Two principal questions related to franchising confront the new franchisor:1. “How much money will I need?” 2. “Where will I get it?”
As a first step to answering these questions, you must answer two others first:1. “How much cash do I have that can be spared for this program?” 2. “What can I use for collateral should I decide to seek financing?”
Franchising can be a lucrative business, but, as the saying goes, it takes money to make money.
Franchises are developed in phases, and various types of financing may be needed at some, or all of them. Franchising, of course, is a method of expanding a proven concept. To create a business and achieve the kind of success that is the prerequisite for franchising, many entrepreneurs obtain some kind of financing. Francorp understands that and will work closely with you on payment options that work for you. For more detail, speak with a franchise consultant today.