TWO MEN AND A TRUCK
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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."
Read more here.
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."
Read more here.
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About the Author
Lauren Turner
FollowLauren is the Vice President at No Limit Agency. The Michigan native graduated from Boston University and immediately began her career in public relations.
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