Option Four: The Franchise Broker Route

Right now I am heavily pursuing option 4 from my June 3 post, "4.] Finance an existing Sylvan from an individual owner. I've got some brokers looking into this for me."

These brokers are good people, and in the matter of 2-3 weeks they've searched through their contacts across the state and the West and come up with a couple of interesting options. Apparently there are some motivated sellers out there, and now it's up to me to investigate their numbers, look at profits and losses, and come up with what I think is a good offer. Now, while work is kicking into overdrive, there just isn't enough time to devote to this. Also, I want to wait for my advisers to let me know what kind of offer is realistic.

I'm definitely in a wait-and-see mode right now.

The Home-Equity Door Slams Shut - Kiplinger.com

Not sure if I should be worried at all about this or not.

The Home-Equity Door Slams Shut - Kiplinger.com: "in certain communities -- especially in California and Arizona, where home values are 'clouded' and difficult to pin down -- the company might choose not to do business at all right now"

Entrepreneur Blog - Economic Stimulus Benefits for Small Business - Entrepreneur.com

You may not have realized the Economic Stimulus Package included benefits not only for individual taxpayers in the form of an extra refund amount, but also includes a handful of benefits for the small business. Some of the information directly from the IRS is, as expected, not easy to read and understand, but at least your accountant should know about these incentives. Thanks Kristin for reminding us new entrepreneurs about this 2008 benefit. Read her article here, Entrepreneur Blog - Economic Stimulus Benefits for Small Business - Entrepreneur.com

5 Ways to Start Your Business With No Money! at Personal Finance Blog, Budgeting, Debt @ Bankaholic

It's short and sweet, but yeah, starting my business with as little upfront cost as possible is clearly the way to go. I don't want to have a giant loan over my head for too long, and the less I have to borrow, the better off I'll be.

5 Ways to Start Your Business With No Money! at Personal Finance Blog, Budgeting, Debt @ Bankaholic

Senate Approves $101 Million Budget Increase for Small Business Programs

Wouldn't it be nice to work for a government agency that actually gets an injection of cash like this? I'd love to see SCORE and the SMDC offices use this money to increase the frequency with which they offer workshops and seminars. Maybe they could reduce the rate they charge a bit for them, or offer some kind of an assistance program?

Senate Approves $101 Million Budget Increase for Small Business Programs

Too Many Options

First, I'm biting my nails wondering if purchasing my own franchise is something that could really happen, then all of a sudden it's already happening. Also, I'm in a bit of a bind/crossroads because too many options have now presented themselves. Here's what I see as my six options at the moment. I can:

1.] Purchase a refranchised Sylvan Learning Center from corporate.

2.] Get a territory from corporate.

3.] Invest in a territory from another individual or broker.

4.] Finance an existing Sylvan from an individual owner. I've got some brokers looking into this for me.

5.] All of the above. Go gung ho, explore ALL of the above options, then make a more informed decision.

6.] None of the above. Hold off for now, 6 months to 2 years, build up some "personal reserves" of $$$, get more experience with Sylvan, selling, managing, marketing, etc. <-- was my original plan

So far, I've only really made any headway with #1, and the numbers are not exciting enough to entice my investors. Please, your comments.