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Finding a Good Franchisor in a Recession is Key to your Franchise Purchase

Finding a helpful and supportive franchisor requires much due diligence and is very important but it is even more important recently with today's economy. 

According to a recent article by CNBC the franchises that seem to be having the most growth this year and seem to be doing their best in sales are the franchises who are run by franchisors who are willing to help potential franchisees find new sources of capital.   

In a recession or an economic slump franchises and self-owned businesses usually sky rocket due to layoffs but recently the number of people venturing out to purchase a franchise have dwindled.  On the other hand while certain franchises have dwindled in their franchise sales there are many such as Subway and quite a few other sandwhich chains have ranked among the most sucessfull and fastest growing restaurant franchises this year.  Many believe this is due to the support of the franchisor helping the potential franchisee find ways to fund their purchase.  In most cases those who have been laid off from their job and would like to purchase a franchise lack one major thing needed in buying a franchise - that is the funds to purchase it.  By helping the potential franchisee eliminate the concern of where the money to purchase the franchise is coming from will often sway the potential franchisee to purchase the franchise they were looking into making it not just a thought of purchasing a franchise but causing it to become reality. 

If you are interested in purchasing a franchise and would like to know more about the process of purchasing a franchise and would like answers to common issues and concerns that you may be facing when purchasing a franchise visit our franchise blog. 

Charles N. Internicola, Esq., a partner at the Staten Island law firm of Decker Decker Dito & Internicola, LLP., is an experienced business and franchise lawyer who represents individuals and experienced business owners in business transactions and business litigation in Staten Island, New York City and New Jersey. Charles is the author of the book "An Entrepreneurs Guide to Purchasing a Business" and he is the editor of the New York Franchise Law Blog.  If you are involved in a business transaction, purchasing or selling a business, establishing a franchise system or involved in a business dispute, contact Charles Internicola to discuss the specialized legal services that he provides to his clients.

IMPORTANT DISCLAIMER: The information contained on this website is provided for general educational purposes only, should not be relied on as legal advice and does not serve to create an attorney client relationship. In utilizing this website you acknowledge that there is no attorney client relationship between you and Charles N. Internicola, Esq. and that the information contained on this site does not and cannot serve as a replacement for the competent legal advice of a licensed attorney in your state. The content of this website is subject to the Copyright of its author, Charles N. Internicola, Esq.