6 Ways to Secure a Business Loan for Your Franchise

1. 6 Ways to Secure a Business Loan for Your Franchise Opening a franchise comes with upfront and ongoing costs, including initial fees, royalties, and other operational expenses. Discover six ways to secure a business loan, including SBA 7(a) loans, SBA 504 loans, franchisor financing assistance, crowdfunding, and traditional loans. Learn how each option can help you cover startup costs and build a successful franchise. Opening a franchise allows you to operate a business with a proven model, an established brand that resonates with consumers, and receive support from the franchisor to help you succeed. However, the infrastructure and support do not come free as opening and operating a franchise requires paying the franchisor several fees (some are up-front and some are ongoing). For example, an initial fee, royalty fees, advertising & marketing fees, technology fees, etc. The initial fee, start-up costs, and ongoing costs can be quite substantial depending on the franchise and most will require getting a business loan. Let’s explore six ways to get a business loan for opening a franchise. Source url: - https://www.biz2credit.com/term-loan/ways-get-business-loan-opening-franchise