Veteran Franchise Coaching

Vetrepreneur Franchise Workshop   |   Oct 6

Franchise Workshop   |   Oct 6

Vetrepreneur Franchise Coaching Beta
MY PROGRESS
Funding 60%

Step 6 - Funding

At this point, you have a general idea of how you’re going to finance your franchise along with the specific financial requirements for your selected franchise.  Now it’s time to talk to the financial service providers to custom fit a funding solution to fit your needs.  Just like buying a home, it’s important to understand early what you can afford, the optimal financing formula and a pre-approval.  Doing so arms you with the ability to take advantage of the right opportunity when you find it so you don’t lose your territory.  Keep in mind that it usually takes a minimum of a couple of weeks to get approved for any financing and up to 8 weeks or even longer for SBA loans so it’s important that you get this step started as soon as you have an idea of the type of franchise you’ll be pursuing.

Another part of this step is setting up your LLC or corporation.  You won’t put the franchise in your own name.  You’ll form an LLC or a corporation and that entity will purchase the franchise.  You’ll also need to file to obtain an Employer Identification Number (EIN).  Between now and franchise award is the time to do this.  Forming an LLC and obtaining an EIN is a simple process that your accountant or lawyer can do or you can do on your own.  If you’d like referrals to professionals to do this for you, your coach can assist.

What You’ll Gain

Required Tasks to Complete

You can go through your own sources or your Coach can connect you to franchise funding experts who can customize a financing solution for you.

Start with watching the video above about funding your franchise. Selecting the additional tabs above will provide additional information and resources in funding opportunities.

Use your Franchise Organizer to keep track of your options and what they can do for you by using the “Step 6” tab along the bottom.

Another part of this step is setting up your LLC or corporation.  You won’t put the franchise in your own name.  You’ll form an LLC or a corporation and that entity will purchase the franchise.  You’ll also need to file to obtain an Employer Identification Number (EIN).  Between now and franchise award is the time to do this.  Forming an LLC and obtaining an EIN is a simple process that your accountant or lawyer can do or you can do on your own.  If you’d like referrals to professionals to do this for you, your Coach can assist.

Chris Hale Vetrepreneur Franchise Coach

Franchise Coach:
Chris Hale

Chris Hale Vetrepreneur Franchise Coach

Franchise Coach:
Chris Hale

Use the notes area to keep track of your potential financing options.

When you are finished taking notes on a funding option, click the save button and the note will be saved below the form. You will then be able to start a new note.

* For the best experience when taking notes, we recommend doing so while you are on a laptop or desktop computer.

The Franchise Disclosure Document (FDD) provides a tremendous amount of depth and due diligence about the business you’re considering buying. The FDD is federally-mandated by the Federal Trade Commission (FTC). It’s for your awareness and protection.