The SBA and FranNet Team Up to Offer Franchising Basics

by Dan Perkins

based on a SBA release dated Thursday, May 8, 2008

Anyone considering franchising as a small business option can now access a new online educational course offered by the U.S. Small Business Administration (SBA) and FranNet    that is designed to help existing or aspiring entrepreneurs gain a better understanding of the competitive franchise industry.

The online introductory course, entitled Franchising Basics, is free, and organized into three key sections that cover more than 10 essential topics pertaining to franchising.  Topics such as Is Franchising Right for You and How to Choose the Right Franchise, help would-be franchisees become better informed about franchising options, strategies for growth, and pitfalls to avoid.  The SBA believes such information better enables individuals to determine whether franchising is the best small business option for their lives and aspirations.

The Franchising Basics course is available on the SBA's website, www.sba.gov.  Once on the site, interested parties can go to the Free Online Training icon and select the option Franchising Basics, which appears in the Starting a Business section.  The courses can be taken at the learner’s pace and in their own time.  A certificate of completion is provided to participants who finish the course.

“SBA is committed to helping entrepreneurs achieve their goals of business ownership, and the online training tool is both accessible and educational in determining if franchising is the right business option,” said Anoop Prakash, SBA’s associate administrator for Entrepreneurial Development. 

“We believe that combining our resources to help build up small businesses and to help train future entrepreneurs is important to strengthening the nation’s small business community.”

The co-sponsorship between SBA and FranNet allows both organizations to help entrepreneurs achieve their goals by giving them the tools to find opportunities, obtain financing, conduct research and set realistic goals.  While investing in a business can be an intimidating, and at times an overwhelming experience, the tools and guidance offered by the SBA and FranNet can ease the process.

“FranNet has been diligently working on increasing the knowledge of the benefits of franchising to the public,” said Jania Bailey, President and COO of FranNet.  “Franchising is not just about french fries, but rather a proven business format that grows businesses quickly.  Hundreds of thousands of people have opened their own business by buying a franchise.  Franchises create thousands of jobs each year, help develop local economies and provide endless business opportunities."

In addition to the social benefits of franchises, Bailey noted personal benefits associated with franchising.  "Buying a franchise is a wonderful way to go into business for yourself, but not by yourself," said Bailey in a press release issued by the SBA.  "Franchises have proven systems and a team of people in place to make sure you are successful in building your business.”

FranNet provides no-cost guidance, information and support to individuals who are interested in purchasing a franchised business.  FranNet consultants specialize in helping their clients find the right franchise through their exclusive matchmaking process.  FranNet also hosts numerous informational seminars and educational programs that are open to the public each month throughout the country and online.  To learn more about opportunities with FranNet call 1-800-FRANNET or visit www.frannet.com.

In its release, the SBA declared that its involvement with the online educational course does not constitute an expressed or implied endorsement of any co-sponsor's opinions, products, or services. The agency also stated that all SBA programs or co-sponsored programs are extended to the public on a nondiscriminatory basis.

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