Investing in a franchise is a great way for individuals to start their own business with the guidance and support of a bigger brand. A franchise is usually a model that has been successful and has a better chance of thriving as compared to a new idea which may not take off.
Starting a franchise is ideal for individuals who want minimum financial risks in their venture. A franchisee relies on the brand name and a proven process for success. As a result, there is great potential for profit.
Franchise business loans are often considered lower risk, and as a result have very attractive terms and conditions since they are typically attached to a major brand name. In this case, a lender reviews a franchise loan application based on the business model, financial stability and the past success of the parent company rather than only focusing on the credit history and past performance of the applicant.
Getting a Franchise Loan with Priority Lending
A Franchise Loan provides easy access to franchise grants but there are still many factors that the business owners need to consider. Every business has a different operating model, therefore the policies regulating their franchise will be different. Also, the start-up cost of each brand differs. It is, therefore imperative to do a lot of groundwork before deciding on one parent company and going in for a franchise loan.
If you want a franchise loan, we can help you with our large network of franchise financing partners in Canada. We will help you with the paperwork, explain the terms and benefits of every option available for your business. Your Priority Lending Financial Advisor will do all the hard work for you and ensure that you get the funds as quickly as possible.