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<div id="pastingspan1"><span style="">So you&#8217;ve decided to break into the franchising business. You do your research, find the brand that&#8217;s right for you, meet with the company&#8217;s leadership team and start getting the proper paperwork in order. But there&#8217;s still one major hurdle standing between you and owning a franchise: locking down financing.</span></div><div id="pastingspan1"><span style=""><br /></span></div><div id="pastingspan1"><span style="">Financing is not one size fits all&#8212;what&#8217;s best for one franchisee is not always feasible for another. Often times, financing is the single biggest obstacle prospective franchisees face in the industry. The process can seem overwhelming considering options range from commercial and SBA (U.S. Small Business Administration) loans to tapping into 401(k) accounts through rollovers as business startups, or ROBS.</span></div><div id="pastingspan1"><span style=""><br /></span></div><div id="pastingspan1"><span style="">That&#8217;s where franchisors come in. Each brand has their own unique way of guiding their franchisees through the financing process. Some companies, like <a href="http://christianbrothersfranchise.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=the-two-most-important-words-in-franchising-financing-available-4675" target="_blank" rel="nofollow" target="_blank">Christian Brothers Automotive</a>, are involved with financing from start to finish. </span></div><div id="pastingspan1"><span style=""><br /></span></div><div id="pastingspan1"><span style="">&#8220;Franchisees need help and guidance. A lot of times they&#8217;re first time business owners who have never applied for a commercial loan before. There&#8217;s quite a bit of fear in that process,&#8221; said Josh Wall, Christian Brothers Automotive&#8217;s Vice President of Franchise and Strategic Development. &#8220;At Christian Brothers we get in the game with our franchisees because we want someone involved who has our heartbeat and understands our vision. We help our franchisees overcome their fear by holding their hand and introducing them to our preferred lenders.&#8221;</span></div><div id="pastingspan1"><span style=""><br /></span></div><div id="pastingspan1"><span style=""><a href="http://christianbrothers.1851franchise.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=the-two-most-important-words-in-franchising-financing-available-4675" target="_blank" rel="nofollow" target="_blank">Christian Brothers Automotive</a>, along with other established brands who are on the SBA approved list, provide their prospects with a list of lenders who they have successfully worked with in the past. When banks are familiar with a franchisor&#8217;s business model and trust that it&#8217;s a good investment based on prior experience, they&#8217;re more likely to approve a new loan.</span></div><div id="pastingspan1"><span style=""><br /></span></div><div id="pastingspan1"><span style="">It&#8217;s also key for franchisees to think ahead when it comes to financing. Prospects need to establish a relationship with a lender whether they&#8217;re looking to open their first franchise or are considering taking on more than one unit. Without that connection, a franchise will never be able to expand its business.</span></div><div id="pastingspan1"><span style=""><br /></span></div><div id="pastingspan1"><span style="">&#8220;We encourage our franchisees to think beyond their first salon,&#8221; said Beth Caron, Director of Franchise Development at <a href="http://www.greatclipsfranchise.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=the-two-most-important-words-in-franchising-financing-available-4675" target="_blank" rel="nofollow" target="_blank">Great Clips</a>. &#8220;Great Clips is a multi-unit opportunity, and our goal is to keep moving the business forward. If our franchisees establish relationships with their lenders right away, it helps them grow in the future.&#8221;</span></div><div id="pastingspan1"><span style=""><br /></span></div><div id="pastingspan1"><span style="">Financing doesn&#8217;t need to be left up entirely to the banks&#8212;there are also a number of financial partners that are available to potential franchisees. Companies like <a href="http://www.boefly.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=the-two-most-important-words-in-franchising-financing-available-4675" target="_blank" rel="nofollow" target="_blank">BoeFly</a>&nbsp;help match franchisees with the financial option that is most likely to work out for them. But no matter what information franchisors provide or what lender a franchisee is paired up with, the decision can only be made by one person.</span></div><div id="pastingspan1"><span style=""><br /></span></div><div id="pastingspan1"><span style="">&#8220;Ultimately it comes down to the franchisee,&#8221; said Caron. &#8220;We can offer our recommendations and guidance, but at the end of the day franchisees are more successful when they&#8217;re confident in their financing arrangement.&#8221;</span></div>

1851 Franchise

One of the franchising industry’s biggest obstacles is also one of its most important steps.

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The Two Most Important Words In Franchising: Financing Available

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Minuteman Press International

L-R: Bob Titus (CEO), Eric Shank (Catonsville, MD), Bob Heimbuch (RVP), and Nick Titus (President).

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