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Home-Based Franchises
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Article 8: Check Out Special Programs
As the number of companies selling franchises has increased, the competition for available buyers has multiplied. Many franchisors seek to attract buyers from groups who would make successful franchisees but historically may not have had the resources to buy a franchise. They are using financial, marketing and mentoring incentives to some potential buyers.
Veterans. More than 200 franchisors provide discounts and other financial incentives to military veterans through the International Franchise Association’s Veterans Transition Franchise Initiative. One purpose is to thank members of the military who risk their lives and sacrifice their careers to defend the United States. Another is to attract people who are trained leaders who understand systems.
For example, Mr. Handyman, which has many home-based franchisees, offers a 25 percent discount off its initial franchisee fee. Minorities. More than 80 franchisors participate in the “MinorityFran” program of the International Franchise Association. The program is primarily a marketing program to build awareness among minority entrepreneurs, but participating franchisors may offer reduction in franchise fees, special financing terms or other special assistance to minority franchise buyers. Women. The International Franchise Association also has created a Women’s Franchise Committee to provide mentoring to female franchisees. The purpose is to exchange ideas and resources that can help women succeed in franchising.
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