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Franchise Finance Considerations
March 05 , 2010

Franchise Finance Considerations 
In the current environment the reality is that it may be difficult to obtain financing for the franchise of your choice.  Many factors will come into play:

1. Your financial strength.  Your credit score and payment history.  How leveraged you are on your home, autos, credit cards. 

2. The financial strength of the franchise you are considering.  How long they have been in business.  Their track record with lenders.  (Lenders have this information at their fingertips).  Have there been delinquencies and defaults.  The reality is that some franchise systems absolutely are untouchable at this point in time.

3. Be realistic about the down payment and the cash you need to put into the deal.  Get a deal done with 10% down?  Forget it! 

4. Be sure you have ample working capital.  Remember, this is a start-up.  Even a great franchise concept needs customers.  You don’t have any right now.

5. Not all finance offers are alike.  Don’t restrict your analysis just to interest rate.  Consider term, collateral and other covenants.  Consult with financial experts.  Get the deal set up properly, with a fudge factor for some unforeseen circumstances, then charge hard into opening and operating the business.

 

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