When embarking on a new franchising journey, one of the most crucial steps is securing funding for your new business. For Woodhouse Spas franchisees, this can be a concern given the brand’s luxury status and elevated build-outs. In addition to careful cost management by the franchisor, ensuring owners can build their spas in the most cost-efficient way without sacrificing the guest experience, franchisees also have access to preferred lending partners. These partners understand the franchise model, meaning the application process can be streamlined and franchisees can access competitive terms tailored specifically for Woodhouse owners.
“If a bank does their homework, they understand the franchise, the industry and the economics,” said Gabe Beukinga, head of commercial lending at First Women’s Bank. “It becomes a very ‘check the box’ process there. You’re not starting from scratch; you’re starting at the 20-yard line.”
Woodhouse’s preferred partners streamline the process for franchisees, making each stage as approachable as possible.
The lending process typically follows these steps:
Woodhouse’s lending partners offer several advantages specific to franchisees with the brand, supporting franchisees throughout the entire process.
Due to an established relationship and trust in the strength of the brand, preferred lenders will often offer better pricing, making the borrowing process more affordable.
“We certainly give preferred pricing in terms of interest rate any time we have a preferred relationship set up with a brand,” Beukinga said.
With preferred lenders, loan closing costs are typically lower, too. Decreasing closing costs by just a few percentage points can make a notable difference on large business loans, saving franchisees money..
While the cost savings associated with working with a preferred lender are a major motivator for many franchisees, these relationships can also extend beyond the initial funding process, allowing franchisees access to a trusted partner throughout their business journeys.
“I consider myself a partner,” said R.C. Heaton, commercial relationship manager at ApplePie Capital. “It’s a relationship, not just a transaction.”
Unique lending products, like ApplePie Capital’s “Recap and Grow” program, can support franchisee expansion by helping them leverage equity in current locations to scale.
“With Recap and Grow, we take their trailing 12-month profit, and we can lend four and a half times that amount,” Heaton said. “We’re getting them money out based on the performance of their existing unit or units.”
The start of the funding process and these longer-lasting relationships is an initial conversation. Lenders will meet with franchisees to learn more about them and their goals.
“The first thing I like to do is get to know the candidate and learn what they’re looking to do, what their goals are and what’s important to them so we can tailor the financing to what they’re looking to get,” Heaton said.
Once the foundation is laid, franchisees will work directly with the lending team to navigate the entire process, overcoming any hurdles and finding the best option for their unique situation.
With the right lending partner, franchisees can secure the funding needed to launch their Woodhouse — with favorable terms — while establishing a financial relationship that can support them for years to come.
To find out more information on costs to buy this franchise, please visit https://1851franchise.com/woodhouse-spas.
Woodhouse Spas
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From pre-underwriting support to competitive terms and long-term relationships, Woodhouse’s trusted lenders simplify and strengthen the financing process for new franchisees.
When embarking on a new franchising journey, one of the most crucial steps is securing funding for your new business. For Woodhouse Spas franchisees, this can be a concern given the brand’s luxury status and elevated build-outs. In addition to careful cost management by the franchisor, ensuring owners can build their spas in the most cost-efficient way without sacrificing the guest experience, franchisees also have access to preferred lending partners. These partners understand the franchise model, meaning the application process can be streamlined and franchisees can access competitive terms tailored specifically for Woodhouse owners.
“If a bank does their homework, they understand the franchise, the industry and the economics,” said Gabe Beukinga, head of commercial lending at First Women’s Bank. “It becomes a very ‘check the box’ process there. You’re not starting from scratch; you’re starting at the 20-yard line.”
Woodhouse’s preferred partners streamline the process for franchisees, making each stage as approachable as possible.
The lending process typically follows these steps:
Woodhouse’s lending partners offer several advantages specific to franchisees with the brand, supporting franchisees throughout the entire process.
Due to an established relationship and trust in the strength of the brand, preferred lenders will often offer better pricing, making the borrowing process more affordable.
“We certainly give preferred pricing in terms of interest rate any time we have a preferred relationship set up with a brand,” Beukinga said.
With preferred lenders, loan closing costs are typically lower, too. Decreasing closing costs by just a few percentage points can make a notable difference on large business loans, saving franchisees money..
While the cost savings associated with working with a preferred lender are a major motivator for many franchisees, these relationships can also extend beyond the initial funding process, allowing franchisees access to a trusted partner throughout their business journeys.
“I consider myself a partner,” said R.C. Heaton, commercial relationship manager at ApplePie Capital. “It’s a relationship, not just a transaction.”
Unique lending products, like ApplePie Capital’s “Recap and Grow” program, can support franchisee expansion by helping them leverage equity in current locations to scale.
“With Recap and Grow, we take their trailing 12-month profit, and we can lend four and a half times that amount,” Heaton said. “We’re getting them money out based on the performance of their existing unit or units.”
The start of the funding process and these longer-lasting relationships is an initial conversation. Lenders will meet with franchisees to learn more about them and their goals.
“The first thing I like to do is get to know the candidate and learn what they’re looking to do, what their goals are and what’s important to them so we can tailor the financing to what they’re looking to get,” Heaton said.
Once the foundation is laid, franchisees will work directly with the lending team to navigate the entire process, overcoming any hurdles and finding the best option for their unique situation.
With the right lending partner, franchisees can secure the funding needed to launch their Woodhouse — with favorable terms — while establishing a financial relationship that can support them for years to come.
To find out more information on costs to buy this franchise, please visit https://1851franchise.com/woodhouse-spas.
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