Building a strong foundation for your franchise starts with having the right resources in place. Financing can be a helpful tool to manage upfront costs and maintain financial flexibility. With proper funding you'll be well-positioned to launch confidently and work toward your long-term goals.
If you're looking for franchise funding options, there are several sources to consider. The right choice depends on your financial goals, timeline, and comfort level with borrowing. To help you understand what’s available and determine which option best supports your path forward, here are a few funding sources to explore:
The SBA offers loans specifically for franchisees, which can cover up to 85% of the total project cost. These loans typically have lower interest rates and longer repayment terms compared to other types of loans.
Traditional banks also offer franchise loans, which may require collateral and have strict eligibility criteria. However, they may offer more flexibility and customization options.
Franchisees who own a home may use the equity to obtain a line of credit, which can be used to fund their franchise. HELOCs may have lower interest rates than other types of loans, but the risk of losing one's home is high if payments are not made on time.
Franchisees can use their retirement funds to invest in their business through a ROBS arrangement. This option can provide quick access to funding without incurring penalties or taxes, but it involves complex legal and financial considerations.
There are many non-bank lenders and online platforms that offer franchise financing, such as equipment financing, working capital loans, and lines of credit. These options may have higher interest rates and fees but may be easier to qualify for and offer faster funding.
Franchisees can also try crowdfunding platforms to raise capital from a large number of individuals who support their business idea. However, crowdfunding campaigns require a strong marketing strategy and may not always succeed in raising enough funds.
At Mobility Plus, we understand that securing funding is an important step in your journey. That's why we work with you to find financing options that fit your unique needs and goals. Our team of experts is here to guide you through the process and help you choose the path that supports your long-term success. Let us help you take the first step towards achieving your dreams of owning a franchise business!
Due to the High Demand for a Mobility Plus franchise we have implemented a process beneficial to both parties
We have a limited amount of territories available and an overwhelming interest
We are transparent about our process and seek franchisees who have a passion for helping others while building a rewarding business to grow and reward themselves
