1851

These days, the best&mdash;and most successful&mdash;brands need to ensure that their prospective franchisees have the right net worth, liquidity, credit score and more before moving on to the next stage of business ownership.

&nbsp;

That&rsquo;s why verifying assets&mdash;which is the act of confirming that the applicant has the assets they report&mdash;is more important than ever before to reduce unnecessary risks for a brand. These risks can include the franchisee failing to open their unit; a franchisee opening but having too little working capital to succeed; or, a franchisee becoming a future litigant over having been subjected to the preceding risks.

&nbsp;

But, despite the obvious perils, nearly 74 percent of franchise executives report that they do not verify assets.

&nbsp;

&quot;I&#39;m surprised that given the obvious risks, that so few franchise brands skip the asset verification step,&quot; said Jeff Panella CFE, Vice President of Business Development, with Wireless Zone. &nbsp;&quot;We have a diligent process to verify the assets, and I don&#39;t know how an applicant would have confidence to join a brand that doesn&#39;t verify assets.&quot;

&nbsp;

Brands looking to increase their franchise growth can turn to <a href="http://www.boefly.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=boefly-offers-best-in-class-brands-the-resources-needed-to-confidently-outsource-critical-asset-verification-of-franchisees-5955" target="_blank" rel="nofollow" target="_blank">BoeFly&rsquo;s</a> Franchise Sales &amp; Financing System, which now includes an asset verification and background check service. This gives brands the peace of mind they need, while being able to outsource such an important&mdash;but technically challenging&mdash;task. This process has an added benefit for franchisees, too. Verified franchisees can more reliably secure the small business financing they may require. When lenders engage with new franchisees whose assets have already been verified as part of the development process with the brand, the lender can race to proposal and funding. And as many tenured brand executives know, franchisee liquidity and net worth are just as important to the lender as they are to the franchisor.&nbsp;

&nbsp;

&quot;We enhanced our Sales &amp; Financing System to respond to the needs of our franchise clients who were squandering their valuable sales resources to chase documents, or worse, brands that were all together shirking this important, but time consuming, responsibility,&quot; said Mike Rozman,&nbsp;BoeFly&#39;s CEO.

&nbsp;

According to Tom Spadea, an attorney with Spadea Lignana, a firm specializing in franchise law, asset verification is a critical step for franchises&mdash;especially one like BoeFly&rsquo;s, which has the added benefit of being outsourced.&nbsp;

&nbsp;

&quot;A franchisor should be just as diligent in their due diligence on their franchisee candidates as they ask the candidates to be on their system.&nbsp;Trusting but not verifying is a black and white exposure point for a franchisor that is hard to defend and impossible to solve on the backend,&rdquo; Spadea said.&nbsp;&ldquo;We always recommend to our franchisor clients that they need to &lsquo;trust AND verify&rsquo; the financial position and backgrounds of their candidates.&nbsp;It is an often overlooked step that creates unnecessary risk for a system in the rush of trying to do a deal.&nbsp;An outsourced solution is ideal, creating a solid paper trail and mitigating the risk that the wrong person will get into the system.&quot;

&nbsp;

Boston&rsquo;s Pizza is one of many leading franchise brands that have realized the importance of asset verification first hand. Boston&rsquo;s Pizza relies on BoeFly to verify the assets of new franchise applicants as part of their new development process. In doing so, they&rsquo;re ensuring that potential franchisees meet the brand&rsquo;s liquid asset and net worth requirements.

&nbsp;

&ldquo;Establishing an asset verification procedure with BoeFly has proved to be a crucial and invaluable step in helping us not only confirm the financial viability of potential franchisees, but also gain the comfort and confidence we seen to move forward with a new partnership,&rdquo; said Rick Lauro, the Vice President of Finance at Boston&rsquo;s Pizza.

BoeFly Offers Best in Class Brands the Resources Needed to Confidently Outsource Critical Asset Verification of Franchisees

1851 Franchise

Brands looking to increase their franchise growth can turn to BoeFly's Franchise Sales & Financing System, which now includes an asset verification and background check service. 

This brand page has been paid for by 1851. Content within this page that is paid will showcase a Sponsored icon. This means the brand has engaged 1851 FRANCHISE to write the content. Content without the Sponsored Icon is aggregated media placements the brand earned. Questions can be sent to editorial@1851franchise.com

boefly-offers-best-in-class-brands-the-resources-needed-to-confidently-outsource-critical-asset-verification-of-franchisees

Sola Salons

Sola Salons Targets Chicago for Strategic Franchise Growth

sola-salons-targets-chicago-for-strategic-franchise-growth

Melting Pot

Photo of Melting Pot white chocolate fondue

How Melting Pot Franchisees Drive Year-Round Success Through Strategic Promotions and Local Marketing

melting-pot-franchise-year-round-success

Crust Pizza Co.

Crust Pizza Co. - Technology Piece - CTO Nick Fontenot - May 2025 - 1851 Franchise

Crust Pizza Co. Builds the Future of Franchising With Tech-First Strategy

crust-pizza-co-technology-nick-fontenot-cto

Paris Baguette

Paris Baguette’s Recipe for Expansion: Leadership, Community and A Vision for 1,000 Cafés by 2030

paris-baguettes-recipe-for-expansion-leadership-community-and-a-vision-for-1000-cafes-by-2030

Seniors Helping Seniors®

Franchisee Spotlight with Billy and Anita Clark and Seniors Helping Seniors

Heart and Purpose: Couple Launch Seniors Helping Seniors® Franchise in Northern Arizona

heart-and-purpose-couple-launch-seniors-helping-seniors-franchise-in-northern-arizona

Buying a Franchise Masterclass

 Franchise Opportunities

Get Support Buying a Franchise

How to Buy a Franchise White Paper

How to Buy a Franchise

How to Sell Franchises

How to Grow a Franchise

Find a Franchise Supplier

1851 Franchise Opportunities

Franchisor News

Franchisor Power Rankings

FranCamp Mastermind Summit

Franchise Resources

What ALEC-Laffer's Report Means for Franchising

Website Awards

Power Rankings

About 1851

Advertise on 1851

Contact 1851 Editorial

Terms of Use

1851 Login

GROWTH CLUB LOGIN

facebook

instagram

twitter

linkedin

youtube

DoorDash Expansion Could Reshape Delivery and Operations for Franchise Brands - 1851 Franchise

DoorDash Expansion Could Reshape Delivery and Operations for Franchise Brands

doordash-acquistions-deliveroo-sevenrooms

Crumbl Franchise Investment - TSG Consumer Partners -  1851 Franchise

TSG Consumer Partners Takes Minority Stake in Crumbl, Signaling Franchise Growth Potential

crumbl-franchise-investment-tsg-consumer

Yum Brands Reports Strong Q1 Results with Big Boost from Taco Bell

yum-brands-reports-strong-q1-results-with-big-boost-from-taco-bell

QSR: McDonald’s Gains Momentum With Chicken Innovation, Value Deals and Franchisee Support

mcdonalds-franchise-recovery-chicken-strategy-value-deals-2025

The Future of Franchising: Trends and Predictions for 2025 and Beyond

the-future-of-franchising-trends-and-predictions-for-2025-and-beyond

District Taco Franchise Costs, Fees, Profit and Data for 2025

franchise-deep-dive-district-tacos-franchise-costs-fees-profit-and-data

HTeaO Franchise Costs, Fees, Profit and Data for 2025

franchise-deep-dive-hteaos-franchise-costs-fees-profit-and-data

DonutNV Franchise Costs, Fees, Profit and Data for 2025

franchise-deep-dive-donutnv-franchise-costs-fees-profit-and-data

Photo of Happinest Brands vans and teams standing together

Happinest Brands Closes Strong Q1 With Strategic Growth, System-Wide Enhancements

happinest-brands-q1-2025-growth

Franchisee spotlight image with Randy and Sandy Craft, Children's Lighthouse logo on blue background

The Crafts’ Successful Journey from New Parents to Children’s Lighthouse Franchisees

the-crafts-successful-journey-from-new-parents-to-childrens-lighthouse-franchisees

Layoffs Surge to Pandemic-Era Highs, Opening Doors for Franchise Growth

layoffs-surge-to-pandemic-era-highs-opening-doors-for-franchise-growth

Franchisee spotlight image with photo of Robert Trujillo and UWRG logo on blue background

How Robert Trujillo Expanded His Construction Business With UWRG

how-robert-trujillo-expanded-his-construction-business-with-uwrg

The Ultimate Guide to Selling Franchises: Building Your Brand’s Growth Machine

ultimate-guide-to-selling-franchises

BoeFly Offers Best in Class Brands the Resources Needed to Confidently Outsource Critical Asset Verification of Franchisees

MORE STORIES LIKE THIS