I HATE PAPERWORK
In fact, we don’t know anyone that really likes paperwork to the point where they want more paperwork. We are supposed to live in a ’paperless’ society – it seems, however, that we use more paper now than
we ever did in the past, and the trend seems to be getting worse rather than better. In a recent survey about which country was the best at setting up a new small business, one of the categories to consider was the ease of starting in terms of the number of forms that had to be completed, and the number of licenses to obtain. Virtually all respondents to the survey sited paperwork as one of the biggest hurdles in getting started in business.
It is not only a heavy burden at the start-up phase, but it is an ongoing and ever increasing problem area.
Is there a business that you could run that has no forms to fill in, no reports to complete, no returns to send etc.? Probably not, but The Interface Financial Group comes close with a revolutionary approach
to working with their franchisees and, in turn, their clients. Interface has evolved a franchise arrangement where all of the ‘paperwork’ is completed by the franchisor – Interface. This relieves the franchisees of the day-today paper chase, and frees up their time to do more productive development work. Interface has created a model known as The IFG 50/50 franchise. In this model they share all aspects of the transaction on a 50/50 basis. Interface has a 42-year history of helping small businesses grow with their innovative invoice discounting program. This program accelerates the cash flow for their small business clients, enabling them to grow at a Such faster pace.
The transaction that Interface undertakes is not a lending situation, but an asset purchase. The asset being purchased is an account receivable – a piece of paper called an invoice. Interface buys invoices at a small discount, hence their title, ‘invoice discounters’. In any such transaction there are many forms, agreements and documents to be completed – there is much ‘paper’ investigation that needs to happen before a transaction is consummated. The good news, for Interface franchisees, is that Interface does it all. Interface franchisees use their skills to develop and maintain a client base. They do this on a face-to-face basis – Interface calls it the ‘people’ part of the transaction.
That’s how the 50/50 approach works:
franchisees do the people part of the transaction and the franchisor, Interface, does the paper part. For Interface franchisees, this means that there literally is a very minimum amount of day-to-day paperwork in running their franchise.
The franchise not only has this low paperwork feature, but it also incorporates another dynamic aspect that allows franchisees to borrow money from the franchisor to purchase the invoices from their clients.
This means that a franchisee needs less of their own capital as they have access to capital from the franchisor – or ‘other people’s money’. History has shown that many great organizations were built using OPM, other people’s money. In the case of Interface, when this feature is implemented it creates a remarkably high return on working capital for the franchisee. This exceptional return, coupled with the low paperwork approach, is surely a case of getting the ‘best of both worlds’ for most Interface franchisees. Interface has perfected this franchise approach, and has seen a rapid growth in their franchisee base as entrepreneurial individuals recognize the advantages of putting their capital to work alongside that of the franchisor’s to produce an above-average return. They quickly see that the franchise represents an opportunity to put capital to work rather than utting themselves to work. Because Interface offers a non-territorial franchise, there is always plenty of space for everyone. There are, however, some very specific background traits that Interface looks for to build its franchise team. Individuals that work well in the Interface environment invariably are exceptional communicators. This means that they have learned the art of listening and absorbing information, and then filtering it to a point where the Interface solution can be applied to the problem. Interface team players all tend to be well-rounded business people, with a high degree of self-discipline. This latter element enables them to work in a homebased business, and often just a one-person business.
There are many business opportunities and franchises available in the marketplace. There are also good selections of financial service opportunities. Interface, however, tends to stand out from the pack with their 50/50 approach, relieving their franchisees franchisor.” of the paperwork requirement. Interface proves that it is possible to hate the paperwork and still own a very successful financial service business.
For more information: Website: www.interfacefinancial.com