First Steps to Prepare to Finance Your Business
We are pleased to share this link to the 1st video of a 3 part video series. In this video, we cover the following 3 main areas to begin to secure financing for your new franchise business:
1. Update you resume. The most important task is to highlight your industry specific experience and education, if any. Then promote your portable skills which include management, marketing, sales and finance.
2. Pull the credit reports for all partners with over 20% ownership. I recommend Experian since that service is used the most by lenders. The goal is for everyone to have a 700+ score. Your alternative is to reduce any given owner within your team with credit scores under 700 to <20% ownership.
3. Review FDD from the franchise(s) of your choice. This document will give you a $ range of costs associated with opening any given franchise.
The remaining videos in our series will review how to complete your Personal Financial Statement (video #2) and how to create your sources and uses of funds form (video #3) to plan your project costs. For more information, please contact Paul Bosley by emailing firstname.lastname@example.org or visit www.businessfinancedepot.com.
Wrong Platform? - Don’t Let Your Franchise Miss the Train!
Online platforms, most specifically social media and how their management also affects your franchise’s reputation. If you misuse or just miss a platform, it could put your online reputation in jeopardy.
Clever Marketing With Your Internal Customers
One of the hardest concepts to get across to business owners is that your employees and staff are also your customers. You can do all the clever marketing in the world.
4 Tips For Starting A Home Improvement Business
Home improvement has proven to be a steady business over the years. There is always some demand for home improvement businesses. But how do you start a home improvement business.