SBA-Approved Franchises Expedite the Loan Process Amid an Uncertain Economic Climate
By Jocelyn Chavez
Despite an uncertain economic climate and a tight lending environment, aspiring franchisees are still fulfilling their business ownership dreams. The credit crunch has presented challenges for hopeful franchise owners, however, various lending programs, such as the Small Business Administration’s (SBA) guaranteed loan programs, are facilitating franchise growth and expansion. The SBA is an independent agency of the federal government that helps Americans start, build and grow businesses. Prospective franchisees that choose to purchase an SBA-approved franchise typically have an easier time securing financing because a loan that’s backed by the SBA reduces the lending banks risk, which expedites and streamlines the loan process.
Fortunately, there are numerous SBA-approved businesses and franchises , in various industries and investment levels, to choose from. Whether you’d like to own a home-based franchise, a mobile business that provides onsite services, or a brick-and-mortar retail, restaurant or fitness concept, SBA-approved opportunities abound.
Koko FitClub is an SBA-approved fitness franchise that provides prospective franchisees with the chance to join the multi-billion dollar health and fitness industry. Koko FitClub is the exclusive franchisor of the Koko Smartraining™ System, an advanced, automated strength and cardio equipment and training system that guides members through customized, total body workouts in 30 minutes or less. In addition to offering members a convenient, time-efficient alternative to traditional personal training sessions and typical gyms, Koko FitClub’s system also provides franchisees with an easy-to-operate business model.
Koko FitClub franchisees don’t have to hire and manage a staff of personal trainers because the automated Koko Smartraining™ System provides members with exercise instruction, real-time guidance and feedback. With minimal staffing requirements, no inventory to manage and no perishables, Koko FitClub franchisees can run multiple units with ease. Koko FitClub locations feature a sleek studio design that requires only 1,800 square feet, which keeps real estate costs down. Previous fitness industry experience is not necessary to become a Koko FitClub franchisee, as comprehensive training and support is provided. Koko FitClub’s proprietary technology, efficient design and affordability provides Koko FitClub franchise owners with a powerful competitive edge in the health and fitness industry.
Colors on Parade, the “Original Body Shop on Wheels,” is another affordable, SBA-approved franchise that gives prospective business owners an edge in the marketplace. For more than 20 years, Colors on Parade has been a leading provider of onsite automotive appearance repair services such as paint repair, paint-less dent removal (PDR) and interior repair. The top-ranked franchise, which is consistently recognized as one of the "Top 500 Franchises" by Entrepreneur magazine, offers would-be business owners the chance to own a low-overhead, mobile business in the recession-resistant automotive repair industry.
As people keep their vehicles longer, the need for automotive repair services continues to grow. With auto dealers, fleet operators, body shops and consumers relying on the automotive appearance repair services that Colors on Parade provides, franchisees enjoy the advantages of owning a business that serves a vast customer base. The concept’s mobile, home-based business model keeps franchisees’ overhead and operating costs down. Both operator franchise ownership and area development ownership opportunities are available, and franchisees receive extensive training.
Regardless of the industries that you’re interested in joining, there are numerous SBA-approved concepts to choose from. Franchise Solutions’ directory of SBA-approved franchises and businesses , showcases a wide-range of concepts in numerous industries, so start exploring your options now .