Franchisors and franchisees, reeling from the pandemic and the government-issued closures, are grappling to comprehend the “new normal.” Financing, the lifeblood of franchising, has experienced major shifts and it is critical for businesses to understand the market. BoeFly assembled industry experts to share their perspective on the state of franchise lending and tips to thrive in the new normal. Expert … Read More
Review of the SBA Paycheck Protection Program, who is eligible, and how to secure your money from the government!
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 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
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
Franchise lead generation webinar, designed for Franchisors, featuring industry experts on franchise lead generation covering topics such as events/expos, web portals, PR, budgeting, tactics and tracking
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
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
We just wrapped up at the Franchise Times’ 16th Annual Franchise Finance & Growth Conference, which is the premier conference in the franchise lending space. Franchise brands attending the conference had a chance to meet with franchise lenders, such as Cornerstone Bank, Funding Circle, Stearns Bank, and Rapid Advance, as well as investors. We had the opportunity to pitch to … Read More
Since 2007, most of the market has been struggling to recover from a marked economic downturn, but results from a recent International Franchise Association (IFA) study show that franchise financing and the industry as a whole may finally be out of the woods.
- Page 1 of 2