Looking for Franchise Finance? You May Be Sitting On It Already
Looking for Franchise Finance? You May Be Sitting On It Already
According to the Employment Retirement Income Security Act (ERISA), retirement funds that are in possession of an employer under which the candidate is no longer working can be transferred into usable capital for businesses including franchise opportunities. In order to gain that, you have to create a C – corporation at first. After that, the new corporation will make a retirement plan and the funds available to you will be rolled over to this new plan. With this money, the stocks of the C-corporation will be bought and you as the owner of the corporation can get the money to buy a franchise. The money can be utilized not only for that purpose, but for a variety of other uses such as purchasing real-estate for the franchise, paying franchise fee or other start-up costs and even for business expansion like starting a new unit.
Generally, if you take money from your retirement fund before the age of 59.5, you will be penalized and taxed. But with IRA and 401(K), you won’t have to pay penalty or tax. But you are required to be careful enough while going for this way of starting a franchise. If you are in the fag end of your career and lose the money on dubious franchise, then you may face quite an uncertain retired life. Furthermore, the C-corporation format makes the business difficult to sell and also, you are supposed to work on it yourself. Hence, even if you want to put up your franchise business for sale, you won’t be allowed to do so. On the brighter side, since you are taking loan from yourself only, if it succeeds, you will be rewarded twice fold. Therefore, try to know about it when you have gone for franchise consulting and talk with your franchise attorney and most importantly, go for renowned financial service providers like Guidant Financial Corporation.
Looking for Franchise Finance You May Be Sitting On It Already - To learn more about this author, visit Michael Hemenway's Website.
Like this article? Share it with your friends
At present, there are around one million people who start a business every year and the percentage of them that buy a franchise is quite high. The number could have been higher, if all people dreaming of starting a franchise get adequate funding. That is why new financing programs are finding more and more takers and using retirement funds like IRA and 401(k) have become quite a preferred method.
According to the Employment Retirement Income Security Act (ERISA), retirement funds that are in possession of an employer under which the candidate is no longer working can be transferred into usable capital for businesses including franchise opportunities. In order to gain that, you have to create a C – corporation at first. After that, the new corporation will make a retirement plan and the funds available to you will be rolled over to this new plan. With this money, the stocks of the C-corporation will be bought and you as the owner of the corporation can get the money to buy a franchise. The money can be utilized not only for that purpose, but for a variety of other uses such as purchasing real-estate for the franchise, paying franchise fee or other start-up costs and even for business expansion like starting a new unit.
Generally, if you take money from your retirement fund before the age of 59.5, you will be penalized and taxed. But with IRA and 401(K), you won’t have to pay penalty or tax. But you are required to be careful enough while going for this way of starting a franchise. If you are in the fag end of your career and lose the money on dubious franchise, then you may face quite an uncertain retired life. Furthermore, the C-corporation format makes the business difficult to sell and also, you are supposed to work on it yourself. Hence, even if you want to put up your franchise business for sale, you won’t be allowed to do so. On the brighter side, since you are taking loan from yourself only, if it succeeds, you will be rewarded twice fold. Therefore, try to know about it when you have gone for franchise consulting and talk with your franchise attorney and most importantly, go for renowned financial service providers like Guidant Financial Corporation.
Looking for Franchise Finance You May Be Sitting On It Already - To learn more about this author, visit Michael Hemenway's Website.
Like this article? Share it with your friends
 | |
 |
No article feedback found. |
| |
Leave Your Feedback |
 | |
| |||
|
For an online Car Loan Calculator and finance for a cheap car loan. Get approved on car loans or car finance in Australia with cheap bank car loans and finding a car finance broker. Commercial car loans including business car finance and car lease. Car Loan Calculator has information on finance companies and getting the right cheap car loan from banks at best car loan rates and a online car loan calculator for all finance in Australia. Get the best car finance with our help at Car Loan Calculator and Finance Ezi. - Visit Richard Jefferies's Website |
|||
John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
|||
Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
|||
John BrennanJohn Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan's Website |
|||
Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) In five years, Canadian-born entrepreneur Jay Kubassek went from selling mufflers at a Midas franchise to revolutionizing Internet marketing with the 2004 launch of CarbonCopyPRO, a online marketing education company, now worth over $20 million with customers in over 160 countries.
As an independent film producer, his upstart film fund Aliquot Films is currently producing a films with Spike Lee and Abel Fererra (starring Ethan Hawke and Dennis Hopper.)
Jay's entrepreneurial spirit is irrepressible. He’s the owner of five companies, a professional speaker and trainer, international real estate developer/investor, extreme sport enthusiast and emerging philanthropist. Jay resides in NYC with his wife Jamie, son Milo and dog Cooper. Visit Jay's official website: www.JayKubassek.com - Visit Jay Kubassek's Website |
|||
|
To learn more about the Evan Elite Author Program please contact us. | |||
 | |
|  |
Subscribe to Michael's articles
 |
|
brandEXPANSION Hot Press - Stay up to date with the latest franchise news and opportunities with Hot Press, brandEXPANSION’s daily news and information website. Our staff of writers are dedicated to helping you make the most of your business and providing you information to make the best decision about which franchise industry is right for you.
|
|
 |
 |
|
Michael Hemenway Video - Michael Hemenway's brandEXPANSION represents only the best franchises for sale. We help you search and buy a franchise business for free. We can show you how to franchise your business.
|
|
|
 | |||||||
|
 | ||
 |
||
 |
||
 |
||
|
| ||
 |
| Have you written articles that would be of value to entrepreneurs? Become an expert on our site by publishing them! Expose yourself to a wide audience, drive more traffic to your website and get more sales! Click Here for details. |
|
|
 |
| Modeling the Masters: Learn the true secrets behind Walt Disney's business success factors & grow your company! Video produced by Phanta Media |
|
|
 |
"Learn straight from Evan how you can Make a Full Time Income (And More) from a Website"
Click Here To Learn More |
|
|
|
|
Get advice & tips from famous business owners, new articles by entrepreneur experts, my latest website updates, & special sneak peaks at what's to come!
|
|
|
 Make It Happen ACES Research Report Strategic Alliance Easy Product Ideas Start eTutoring Business |
|
 | ||
 |
Fortune Hunters
CBC Entrepreneur TV | |
 |
Top 50 SEO Posts - 2007
Top SEO Posts of the Year | |
| ||
 | ||||
| ||||
|
| ||||
| ||||
|
|
|
|
|
||||||||||||
|
Email us your ideas on how to make our website more valuable! Thank you Sharon from Toronto Salsa Lessons / Classes for your suggestions to make the newsletter look like the website and profile younger entrepreneurs like Jennifer Lopez and Sean Combs!
|
|
|
