The recent months of the slowdown of the economy or mild recession depending on how you view it, have forced business owners, franchisees and franchisors alike to operate differently in this climate.  Franchisors are finding the going tough in attracting new operators because of the credit freeze.  Often, a potential franchisee may only have enough capital to pay the franchise fee and is forced to obtain a small business loan for the remaining amount required to open the business.

 

But because of the extremely tight lending regulations currently, some franchisors have chosen to be extremely aggressive in their search for new operators and have been found to offer unusual incentives including even the outright waiver of franchise startup fees.  Other franchise companies are offering steep discounts through programs such as VetFran and MinorityFran.  In fact, more than 300 veterans have become franchisees in various industries over the last 6 years according to data provided from VetFran.

 

But whether you are a veteran or not, now is really a great time to buy that business.  Chances are you can get in at a reduced price and be in front of the curve when the economy bounces back in the very near future.