Can I open a franchise with little or no money?
People who desire to acquire a franchise often refrain from buying not just by fear or lack of certain skills, but by money shortage. However, there are some ways to get money to start a business.
- Help from franchisor. Some franchisors offer financial assistance, they can cover some expenses and figure out a payment plan.
- Bank loans. It is the most common option. Banks are inclined to loan funding for a franchise because it is a well-known and reliable establishment. They could provide good credit.
- Attracting an investor. An investor could be an individual, state or venture fund.
- SBA loan. The Small Business Administration provides government-guaranteed loans. SBA secures the loans given by banks.
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