| Everyone has been hit by the recession, but | | | | more. Because some of these services are so |
| perhaps none more than the banking industry. | | | | hard for businesses to come by in the current |
| Banks have seen a great variety of troubles in | | | | economy, this business is in high demand, and as |
| 2008, mostly resulting from outrageous | | | | such, a franchisee's earning potential is through the |
| over-lending to homebuyers who would never | | | | roof. Some brokers begin on a part-time basis, |
| have the resources to make their mortgages. | | | | but when they find what they could be earning, |
| This year saw Washington Mutual all but collapse | | | | they quickly advance to fulltime brokering. |
| on itself before being bought out by JP Morgan | | | | Blue Coast Financial Group |
| Chase Manhattan; then Wachovia was consumed | | | | Another great franchise option for someone with |
| by Citigroup in September; and only a month | | | | a background in banking is Blue Coast Financial |
| later, in October, Goldman Sachs had to make | | | | Group, which specializes in providing expense |
| cutbacks, which resulted in a layoff that left over | | | | recovery cost-saving services to businesses of all |
| 3000 employees without work. In total, at least | | | | shapes and sizes. Whether a franchisee has past |
| 110,000 banking jobs have been lost so far in | | | | experience in financial work or not, the franchisors |
| 2008. | | | | can train new Blue Coast Financial Group advisors |
| A Fortune Magazine article printed just after the | | | | in all aspects of providing specific services including |
| Goldman Sachs fallout asked a very important | | | | workers compensation recovery, cost |
| question in the midst of all this banking turmoil: | | | | segregation studies, energy deregulation, and |
| where are all these laid-off bankers supposed to | | | | equipment leasing. In all areas, this home based |
| go? The answers they listed included smaller | | | | business is dead set on saving clients money in |
| investment firms, government agencies, business | | | | any and every way possible, which, backed by |
| consultancies, and foreign investment markets. | | | | smart marketing systems and pre-set |
| Of course, what they failed to mention as a viable | | | | appointments, can exponentially increase your |
| work option was franchise business. Though many | | | | income, even in recession. |
| people overlook the possibility of owning and | | | | Credit CRM |
| operating a franchised small business, it is a great | | | | Knowing a thing or two about the banking |
| potential source of income that comes with an | | | | industry, lending, and particularly mortgages can |
| established track record and often involves very | | | | only add to a person's success as a Credit CRM |
| little overhead cost. If you are an ex-banker | | | | credit repair agent. Each day, more and more |
| looking for work, and purchasing a business for | | | | people are finding it virtually impossible to find a |
| sale sounds like a viable option in your given | | | | lender that will let them purchase a home, all |
| conditions, here are a few franchise ideas that | | | | because lenders are increasingly picky about the |
| benefit from a franchisee with a financial | | | | credit scores of their loan recipients. Work from |
| background. | | | | home as a Credit CRM franchisee and help these |
| Roni Deutch Tax Center | | | | people fix their credit scores. It's a great way to |
| In 2006, 62% of American personal tax returns | | | | help others while taking advantage of a strong |
| were professionally prepared and filed, and | | | | business opportunity. |
| according to research, tax preparation is still one | | | | Padgett Business Services |
| of the most fragmented industries that exist. | | | | When a business owner can't manage the |
| What all that means is that there is unrivaled | | | | finances or simply doesn't want to, Padgett |
| demand for tax preparation and accounting | | | | Business Services steps into view as an excellent |
| services, and so far, there is no single company | | | | choice for out-sourced financial services. Each |
| dominating the market. Therefore, the | | | | franchisee is fully trained, given support when a |
| opportunity to get in on this industry's success | | | | client has issues that are over his head, and even |
| with an up-and-coming franchise like Roni Deutch | | | | provided with support for further accounting |
| Tax Center is a great one. Though having | | | | education. And if anyone has any concerns about |
| previous financial industry knowledge helps, it is | | | | the validity of this accounting franchise, Franchise |
| not necessary, as the franchisor can teach you | | | | Business Review has recognized Padgett Business |
| everything you need to know. And with a variable | | | | Services as one of the 50 top franchises, and |
| business model that can be operated either | | | | Accounting Today touts it as one of the 100 best |
| seasonally or year-round, with other financial | | | | accounting firms, which puts it a neck above |
| services as well, there is room here for anyone | | | | virtually every other accounting business and |
| to put taxes to work for them. | | | | franchise out there. |
| Global Broker Systems | | | | Though losing a job can leave a person feeling |
| Knowledge of banking is directly applicable to | | | | rather destitute, there is no reason to fear for |
| franchisees in this financial brokerage home | | | | the future. Even if there is no employment |
| business. Franchisees work with various loan | | | | opportunity on the horizon, franchises offer great |
| agencies to give clients access to all kinds of | | | | business opportunities for just about anyone, |
| financial support, like lease financing, debt | | | | including those hailing from the banking sector. |
| restructuring, accounts receivable loans, and much | | | | |