Franchise financing for first-time franchisees
Some potential franchise financing sources include the following:
- Personal savings and investments
- Borrowing from friends and family members
- Taking out a small business loan from a local bank or credit union
- Obtaining a second mortgage on your home
- Working with outside investors or investment capital firms
- Obtaining a loan from the U.S. Small Business Administration (SBA)
- Obtaining a loan from Canada Small Business Financing (CSBF
You must come up with the money to be in business!
The statistical truth is that the single most common reason new franchisees (and for that matter, all other types of new businesses) fail is that they did not have enough money going into the investment.
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