As you look to become a Franchisee, one of the great advantages a franchise has over a start-up is the ability to leverage your investment. While there are some banks that will still loan funds to a qualified individual to start a company, they are few and far between. Nowadays, you have to bring more and better information to the table to get a loan. With a franchise this process is much easier. Franchises have a track record of hundreds of other business owners who have run this type of business successfully. They also provide the FDD which contains exact start-up cost, materials, suppliers and more. Franchise investment is much easier than investing in a new business.
Franchisors many times have relationships with preferred lenders that help their franchise prospects apply for and obtain funding. It all makes perfect sense. If you were loaning your money, wouldn’t you want to see the highest chance of success possible for your borrower? Franchising has proven time and time again to provide this. Therefore, banks prefer a business with data, statistics, and proof to back up the borrower’s claim.
We have many different types of funding programs available. For information on funding your franchise, call today.