3 Ways that Franchise Loans Can Launch & Grow Your Business
3 Ways that Franchise Loans Can Launch and Grow Your Business:
- Franchise Loans Give You Essential Working Capital Flexibility: Franchise consultants and experts often disagree on various things — such as what sectors are growing, what brands have the most value and so on — but they all agree that exhausting all available capital to purchase a franchise is a major, and often fatal mistake. This is because there’s more to purchase than just the franchise itself. For example, there’s space to rent and renovate, equipment to lease or purchase, staff to hire and marketing campaigns to run. Franchise loans give you the essential working capital flexibility you need to cover these additional costs, so you can hit the ground running from day one vs. scramble to raise more funds in a short period of time, which is risky, stressful and costly.
- Franchise Loans Enable You to Exploit Opportunities: Launching a franchise isn’t all about covering expenses: it’s also about exploiting profitable opportunities. For example, potential strategic partners may reach out to build referral or marketing relationships, key real estate or assets (e.g. equipment, furniture, IT systems, etc.) may suddenly become available due to a liquidation, or you may get a last-minute invitation to showcase at a high-profile conference or trade show. With franchise loans, you’ll be able to jump on these time-limited opportunities instead of sitting on the sidelines and watching your competitors surge ahead.
- Franchise Loans Enable You to Refinance or Recapitalize if You Need Additional Cash: Let’s say that you obtain a $200,000 franchise loan that will be repaid over 62 months (5 years). What happens in year 2 if you need additional funding? In most cases, you can refinance your franchise loan or recapitalize your debt. With the former, you simply replace your initial loan with a new one (i.e. one with a greater value and probably a longer term). With the latter, you reorganize your capital structure by tapping into your equity and replacing it with debt.
Apply for Franchise Financing Today
Franchise success isn’t an out-of-the-box proposition or promise. It takes dedication, determination, commitment and hard work. However, as millions of franchise owners across the country will gladly confirm, the rewards are enormous both financially and personally. In fact, the only regret they have is they didn’t launch a franchise sooner. Fill out our 1-minute application online today to get started!
To learn more about how our franchise loans can help you turn your franchise ownership dreams into reality, download our free eBook “7 Profitable Opportunities that You Could Miss Without More Business Funding”. You’ll discover the most profitable opportunities, including franchising your business or buying a franchise of your own, that your business can take to grow. Plus you’ll explore how business funding can help you make the most of each opportunity.
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