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Entrepreneur: Five Ways to Finance a Franchise
Entrepreneur: Five Ways to Finance a Franchise

TWO MEN AND A TRUCK franchisees Nick Roerig and Gordon Shaffer give insights into their financing.

Nick Roerig and Gordon Shaffer were friends working at a TWO MEN AND A TRUCK in Columbus, Ohio, when they decided that they wanted to become franchisees. They each saved $50,000 to put toward their own location, but they were eying an existing territory that cost more than $500,000.
 
The business partners decided to apply for a SBA loan, with the process taking four months. They chose to get another SBA loan for their second location, but through a different bank, which only took one month. They financed their four additional locations through the seller, which was "way easier."
 
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