Pete is joined by Nick Lopez, the owner of Lime Painting, on this podcast episode. They discuss how Nick went from a college student to franchisor, when he will write his next book, the future of Lime Painting, and how painting services are always in demand

For those interested in investing in a franchise, now is a great time. There is no greater proof than the recent volatility in the stock market. Many portfolios are way down and it will take some time to recover. Investing in a business provides more stability and often a higher and more consistent return with less capital.

A business is like a tree. You plant it and let it grow. Everyone who planted a tree a few years ago isn't feeling this pandemic as hard as those who rent their income from a corporation. 

Pete sits down with Eric Schechterman, the Chief Development Officer at Benetrends Financial to talk about how his company helps franchisees fund their locations.

Allison Zorich from Guidant Financial joins Pete and Nat on the podcast today to discuss the changes to funding franchises in 2021. 

People are often surprised to find franchising is a diverse industry. There are a ton of options out there for aspiring franchisees. We encounter franchises all the time, but we often think of them as them roadside businesses sprinkled across the nation. 

There are many ways to fund a franchise. Using cash is the easiest and most straightforward option, but if you have no other liquidity, that is a bad move. Burdening yourself with an unneeded or incorrectly structured loan can also wreak havoc on your business plan.

By Pete Gilfillan

The leap from investigating a franchise to buying one requires a reality check from any potential investor. Franchise loans are out there, but getting selected as a franchisee has different requirements. Funding is important, but it isn't the only step to financing your first location. There are three main components that will determine if you are financially solvent and solid enough to buy into the franchise you choose: your net worth, your liquid capital, and your credit history.

With your business plan in hand, it’s time to tap all your available resources to find the best available financing at the lowest cost to you. As you enter this phase of capitalization, keep in mind that there are lenders, accountants and attorneys who specialize in franchise financing. In some cases, they represent your best chance of a smooth, successful financing experience.