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    4 Replies Latest reply on Jul 29, 2009 6:57 PM by phanio

    How do I secure financing for small business franchise.

    Harolds_chk48 Newbie
      We are hoping to complete the task of opening a franchise originally from Chicago in the city of Las Vegas due to the large relocated population of chicagoians and midwesteners living here.
        • Re: How do I secure financing for small business franchise.
          LUCKIEST Guide
          financing for small business franchise, Welcome Carl

          No matter how good the business system is, the business must be one that "fits" you. It must be a business that builds on YOUR strengths and talents.

          Achieving your dream: It is good to understand your options and determine what is best for you.

          The three basic options are:
          1. Start a business from scratch
          2. Buy an existing business
          3. Purchase a franchise

          I have just joined a group of Franchise Consultants. The company specializes in helping people learn about many of the possible investment choices that exist in today's market.

          The services are free to you the prospective buyer. For more info, email me at " pdeig@juno.com " and please include your phone number.

          Thanks, LUCKIEST
          1 of 1 people found this helpful
            • Re: How do I secure financing for small business franchise.
              marta369 Newbie
              Hi Carl

              My nameis Cesar, and i've been asking the same question so long and no one is able to give an answer. You've been given 3 basic options below, 1. I'm triying to start the franchise business from scratch, I have the Business Plan, I have already set-up the coorporation, I have 25% of the amount needed as requested by most banks plus the initial franchise fee but I still cant get a loan much less a grant.
              I think that you should go to the nearest SCORE department to get advise.
              1 of 1 people found this helpful
                • Re: How do I secure financing for small business franchise.
                  phanio Pioneer
                  You are right - grants are probably out of the question unless you are a non-profit or are in a low income, rural community providing needed community services.

                  If you have the 25% down or equity - what are you being told? Why will your bank or an SBA lending bank not work with you? Is your credit bad? Do you not have cash flow (income) to service the debt? What are they telling you? Find the reason they are saying no - then work on those issues.

                  Lastly, can you not start on a small scale - as you start you are starting this from the ground up. You can start small with the 25% you have - then leverage that into cash flow that can help you grow your business.

                  Business Money Today
                  www.BusinessMoneyToday.com
              • Re: How do I secure financing for small business franchise.
                phanio Pioneer
                Have you talked to the franchisor? Many of these either offer financing or can point you in the right direction. Other options are your standard options - banks, sba loans or private lenders.

                How much are you seeking?

                Business Money Today
                www.BusinessMoneyToday.com
                1 of 1 people found this helpful