As the Multi-Unit Franchise Conference kicks off today in Las Vegas, I’m excited to spend the next couple of days talking to Franchisors and Franchisees about their most pressing financial and business issues. In my opinion, there’s no more important business sector than franchisees—and multi-unit operators are at the heart of that industry.
America was founded on small business enterprise. Those same principles of past generations are still present in today’s franchisees. And like the business owners of yesteryear, many present-day franchisees are veterans or immigrants – on the front lines of small business every single day.
This is why I love helping franchisees. How many people know that franchisees make up 900,000 establishments and over 11 million jobs across the nation? I don’t think that as a country, we pay enough attention or give enough credit to franchisees’ contribution to society.
Franchisees will tell you that they have the same challenges—things like cash flow, day-to-day operations, staffing—and opportunities as other small businesses. But, there are also situations unique to franchisees. Very often they incur significant, unplanned and unexpected expenses that come along with corporate upgrades, like adding new menu boards. This calls for fast access to working capital and very often requires a small business loan.
When opportunities arise, usually in the form of the chance to buy additional units, the operator must act quickly or lose out. Again, he or she needs a sizeable amount of capital almost immediately. More traditional sources of financing typically are unable to meet the timeline, and often, the operator may not qualify for funding. This is why our industry is exploding.
Like other small businesses, franchise operators need capital for upgrades, expansion, purchasing new equipment, new technology and buying inventory. That’s where we come in as a provider of short-term business loans as well as merchant cash advances. Although our industry is known as “alternative financing,” what we offer is fast becoming the standard.
Businesses, franchise operators included, are coming to rely on and trust us more and more. BFS Capital funds 150 to 200 business owners every month. To me, that’s impressive. We’re helping merchants who are out there working their small businesses every day.
We make it a point to work with small business owners. At the end of the day, sometimes you need to borrow money to make money. My ultimate goal is to help franchisees grow their business.
A simple application will get you started, and you won’t need to spend the next several weeks gathering documentation, your business plan, etc. Once you’re approved, you can have funds in hand in as little as two business days.
As a former business owner, I understand what business owners are going through day after day. I’ve lived it and have been in the same trenches. So I tell franchisees to call me directly, day or night. I pick up my phone 24/7—well, almost…
When you call me, I make sure I understand exactly what it is that you are trying to do. Then, we’ll discuss your best options for your cash flow and growth needs. At BFS Capital, we want what’s best for you and for your business.
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