You Have Options for Financing Your Franchise
Funding doesn’t have to be a barrier for you to grow your franchise. There are lots of financing options available when you are starting a franchise or improving your system, and the experts at AFI can help you navigate those options.
How Much Does It Cost?
First things first, how much does it cost to grow your franchise? The simple answer is not as much as you would think. Expanding through franchises is almost always less expensive than opening new corporate-owned locations because you can rely on your franchisees – who are motivated by their investment to succeed – to front much of the cost.
That isn’t to say that starting a franchise is cheap, either. To do it right, you will need to invest time and effort in your system , but when all is said and done you can reap the rewards of a growing brand. Add to that the satisfaction that comes from making your franchisees’ entrepreneurial dreams come true, and you can see that there is a lot of value in franchise growth.
Business Plan
If you are looking for funding for your business’s growth, the first thing you should do is come up with a business plan. This is something that you can show prospective investors to demonstrate where their money will go and how it will grow. Writing a good business plan is not only incredibly useful when you are looking for funding, but it can also act as a road map when you are executing your franchise growth.
Don’t go thinking business plans are just for those who are starting a franchise! Even if you are already a franchisor, a business plan can give structure to your plan as you grow your brand and improve your system.
Complete our FREE franchise growth assessment to find out how AFI can help you grow.
Finding Funding
When you’re finding financing options for your franchise growth, there are a lot of places where you can turn. Qualified businesses may be able to fund their growth with one of Accurate Franchising, Inc.’s financing partners, who work with our clients to find the financing options that fit their needs and goals.
In addition, you may go to your existing investors and/or board members to find out if they are interested in investing further in your company. This is a group that has seen your business’ success, so they may be interested in benefiting from a return on their investment as your company continues to grow.
Other financing options may include traditional bank loans or SBA loans, friends and family, crowdfunding, savings, investments, and many more. There is no shortage of ways to fund your business’s expansion, especially when you are working with the pros at AFI to make it happen.
It is time to get started! Get in touch with us to talk with one of our franchise consultants about growing your business.
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