Dan Shifrin, a former executive of ZipCar, has launched two Web sites hoping to connect potential franchisees and investors. GroupedUP, the public site, and FranEquity, a private branded site, allow both franchisees and investors to upload profiles saying where they are located, what kind of business they would like to own and how much they would like to invest, Entrepreneur magazine writes.
Franchise companies, especially, have taken advantage of the site, with more than 30 companies such as LawnDoctor, Boston Pizza and Cartridge World participating. These companies develop their own microsites to find and match potential franchisees, the magazine writes.
Shifrin believes that business agreements between strangers are nothing new. “Every time you franchise to an individual, you’re strangers. Every time I’ve raised money for any business, it’s been with strangers ... Good legal is key,” he told Entrepreneur.
Another type of investor for potential franchisees to consider is an angel investor, the magazine writes. Angel investors are individuals with a substantial amount of money who are willing to back up franchisees in the purchase of a business.
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