Coronavirus (COVID-19) Capital Access Relief Options

Mike RozmanFranchise Finance, Press Releases

Your bank has unilateral authority to provide temporary relief in the form of a deferment. With unilateral authority your bank can act without SBA approval. Banks can defer your loan for up to three or six months. [A max deferment of three months if the bank has sold the guaranteed portion of your loan; a maximum of six months if the bank has retained the loan.]

The Path of an SBA Rule Change

Mike RozmanFranchise Finance

The franchisor and franchisee sign a two-page form that lives as an addendum to the franchise agreement. The form confirms that the franchisor doesn’t exert undue control on four areas: change of ownership, forced sale of assets, covenants and franchisee hiring. The new addendum specifically states that it (the addendum itself) overrides any conflicts that may exist with the franchise agreement

Franchisors Limit Risks with BoeFly’s Asset Verification

Emma GrubmanFranchise Finance

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Opening a franchise, like any business venture, comes with a handful of risks—especially on the end of the franchisor. Franchisees could fail to open their unit, have too little working capital to be profitable and successful, or even become future litigants, having been subjected to the aforementioned.  One way that franchisors can minimize these risks is by verifying assets, or … Read More

What the Fed’s Interest Rate Hike Means for Financing

Jessica SarterFranchise Finance

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For the first time in almost a decade, the Fed has raised interest rates. What does this mean for franchising? Mike Rozman, President and CEO of BoeFly shared his thoughts today since franchisees and franchisors alike have raised their hands. “The economy is healthy and that’s good news for growth,” said Rozman. Coming out of the recession the Fed’s interest … Read More

Webinar – Increase Candidate to Franchisee conversion rates by 14 times

Jessica SarterFranchise Finance, Small Business Lending

In this recording of a webinar from 12/2/2015, two of the nation’s fastest growing franchise brands – Jamba Juice and Papa Murphy’s Take ‘N’ Bake Pizza – share insights on how they grow faster using BoeFly’s Franchise Sales & Financing System. Give a read to a 2-page case study describing how Papa Murphy’s enjoyed a 14 times higher lead-to-franchise sale … Read More

The Secret to Growing Great Clips

Mike RozmanFranchise Finance

Ray Barton, Chairman, Great Clips

Imagine you are the franchisor of a relatively small upstart franchise brand and you are on stage at your very first franchisee convention. You look out at your franchisees and see a system that has 150 units and is adding about ten per year. How would you feel about announcing that your brand will reach 3000 units in the next … Read More

Role of Mentors in the Franchise Industry

Jessica SarterFranchise Finance

Judges Panel - XXX, Shelly Sun, and David Barr

By: Mike Rozman Conferences are a fixture in the franchise industry. Beyond meeting with clients, new and future, I’m looking for new perspectives to help my business, BoeFly, and those businesses we serve. I just attended Springboard, a conference designed by Lane Fisher and Brad Fishman to help emerging brands (a fancy term for startups) plot their franchise growth course. … Read More

How to Decide What Franchise to Open

Mike RozmanFranchise Finance

Franchises are a great way to minimize the risk involved in starting a small business. They allow entrepreneurs to sell a product that has instant recognition, as well as a business model already set in place. The following are some important steps to take before beginning a franchise business.   Evaluate Yourself Why do you want to own a business? … Read More