The Flagg Agency

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Yay! We have been approved. Now I start the first step in this journey. It is off the UPS Store to get a mailbox with a physical address. I don’t want someone unhappy with a cruise showing up at our doorstep.

Congratulations, I’m pleased to inform you that you’ve been approved to purchase a franchise.

Further to our most recent conversations this approval will likely be used in your purchase of an existing franchise. If you decide not to purchase an existing you may proceed to complete the process for a new franchise.

This approval is conditional upon you entering into a current franchise agreement within 45 days.

The authorization and release form is now with the franchisor. All I need to do is wait for them to check our background and credit. Should there be a problem, we will be dead in the water, but I seriously doubt there is.

I moved all but a grand out of our emergency fund bank account to one of our checking accounts. It will take about five days to complete. Assuming we are approved, the next steps will be as follows.

Get an EIN from those folks in Washington known as the IRS. See if I need to get an EIN for our state as well.

I spent part of the afternoon visiting different banks. I want to do a comparison of what it costs to open a business checking account. The competition is so stiff that I am finding “free” business checking is available. In a business that will not generate income for 15-18 months because of the way the cruise lines pay commission, I want to be sure what income I have is not eaten away in various fees.

We are going to be infusing our franchise with a personal loan. We want to have a separate account so when it comes tax time, we can show we didn’t try to justify school supplies using business money.

In an era where research is just a Google away, you would think the likelihood of an internet saavy fellow getting taken would be slim. Yet, I read the sad tales of other parents being taken by an “unbelievable” opportunity. They were sold on a MLM scheme by the promise of travel discounts and the ability to make loads of cash on commissions. Little do they know they will only make money by recruiting others with the same promise they had been given.

Imagine thinking about a home based business and deciding to invest in less than a week. Now imagine you would ask about it on an online message board related to cruises and getting an email from someone who had just thought about selling his cruise sales business. Finally imagine that this person would live less than 30 miles form you. I wouldn’t take those odds ever!

The story above is exactly what has happened in our life this past week.