The idea of owning your own company can be exciting, but starting a company from scratch can be daunting. New businesses have a variety of challenges, but you don’t have to start from scratch. Instead of starting a business from the ground up, you can invest in a franchise. Franchising has many of the same benefits as owning an independent company, but you can receive more support and advantages from having a well-established brand.
How does franchising work?
In franchising, there are two main parties. There is the franchise owner, an entrepreneur interested in owning a franchise location, and there is the corporate brand, the company that allows the entrepreneur to own and operate one of the branch locations. The franchise owner partners with the corporate brand to open a business under the brand’s name. They operate in the location using the corporation’s name, logo, products, services, and other assets.
Investing in a franchise location isn’t free. The franchisee typically has to go through an application process and also secure funding. This can be the difficult part. Funding for a franchise can vary from tens of thousands of dollars to hundreds of thousands of dollars, and most people do not have that on hand.
There are many ways to fund a franchise opportunity, including traditional loans or lines of credit, but at Aspen Commercial Lending, we have franchise financing. Our franchise financing option provides your business with low rates, 25-year terms, and working capital to start with. We are also available for first-time business owners.
If you’ve always wanted to own your own business but never knew where to start, investing in a franchise may be the best option for you. Franchising gives you the benefit of having your own business without having to start from the ground up, but funding for a franchise can be expensive. At Aspen Commercial Lending, we have dozens of different financing options, and we are sure we can find one to fit your goals.