Show me the money! The number one reason people don’t start their own business is funding problems. This is something that needs serious consideration. In fact many people waste a lot of time looking into a business, doing research, and getting excited, before they even look at the funding side of things. Funding should be one of the first things you look at.
There are many funding sources. Of course most loans and franchise funding will require some amount of cash investment from the new owner. This helps to ensure lower risk from the lenders standpoint. The amount of money you need will depend on the total investment of the franchise. Usually they will want you to put up 30-50% up front of your own cash.
Funding can come from multiple sources such as bank loan, SBA loan, or Credit Cards (no interest for a year promotion). Loans will usually require a credit score above 700 and sometimes even above 720.
Another way to fund a franchise business is through your retirement accounts; This could be a 401K and certain types of IRA’s and SEP’s. This is a great way to fund your business without it being considered a loan. So you don’t need to qualify from a credit standpoint. Instead of your 401K being invested in other mutual funds, etc, part of your 401K can now be funded into your own business. What a great way to fund your own business and to grow your retirement over the years.
One of our partners, Benetrends, has some great programs to help you in funding your new business. Watch this video and then give us or them a call. Benetrends Complete Services: Click to watch our video. It costs nothing to check out what you can qualify for.
The great thing about funding a franchise is that there is probably a franchise that can meet your level of funding. We have franchises that costs $20,000 or up to 1/2 million. Service industries, retail, business to business, home based; there is a franchise for you!
Contact Franchise Info 4 You or check out more of the website. www.FranchiseInfo4You.com