You’re ready to grow your franchise. But what about funding for new buildings, fixtures, equipment and everything else you need to expand?
Even though the economy’s better than it has been in recent years, it can still be tough to get a bank loan, especially with more rigorous lending restrictions in place. And even if you do manage to secure a loan with reasonable terms (and in a reasonable time frame), there’s often a hefty down payment requirement that can negatively affect cash flow and business agility.
Until relatively recently, many franchise owners just had to put up with these limitations, which not only hurt their businesses, but also the businesses of their franchisors. But in response, franchisors are increasingly taking matters into their own hands by partnering with carefully vetted financing companies to offer creative, affordable and industry-specific financing options to franchise owners.
Burger King Corporation offers a great example. By partnering with LEAF, Burger King gives its franchise owners access to fast, easy, flexible financing at great rates and terms designed around their businesses.
Rather than being forced to wade through a complicated, lengthy and invasive loan application process, Burger King franchise owners now have an option that gets them equipped quickly, with fewer hoops to jump through and less impact on cash.
Whether they’re adding a single piece of equipment, upgrading to a Next Generation Kitchen, or tackling a complete remodel, the financing process often takes just a few days, with minimal paperwork and frustration. And rates are competitive, too.
All of this adds up to an equipment financing method that’s not only convenient and affordable, but one that soon becomes an integral part of a franchise owner’s cash management and business development strategy, as it has for these Burger King franchise owners:
Equipment: walk-in freezer/refrigerator
“LEAF Commercial Capital was there when we needed a finance company for our last remodel. The process with LEAF was quick and easy and we got the project funded in less than five days. With both excellent service and competitive rates, LEAF will be a company we use for future projects and highly recommend.” – Mike Peterson, CFO, P3 Foods LLC
Equipment: SICOM POS
“Working with LEAF was a very easy process. The customer service was excellent and the rates were very competitive; I could not ask for anything more. I am already in the process of working on another remodel and plan to utilize LEAF for future projects as well.” – Paul D. Kessler, Pdk King of Royal Oak LLC
Equipment: furniture, kitchen, signage, general construction, software, POS, security and training
“I am a small franchisee and the massive paperwork sometimes with some lenders can be very difficult to execute and often becomes a distraction. But with LEAF, the process was very simplified and the rates were better than many lenders out there. Your support during the construction process was a first-class experience.” – Gbemi Oyekenu, Sago Hospitality
If you’re looking to expand your franchise, no matter what your industry, be sure to check with your franchisor to see if it has partnered with a financing company staffed with pros who know your business. This increasingly popular option may be just what you need to take your franchise to the next level.
If you need franchise financing but your franchisor doesn’t yet partner with a preferred financing company, get in touch with LEAF! Our friendly and knowledgeable Account Champions work directly with franchise owners across dozens of industries and we’ll be happy to help you explore your options.