South Asians Making Significant Strides In The World Of Franchising

(Continued From Page 01)

The success of numerous South Asian franchise owner’s evidences this across the nation. Such as Sanjeev Khanna (founder and chairman of GS Dallas Group), along with his partners, Govind Agrawal, Rahul Agrawal, Ambika Khanna Cheruvu, and Shivam Khanna, are involved in various franchises, including Subway, Wing Stop, European Wax Center, Massage Envy, Great American Cookies, and Aloft Hotels.

The group, which has offices in Dallas and Houston, owns and operates over 200 locations across seven states and Ruchika, Prashant Nagrath, Ruchika, and Prashant’s remarkable growth from 3 to 102 franchise locations in less than 30 months, even during the challenges of the COVID-19 pandemic, demonstrates the potential for franchising to be a safe and scalable path to achieve financial and time freedom.

And many others from Dallas. Similarly, Houston is home to numerous successful South Asian franchise owners.

South Asian parents often place a strong emphasis on education, which plays a significant role in the success of many of these entrepreneurs.

Education helps young people develop critical thinking skills and provides them with the knowledge they need to succeed academically and professionally.

South Asians are also passionate about learning new skills, which can be beneficial when starting a business or managing one success- fully.

In addition to having access to educational opportunities, South Asians have access to numerous resources that help them gain insight into franchising.

These include online forums where people can ask questions about franchises, research conducted on franchising opportunities, seminars held by franchisors or industry experts on topics such as legal issues related to franchising, or financial management tips for franchisees; all these resources give potential franchisees invaluable information they need before making any decisions regarding franchising.

For many South Asians, franchising offers an attractive option, as it is a proven business model with lower risks and higher chances of success than independent startups.

Franchising allows an individual to get into business with an established brand name with its own loyal customers and employees.

It also reduces the time required for market research & development, marketing & promotion, customer service & loyalty building activities when starting an independent venture.

Furthermore, franchisors provide support services such as business training & consultations, which help franchisees run their businesses efficiently and effectively.

In Houston alone, several successful South Asian franchise owners are making a mark for themselves in various industries such as hospitality, retail, food service, etc.

(Continued On Page 06)

Buying a home can be intimidating, whether this is your first time or you’ve been around the real estate block before. The good news? You don’t have to go it alone. If you’re looking for a trusted partner throughout the process, working with a housing counselor can help prepare you for homeownership.

If you’re not sure what a housing counselor does or whether this service is right for you, consider these insights from Freddie Mac:

What is a Housing Counselor?

Housing counselors are trained, independent professionals who are available to offer advice, listen and help you make informed decisions based on your financial situation and needs — often at little or no cost. Their job is to help you navigate the homebuying journey and ensure you’re financially prepared for long-term, successful homeownership.

What Services Do They Provide?

One of the primary roles of a housing counselor is to prepare you for homeownership through workshops and one-on-one counseling. The counselor will start by asking you questions about your income, credit and savings to help determine if you’re ready to buy and how much you plan on spending. Similar to a conversation with a potential lender, the more organized and prepared you are, the more productive your conversation will be. Once they understand your current financial situation, they will:

• Provide guidance on down payment options and local down payment assistance programs.

• Help you understand the features and costs associated with the various types of mortgages available.

• Teach you important financial skills, such as planning your budget and building, maintaining and improving your credit.

• Advise you on the role of your real estate agent and lender.

It’s important to know that housing counselors can be there for you beyond the homebuying process. For example, if you are facing financial difficulties and struggling to pay your mortgage down the line, a housing counselor can offer financial guidance and work with your lender to help you avoid foreclosure.

• Reach out to a HUD-certified housing counselor at one of Freddie Mac’s Borrower Help Centers or Borrower Help Network for free assistance.

• Search for a HUD-certified housing counselor in your area on the Consumer Financial Protection Bureau’s website.

That moment when your child receives an acceptance letter to a coveted college is a time to feel pride in their achievements and excited about their future. It’s also a time to make sense of the school’s price tag. That’s where financial award letters come into play.

“You’ll receive an award letter from each school your student was accepted to listing all the details of the financial aid package,” says Angela Colatriano, College Ave Student Loans. “This information helps you figure out what’s covered and how much your family is expected to pay.”

Unfortunately, if you’re like many parents, you may not be prepared for everything you read in these award letters. In a recent College Ave Student Loans survey, only 30% of parents who received award letters said they received as much aid as they expected, and 74% said they found the expected family contribution surprisingly high. Colatriano also notes that because the layout of these letters varies from school to school, it can be hard to compare their terms. To help you decipher your financial aid award letters and figure out how to pay for college this fall, consider these tips and insights:

1. Sort grants and scholarships from other aid: If your child was awarded a federal grant or scholarships from the college, they will be listed on your award letter. These do not need to be repaid and are applied directly to the school’s tuition. You can also pursue outside scholarships. One easy one to apply for is the College Ave $1,000 monthly scholarship sweepstakes. Encourage your student to apply for scholarships year-round, as every little bit helps.

2. Delve into federal aid: The award letters will show you if your student qualified for the Federal

How Do You

Find

A

Housing Counselor? Although finding a housing counselor can be as simple as running a search online or calling a hotline, it’s important to carefully consider your options.

Unfortunately, scam artists abound, preying on home buyers and struggling homeowners alike.

Here are three ways to find a legitimate housing counselor: