Small businesses and franchise start ups can face a gamut of tests within their first year of operation. According to the Small Business Administration, 10 percent of new businesses will fold within the year and only half will make it to five years. Some successful corporations have noticed this trend and are stepping in to try and assist potential owners with the difficult process of starting out.
Boston based Samuel Adams Beer Company started as a single-man operation 28 years ago, and founder Jim Koch will be spreading his knowledge with potential hospitality business owners with years of wisdom gained by trial and error in his "Brewing the American Dream" program. Online resources and in-house workshops coach potential businesspeople on what to expect and how to avoid disaster. Before applying for a franchise loan or a business startup loan, people can attend this free program to make sure they have the knowledge to engineer a successful business plan and make the best use of their money.
UPS is also taking initiative to educate potential franchisees on the in's and out's of their business picture. Like the American Dream program, this information is available online and in person, giving investors an idea of what to expect from starting their own UPS location before they apply for franchise financing. If you're looking to get a competitive offer on a franchise loan consider an online marketplace like Boefly to match you with a variety of lenders.
"Our … seminars and webinars can help individuals learn more about joining a network of more than 4,300 franchised small businesses," said franchise development director Chris Adkins. "It's a great time to consider the UPS Store franchise opportunity."