Are You, the Entrepreneur, Thinking about Buying a Small Business in 2014?
Don’t overlook the multitude of opportunities that abound in the Franchise world. Everyone is looking for the next McDonald’s, Dunkin’ Donuts or 7-11—the one opportunity that with a reasonable investment and lots of hard work, will provide you with a secure career path. But it may not be as easy as it sounds.
The results of Entrepreneur’s 35th annual Franchise 500 confirms that while the trend towards franchising continues to rebound in 2014 with some household names such as Dunkin’ Donuts, Pizza Hut, Denny’s, Hampton Hotels and Subway leading the list among the Top 10 Franchises in 2014, the investment required to “turn the key in the door” may run into the hundreds of thousands, if not millions of dollars, an amount that could indeed be a significant barrier to entry for even the most seasoned investor.
If you’re like most people, you will need to get a Franchise loan to help you pay for the business and secure adequate funds for such items as working capital and inventory.
But Where Does the Start-Up Turn to For This Much Needed Capital?
Since the tightening of business credit starting in 2008, many business owners and franchisors, with start-ups have been particularly hit hard. Franchises and Business Owners have now had to look to alternative sources of financing.
Looking For Help Finding Franchise Financing?