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Ameriprise Made It Harder to Be a Zee

Ameriprise Financial, where franchise owners pay back their small business loans better than any other, angered its employees in 2009 by making it much harder to become franchisees.

Ameriprise employees now must meet steep qualifications, such as working for the company for 10 years, before becoming a franchisee, or face paying high fees to set up their own shops. [Read RiaBiz for the complete story]

The company in 2009 said it wanted to be "moving away from the branded-franchise business toward a business built on employee-advisors, many drawn from the wirehouses." Apparently, franchisees in Ameriprise typically come from the ranks of employees.

This year, Ameriprise is ranked #1 in having the best success rates, in which essentially all their franchises had enough margin to pay back their SBA-backed loans. Here's proof that employees who work in a company and an industry for a long time make better, less risky franchisees.

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About Don Sniegowski

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Don Sniegowski is editor of Blue MauMau, the daily news journal for franchise & small business owners. Contact him at +1 (270) 321-1268, @bluemaumau or don@bluemaumau.org.