Small Bizeo – Big Tool For Franchise Businesses
The franchise business is huge; so much so that there are entire conferences built around connecting franchisors with potential franchisees. And despite all the franchise conferences available, the trouble is that it can be very difficult and frustrating for interested franchisees to find relevant, objective information about a franchise business. That’s where Small Bizeo (www.smallbizeo.com) comes in – the new website offers extensive research on small businesses and franchise opportunities – information they can’t find anywhere else.
Founded by Kal and Krishna Gullapalli, Small Bizeo is designed to provide small business investors the types of tools and analytical resources enjoyed on Wall Street. They realized that buying a franchise or small business can be a very risky proposition, and in too many cases, wannabe entrepreneurs can choose a business based on emotion and a lack of hard, fast data about the business. “Potential franchise buyers were making decisions based on their passion for the product, personal observations about store traffic, information from the franchise seller or data from a broker with a financial incentive to steer them in a certain direction,” says Kal Gullapalli, who was a Wall Street research analyst for nearly a decade covering the restaurant sector before returning to his small business roots. “People who buy franchises or small businesses put their life savings into the enterprise. We want to give them the tools to make the right decisions.”
“Small Bizeo provides insight for buyers making those kinds of purchases. For a small fee, they get franchise information and guidance to help them maximize returns on major investments or avoid making a mistake that can cost them their life savings,” Gullapalli adds. The service offers premium members extensive research on franchise opportunities, with information such as failure rates, average unit economics, franchise growth rates, national growth potential, management experience and the level of franchisee training commitment. In addition to small business reports and analytical tools users can’t find elsewhere, Small Bizeo delivers a comparison platform that allows potential investors to make direct comparisons between franchises based on objective factors. Site users also have access to a listing of more than eight thousand businesses for sale.
“There are really crucial questions some investors miss,” notes Gullapalli. “For example, if you’re thinking about buying a gas station, it’s incredibly important to find out the composition of the property’s underground fuel tanks. If they’re not up to EPA standards, you can end up being responsible for a very expensive clean-up operation.”
Daniel Goh is the founder and chief editor of Young | Upstarts, as well as an F&B entrepreneur. Daniel has a background in public relations, and is interested in issues in entrepreneurship, small business, marketing, public relations and the online space. He can be reached at daniel [at] youngupstarts [dot] com.