the purchase of a franchise in Texas. Call DRDA, P.C. now and let them help you create the reality of your new franchise business opportunity.