Looking for an investor for a weightloss franchise?
Lisa K asked:
My wife and I have owned a travel club now for the last 3 years, and we have decided we would like to buy a weightloss franchise called Physicians Weightloss. We have been very successful in our travel business, but it involves alot of traveling for work, and we have a child on the way. We would like to get into another business where we dont have to travel out of town all the time. We have researched this franchise and spoke with several current franchise owners. This is definitely what our next move will be, but we only have half the amount needed to buy the franchise and have enough working capital to get us through the first 6 months with our personal bills. We are homeowners, but have only had the house for 1 year, so home equity is out. We are only in need of approximately $30,000. We could borrow from our parents, as they are well off, however, we are very proud people, and do not like the idea of relying on family and friends to float us money. Anyone have an alternate idea?
Fastest Way to Lose Weight
My wife and I have owned a travel club now for the last 3 years, and we have decided we would like to buy a weightloss franchise called Physicians Weightloss. We have been very successful in our travel business, but it involves alot of traveling for work, and we have a child on the way. We would like to get into another business where we dont have to travel out of town all the time. We have researched this franchise and spoke with several current franchise owners. This is definitely what our next move will be, but we only have half the amount needed to buy the franchise and have enough working capital to get us through the first 6 months with our personal bills. We are homeowners, but have only had the house for 1 year, so home equity is out. We are only in need of approximately $30,000. We could borrow from our parents, as they are well off, however, we are very proud people, and do not like the idea of relying on family and friends to float us money. Anyone have an alternate idea?
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Certainly. Sell the travel business, roll the proceeds into the Weight Loss business. If the equity isn’t sufficient in the Travel business after 3 years, rethink why you are doing this. If it is to get out from an unsuccessful franchise than I understand, if it is because you haven’t been successful enough, then opening another business may be riskier than you are are realizing.
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