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5 Things You Can Do With $30,000

$30,000

Believe it or not, now that 2015 has come, the economic woes that began of 2008 are seven years old! Although the economy hasn’t recovered as quickly as we all would hope, Americans are finally to the point where things are looking up. (In December of 2014, the government announced that the economy is growing at a rate not seen in over a decade!)

Since the economy has recovered, more and more people are finding that they have a little disposable income.

So here are the five things you can do with $30,000:

  1. Buy a car – According to Truecar.com, the average price of a car in the U.S. is $31,252. If driving is something that’s important for your personal or professional life (i.e. you don’t live in New York City), then you should consider buying a new or used car. ()
  2. Pay down your credit card debt – According to CreditCards.com the average American household with at least one credit card has around $16,000 in credit card debt. Now, having a little bit of debt is ok but $16,000 is outrageous. Take some of your cash and get back in black.
  3. Go on a very nice vacation – Think back to when you were young, dreaming about traveling around the world. Well do it! Airline companies like the Star Alliance offer “Round the World” fares where you can visit everywhere you’ve always wanted to see
  4. Nothing – Ok. This may be a little cheating, but honestly, it’s what most of you are going to do. Nothing. It’s very easy to let money sit somewhere safely. No one is ever going to question your decision, as the decision not to spend money is often hailed as “fiscally responsible.”
  5. Open your own small business – There’s a myth in this country that you need hundreds of thousands of dollars to open your own business. That statement has never been true and it certainly isn’t true in 2015. This country is full of small business owners who have made a lot out of a little. Now, I’m not recommending the “start a business in your garage” route as those businesses fail at an exceptionally high rate. I’m talking about taking some savings and opening up a location of a well-established turn-key business that has proven economic success.

If you’re interested learning what it takes to open a franchise, then we
have developed a brief quiz that helps us understand what you’re looking for. We then figure out which franchises are looking for new owners in your area and provide you a set of customized results. If you have a few minutes, click here to take the quiz.

My Franchise Agreement is About to Expire – Now What?

The answers to these questions will depend on the language of your specific franchise agreement, although some general principles can be identified:

What is a Franchise?

Most of you are probably already familiar with franchises. You may even patronize a variety of franchised businesses without realising that they are franchises. These businesses range from car servicing and financial services to yogurt and home repairs. According to the International Franchise Association(IFA) franchises employed nearly 9,000,000 Americans in 2015 and generated nearly $880 billion. Franchising is difficult to escape.

Why Franchisors Don’t Like Negotiating

The first impression that the franchisee gets from reading the franchise agreement is total incomprehension, unless they are well versed in legal terminologies and phrasing. The FDD is required to be in plain English but the franchise agreement has no such requirement. Typically, the franchisor’s legal department works extremely hard to secure the franchisor’s position through the Agreement and makes it impenetrable for someone who is not a lawyer to understand. The uniform nature of the agreement for all franchisees makes it assumed that the franchisee must sign the agreement so that all the franchisees follow the same terms. Even though that is partially true, the franchisee can plead their case and negotiate terms where they believe that they are offering something unique to the franchisor.