photo credit: @MSG
The fact is that franchise companies still want to grow; and many individuals are still chasing the American Dream. Both groups realize that the lack of available credit is hampering their ability to make this happen. Solutions exist, but they often require some out-of-the-box thinking and aggressive efforts on everyone’s part.
Third party lenders are a new resource for franchises today. Many of them are requiring a guarantee now a days, which is something they normally do not do, but if, that is the only option for them, then so be it.
Savings is another way of funding your franchise. Many business owners are now looking to their retirement money or their general savings account in order to fund their new business.
Direct financing is a rather new approach for franchisors. Many franchisees are now providing direct financing for their new franchisors, which never use to be an option.
What unique ways of funding have you found for your franchise?