How staffing experience can equal franchise funding
Sometimes, becoming a franchisee can seem a little intimidating--and expensive. TRC Staffing, an Atlanta-based staffing company, makes the transition a lot easier by providing about 85 percent of a franchisee's total start-up costs in the form of a loan through its Freedom Franchise program. "It's a program we put together about six years ago to help people with industry experience become franchisees," says Steve Sanders, vice president of field operations for TRC Staffing's franchise division.
Qualified candidates should have at least five years of management experience in the temporary help or staffing industry and $25,000 of capital to invest.
A $78,000 business loan is distributed to the franchisee in installments each month for the first year. The franchisee begins paying back the loan at the beginning of his or her third year. During the first two years, the loans for franchisees who reach certain gross margin benchmarks are partially forgiven in amounts between $12,500 and $50,000.
In addition to the loan, franchisees receive a $50,000 stipend that's dispersed in equal installments over the first year. The franchisor also provides "back office" support and local staff training, 100 percent financing of payroll and receivables, nationwide field support, and additional financing for expansion after the first year.
TRC still has markets available in major U.S. cities. It adds an average of six to seven franchises each year and currently has 44 franchises nationwide.
Golden Lake Recreational Pet Camp, (888) 858-7638, firstname.lastname@example.org
TRC Staffing, (800) 488-8008, http://www.trcstaff.com