With More Bankers Laid Off, What Can Small Business Franchises Offer?
With More Bankers Laid Off, What Can Small Business Franchises Offer?
A Fortune Magazine article printed just after the Goldman Sachs fallout asked a very important question in the midst of all this banking turmoil: where are all these laid-off bankers supposed to go? The answers they listed included smaller investment firms, government agencies, business consultancies, and foreign investment markets.
Of course, what they failed to mention as a viable work option was franchise business. Though many people overlook the possibility of owning and operating a franchised small business, it is a great potential source of income that comes with an established track record and often involves very little overhead cost. If you are an ex-banker looking for work, and purchasing a business for sale sounds like a viable option in your given conditions, here are a few franchise ideas that benefit from a franchisee with a financial background.
Roni Deutch Tax Center
In 2006, 62% of American personal tax returns were professionally prepared and filed, and according to research, tax preparation is still one of the most fragmented industries that exist. What all that means is that there is unrivaled demand for tax preparation and accounting services, and so far, there is no single company dominating the market. Therefore, the opportunity to get in on this industry’s success with an up-and-coming franchise like Roni Deutch Tax Center is a great one. Though having previous financial industry knowledge helps, it is not necessary, as the franchisor can teach you everything you need to know. And with a variable business model that can be operated either seasonally or year-round, with other financial services as well, there is room here for anyone to put taxes to work for them.
Global Broker Systems
Knowledge of banking is directly applicable to franchisees in this financial brokerage home business. Franchisees work with various loan agencies to give clients access to all kinds of financial support, like lease financing, debt restructuring, accounts receivable loans, and much more. Because some of these services are so hard for businesses to come by in the current economy, this business is in high demand, and as such, a franchisee’s earning potential is through the roof. Some brokers begin on a part-time basis, but when they find what they could be earning, they quickly advance to fulltime brokering.
Blue Coast Financial Group
Another great franchise option for someone with a background in banking is Blue Coast Financial Group, which specializes in providing expense recovery cost-saving services to businesses of all shapes and sizes. Whether a franchisee has past experience in financial work or not, the franchisors can train new Blue Coast Financial Group advisors in all aspects of providing specific services including workers compensation recovery, cost segregation studies, energy deregulation, and equipment leasing. In all areas, this home based business is dead set on saving clients money in any and every way possible, which, backed by smart marketing systems and pre-set appointments, can exponentially increase your income, even in recession.
Credit CRM
Knowing a thing or two about the banking industry, lending, and particularly mortgages can only add to a person’s success as a Credit CRM credit repair agent. Each day, more and more people are finding it virtually impossible to find a lender that will let them purchase a home, all because lenders are increasingly picky about the credit scores of their loan recipients. Work from home as a Credit CRM franchisee and help these people fix their credit scores. It’s a great way to help others while taking advantage of a strong business opportunity.
Padgett Business Services
When a business owner can’t manage the finances or simply doesn’t want to, Padgett Business Services steps into view as an excellent choice for out-sourced financial services. Each franchisee is fully trained, given support when a client has issues that are over his head, and even provided with support for further accounting education. And if anyone has any concerns about the validity of this accounting franchise, Franchise Business Review has recognized Padgett Business Services as one of the 50 top franchises, and Accounting Today touts it as one of the 100 best accounting firms, which puts it a neck above virtually every other accounting business and franchise out there.
Though losing a job can leave a person feeling rather destitute, there is no reason to fear for the future. Even if there is no employment opportunity on the horizon, franchises offer great business opportunities for just about anyone, including those hailing from the banking sector.
With More Bankers Laid Off What Can Small Business Franchises Offer - To learn more about this author, visit Candice Clem's Website.
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Everyone has been hit by the recession, but perhaps none more than the banking industry. Banks have seen a great variety of troubles in 2008, mostly resulting from outrageous over-lending to homebuyers who would never have the resources to make their mortgages. This year saw Washington Mutual all but collapse on itself before being bought out by JP Morgan Chase Manhattan; then Wachovia was consumed by Citigroup in September; and only a month later, in October, Goldman Sachs had to make cutbacks, which resulted in a layoff that left over 3000 employees without work. In total, at least 110,000 banking jobs have been lost so far in 2008.
A Fortune Magazine article printed just after the Goldman Sachs fallout asked a very important question in the midst of all this banking turmoil: where are all these laid-off bankers supposed to go? The answers they listed included smaller investment firms, government agencies, business consultancies, and foreign investment markets.
Of course, what they failed to mention as a viable work option was franchise business. Though many people overlook the possibility of owning and operating a franchised small business, it is a great potential source of income that comes with an established track record and often involves very little overhead cost. If you are an ex-banker looking for work, and purchasing a business for sale sounds like a viable option in your given conditions, here are a few franchise ideas that benefit from a franchisee with a financial background.
Roni Deutch Tax Center
In 2006, 62% of American personal tax returns were professionally prepared and filed, and according to research, tax preparation is still one of the most fragmented industries that exist. What all that means is that there is unrivaled demand for tax preparation and accounting services, and so far, there is no single company dominating the market. Therefore, the opportunity to get in on this industry’s success with an up-and-coming franchise like Roni Deutch Tax Center is a great one. Though having previous financial industry knowledge helps, it is not necessary, as the franchisor can teach you everything you need to know. And with a variable business model that can be operated either seasonally or year-round, with other financial services as well, there is room here for anyone to put taxes to work for them.
Global Broker Systems
Knowledge of banking is directly applicable to franchisees in this financial brokerage home business. Franchisees work with various loan agencies to give clients access to all kinds of financial support, like lease financing, debt restructuring, accounts receivable loans, and much more. Because some of these services are so hard for businesses to come by in the current economy, this business is in high demand, and as such, a franchisee’s earning potential is through the roof. Some brokers begin on a part-time basis, but when they find what they could be earning, they quickly advance to fulltime brokering.
Blue Coast Financial Group
Another great franchise option for someone with a background in banking is Blue Coast Financial Group, which specializes in providing expense recovery cost-saving services to businesses of all shapes and sizes. Whether a franchisee has past experience in financial work or not, the franchisors can train new Blue Coast Financial Group advisors in all aspects of providing specific services including workers compensation recovery, cost segregation studies, energy deregulation, and equipment leasing. In all areas, this home based business is dead set on saving clients money in any and every way possible, which, backed by smart marketing systems and pre-set appointments, can exponentially increase your income, even in recession.
Credit CRM
Knowing a thing or two about the banking industry, lending, and particularly mortgages can only add to a person’s success as a Credit CRM credit repair agent. Each day, more and more people are finding it virtually impossible to find a lender that will let them purchase a home, all because lenders are increasingly picky about the credit scores of their loan recipients. Work from home as a Credit CRM franchisee and help these people fix their credit scores. It’s a great way to help others while taking advantage of a strong business opportunity.
Padgett Business Services
When a business owner can’t manage the finances or simply doesn’t want to, Padgett Business Services steps into view as an excellent choice for out-sourced financial services. Each franchisee is fully trained, given support when a client has issues that are over his head, and even provided with support for further accounting education. And if anyone has any concerns about the validity of this accounting franchise, Franchise Business Review has recognized Padgett Business Services as one of the 50 top franchises, and Accounting Today touts it as one of the 100 best accounting firms, which puts it a neck above virtually every other accounting business and franchise out there.
Though losing a job can leave a person feeling rather destitute, there is no reason to fear for the future. Even if there is no employment opportunity on the horizon, franchises offer great business opportunities for just about anyone, including those hailing from the banking sector.
With More Bankers Laid Off What Can Small Business Franchises Offer - To learn more about this author, visit Candice Clem's Website.
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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 |
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
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John AlexanderJohn has taught keyword research and SEO skills to small groups of business owners and Webmasters from over 80 different countries world wide since 2002. John is also the Director of Search Engine Academy ; Co-director of Training at Search Engine Workshops offering live, SEO Workshops with his partner SEO educator Robin Nobles, author of the very first comprehensive online search engine marketing courses at SEO Training Online and the SEO Workshop Resource Center. I look forward to hearing from you! - Visit John Alexander's Website |
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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 |
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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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 |
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Casey GollanCasey Gollan, Business Coaching & Mentoring Programs. Add $1 Million to $10 Million in the next 1 to 3 years. Since 1996 Casey has to added hundreds of millions of dollars to businesses. Watch a free video see client results Business Coaching website. - Visit Casey Gollan's Website |
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