Now ordinary folks can purchase ownership in a franchise for as low as $1,000 with the online business launched by Forever Yogurt Co-Founder and Chief Executive Officer Mandy Palara, Tampa Bay Times reported.
In December, Palara rolled out CrowdFranchise.com with the aim of growing his self-serve yogurt chain that currently has 24 shops. With his platform, he also hopes to eventually link investors with other franchise ideas. Palara is seeking to promote nine new franchises that will be owned by the group which includes one located in Tampa and another in Miami Beach where Forever Yogurt has an outlet in Ocean Drive, the report said.
Investors are able to cast their votes on matters about the franchise and receive a portion of profits made depending on how much of the franchise they own. Determining the locations for the store as well as management are taken care of by the corporate office. Investors only lose their initial capital if the business folds but will not be held responsible financially, the report said.
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