Choosing the right franchise to purchase can be an exhausting task, and securing a franchise loan can seem even harder––especially if it’s your first time franchising.

Drawing up a business plan, laying out your current finances on paper, and finding the best way to obtain a loan can seem like huge tasks. But understanding the process and what resources are available to help you along the way can make the loan process much clearer.

Whether you’ve found the right franchise opportunity or are still researching what you’ll need to make your goals of business ownership a reality, here’s an easy-to-follow step by step guide to securing a franchise loan to help you fund your venture: Read more

With an economy looking up after years of uncertainty, many people are now considering new business opportunities that simply seemed impossible five or six years ago.

While the goal of owning your own business may have seemed like a distant dream some time ago, many prospective business owners are discovering new ways to achieve their goals through franchising.

While franchising opportunities exist in many different industries, service-oriented franchises offer unique advantages that appeal to many first-time business owners looking for a reliable investment in their future.

Read more

Whether you’re a current franchisee looking to start growing your team, or still thinking about moving forward with a franchise of your own, hiring your first employee can be a daunting task for first-time employers.

Whether you’d like to start hiring immediately after launching the business or not, if you’re hiring, you’re on the right track for growth.

But especially for new business owners, the chaos of scaling your business up can make it easy to make a hiring mistake that can put a damper on your business’s future.

It’s incredibly important to hire the right person no matter how urgently you need to grow the team. The costs of employee turnover, including the time it takes to hire as well as potential damage to your business’s reputation can be huge.

So how do you ensure your first franchise employees are a great fit for your operation? Let’s go over a few important tips: Read more

“Location, location, location.”

We hear it all the time, but is location really the only thing you need to get right to be successful?

Of course not! We all know success doesn’t just come to those who pick a great spot for their store or office. Businesses succeed when they combine the right location with great products and service, a strong brand message, and quality customer service buyers truly appreciate.

Even with all of these in mind, location and more importantly territory are crucial factors in determining whether or not a franchise has growth potential in the long term––something that shouldn’t be overlooked as you search for the right opportunity. Read more

The Groutsmith is proud to support the men and women who have honorably served our country in the armed forces.

Over the past 13 years, roughly 2.4 military personnel have returned to civilian life here in America. Over the next four to five years, another million will make this transition as well.

Within this group, roughly 22 percent are either starting a new business on their own, buying into a franchise opportunity, or considering one of the two options.

This chart from VeteranOwnedBusiness.com shows how the number of businesses run by veterans breaks down from state-to-state:
Read more