Get Pre-qualified for a Franchise Loan

 

When smart house hunters look for a new home, a lender prequalifies them. This provides a guideline concerning how much the family can pay for a house. It also impresses sellers to know the prospective buyer is qualified before accepting an offer.

A prospective franchise owner can go through a similar process. In the same way you prequalify to buy a house, you can prequalify for a business you want to own. You don’t even need to know the exact business you want.

I can refer you to expert franchise financial planners who will work with you in an effort to furnish guidance concerning the amount you can reasonably afford to invest. The financing specialist will review your down payment, type of business, overall investment needed and your credit score. The pre-qualification is done in such a way as not to affect your credit score by treating your pre-qualification as a request for credit. 

While working through this process won’t give you full loan approval, you will have a very good idea of the types of franchises you should be exploring. The franchisors will be impressed when you have already taken this step.

Call me at 208-772-5755 to talk about franchise ideas and how I can help get you prequalified.

Finding Silver Linings in Dark Times as Franchisee

Last year was not an easy one for Gary and Jeanne Bracken. Jeanne was battling breast cancer, while Gary lost his job as a corporate communications director. However, the duo was determined to make a difficult situation work for them. So, they decided to look into franchising, as a way to support their family as entrepreneurs. They found the perfect fit with CertaPro Painters, and named their governing corporation Silver Linings of Parmadise. Here's what the Brackens have learned about sticking it out as entrepreneurs through the good times and the bad.

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Women-Run Businesses Make More Money — Or Do They?

U.S. Businesses run by men are 3.5 times more likely to cross the $1 million threshold then businesses run by women, a 2014 study (PDF) by Ernst & Young concluded. And women owned business have only a 2 percent chance of ever hitting the $1 million mark, concluded the same study.

 

So it’s interesting to hear a contrarian view.

 

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