Many emotions arise when deciding if you want to buy a franchise business. You can feel excitement, fear, curiosity, and so much more. The one major question that comes up is how you will finance your franchise. Owning your own business can be a daunting financial commitment at first.
As the home service industry's leading supporter of franchise ownership, we want to make your transition into a franchise business as seamless as possible. Below, we've provided possible paths you can take to finance your business through secure and industry-established routes.
Financing Options to Help You Take the
Seeking Loans from Conventional Lenders
One of the most common ways to finance your franchise venture is to obtain a loan from a commercial lender. Banks usually offer loans for franchise businesses because they are more reliable than startup companies. In order to receive a loan from the bank, you will need to have good credit and show them a loan package that includes a personal financial statement, copies of personal tax returns from the last three years, and a verified source of money for the down payment.
Banks often are more likely to lend money for franchise businesses with a recognized brand name and a report of stable cash flow.
At Dwyer, our franchises are nationally known, with multiple running locations.