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Franchise Case Studies

Carl's Jr.
CKE Restaurant Inc. ("CKE") is the parent company of some of the nation's most popular quick-service and fast-casual brands including Carl's Jr., Hardee's, Green Burrito and Red Burrito. "Supporting our current and future franchisees to effectively seek financing makes good business sense," said Ned Lyerly, EVP Global Franchise Development. Bernard Karcher Investments Inc. (BKI), founded by Bernard Karcher whose brother Carl founded CKE, was the first franchisee of Carl's Jr. and now owns 25 Carl's Jr. Restaurants. BKI turned to BoeFly to refinance their existing business debt. "... We were approached by more than 20 banks including the bank that eventually funded our loan."

Wild Birds Unlimited
When Jim Carpenter combined his retail experience with his love of nature and backyard birdfeeding 30 years ago to open the first Wild Birds Unlimited store in Indianapolis, he never dreamt that this retail concept would morph into one of the leading specialty retail franchises in North America with 270 stores. Most of Wild Birds' franchisees are new to owning a retail business and Wild Birds seeks to make opening a Wild Birds Unlimited franchise as seamless as possible. However, today even the top franchisors face a significant challenge in accessing capital to enable otherwise qualified franchisees to open new locations. Paul Pickett, Vice President of Franchise Development of Wild Birds Unlimited, recognized this problem and the need to help its potential franchisees obtain financing.

Great Clips
From a single location in 1982, Great Clips is now the world 's largest salon brand with more than 3,000 salons throughout the United States and Canada. They have earned a spot as one of the Top 200 largest franchise systems in the U.S. by worldwide sales, with its stores employing 30,000 hair stylists. Mohammed Azam turned to Great Clips as his first attempt at entrepreneurship. Azam first tried to seek financing on his own but was unsuccessful and discouraged. Anxious for a better outcome, Azam turned to BoeFly, on the recommendation of Great Clips where he completed the easy-to-follow process of building an online bank-ready financing request.

Toppers Pizza
When Brett Larrabee was looking for the next big opportunity after leaving 5 Guys he selected Toppers Pizza for its energetic brand, excellent franchisee economics and long-range potential. As Director of Franchise Development Brett finds the right franchisee candidates, but also ensures candidates have the tools to succeed. "I am really excited about Myron Allen becoming a Toppers franchise owner in Rochester, MN but it's happening in large part because Myron secured start-up financing. Myron used our 'Toppers Loan Center, powered by BoeFly' to build a bank-ready financing request," said Larrabee.

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Success Stories

Cleveland, OH

Amount: $300,000
Use: Expansion
Lender Looks: 8
Lender: First Capital Bank

Flagstaff, AZ

Amount: $300,000
Use: Start-Up
Lender Looks: 6
Lender: Sunrise Bank of Arizona

West Haverstraw, NY

Amount: $450,000
Use: Start-Up
Lender Looks: 11
Lender: Main Street Bank

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Franchise Case Studies

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