How to Finance a Franchise Restaurant?
February 21st, 2019 by Advance Point Capital
Consider this: “Your restaurant was doing well. One day, you find some furnishing going on in the hallway close-by. A few days later, to your dismay, you find that a new food-hut has cropped up.”
Now, what should you do?
Take a franchise of a leading restaurant brand!
There are Countless Advantages of Owning a Restaurant Franchise.
Let’s look at a few of them:
The key advantage is that you’ll get instant brand recognition as your customer may already know it and you will not have to gain their trust from scratch.
You can quickly get loans from lenders. The franchisor will provide the equipment, skills, and supplies.
The franchisor will train you before the start, so you can deliver a great experience to your existing as well as new customers.
Ready to Go
A franchise is more or less ready-to-go business. You will get the design of interiors, menu, and marketing, etc. so the time to market is minimal.
The franchisor will cover all the risks, and if there are any issues, they will support and guide you as they have a brand reputation to manage.
But you need to make the high initial investment, as almost every branded restaurant franchise will call for significant investment to start with. The franchisor will ask for upfront payments for kitchen equipment, design, royalties’, etc.
So How Can You Arrange The Finances?
A loan from a bank may strike you as the first option. However, from a bank’s perspective, a loan to a small business is ‘high risk’ which makes them averse to lending. It is where financing from alternative lender can help.
Get Business Loan to Finance Your Franchise Restaurant
The fastest route to business loan is via alternative lenders like us. You can get a loan from USD 10,000-500,000 with an attractive term of up to three years or 36 months. You can repay the loan with a fixed payment schedule. The funds are deducted automatically from the Business Bank account. You can get the loan even if the bank has turned you down. You will not have to:
- Provide the tax returns
- Fill lengthy forms
- Wait for days to get the approval
- Will not have to provide any collateral (Remember, if you apply for a loan from a bank, you will have to provide the collateral as banks will want to secure the loan against it.)
- There is no need to provide any document which shows the profitability of your restaurant
What Are The Main Advantages?
High Approval Rate
It is highly desirable by every small business seeking funds. No one wants to waste time making multiple applications with different lenders.
No Upfront Fees
You don’t have to pay any fees for the approval. However, once the loan is disbursed, there may be some fees for providing the service.
No Worries about Credit Type
Another significant benefit of getting finance through alternative lenders is that you will not need a high credit rating. Any small business can get a loan.
You can get the approval within 24-hours of making the application. On the other hand, loan-approval from bank comes after a few days.
Again when you are making an application for a loan with an alternative lender, it will not go beyond a page and you can discuss it as well.
Fulfill Your Dream With Loan from AdvancePoint Capital Now!
- Make a loan application here
- Provide the documents
- Get Funded within 24-hours
Call @ 1-800-381-8920 for a Free Quote!