Golf Franchise Funding – Where To Go?

There are plenty of different ways to fund a franchise start-up. The most common are business loans, private investors, or your personal funds. There is no cookie-cutter way to get franchise funding, it is all done based on your unique situation.

Trying to get a bank loan is what people usually do first. One advantage of using borrowed money is that you get to retain more of your personal resources. Keep in mind, you will have debt service (loan) payments that you'll have to make every month. Be sure to include that additional bill to pay as you prepare your business plan.

Another great source for funding is investors. The big advantage here is that you usually don't have a mandatory re-payment program like a bank. The investors are hoping that the business is wildly successful and they will reap the benefits with a higher rate of return than other investments vehicles like a bank CD or a treasury bond. Possible investors are family members, business associates, or your ‘rich uncle’. And, they make ask for ‘a piece of the pie’ as in the form of business ownership equity.

The third source is your personal funds like savings, stocks, bonds, home equity, and other assets you can turn into accessible cash. The big advantage to using these types of funds is that you don't have debt service payments. Just like an investor, you are hoping to get a higher return on your money with a franchise business that you will own, control, and work very hard on making it a success.

Carefully evaluate all your options and you may include consulting with a financial advisor who knows your personal situation. In many cases, your funding sources may be a combination of the ones mentioned above..

About MyLoopCard

MyLoopCard is a golf marketing franchise company. Founded in 2007 and started franchising in 2009, MyLoopCard offers a unique way for local businesses to advertise their business with a customized 16-page golf scorecard. MyLoopCard seeks franchise owners that want to be active in their local community, and desire a flexible and family-friendly lifestyle.

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