Funding Your Franchise: Using a Pre-Qualification Tool

Funding Your Franchise: Using a Pre-Qualification Tool

One of our recent articles provided Examples of Real Veteran Franchise Deals from companies who want to help veterans succeed in business by offering various discounts and special offers to buy into their franchising operations. Those kinds of deals certainly help take the edge off of making a big investment, but you still have to come up with a substantial amount of capital when funding your franchise. That’s why Veteran Franchise Centers is excited to announce we have forged a new partnership with the business funding experts at Benetrends Financial.

Tools for Funding Your Franchise

Benetrends has been in the business of helping entrepreneurs realize their dreams of starting and running their own businesses for more than 30 years. And they don’t just help you out with initial funding – they stand by you for as long as you need them. at VFC we see that kind of commitment to your success as the basic foundation for considering a partnership. “When it comes to offering a range of innovative services to help entrepreneurs secure the funding they need, nobody does it better than Benetrends,” said David Omholt, CFE, a Dallas-based franchise expert and the CEO of The Entrepreneur Authority and Veteran Franchise Centers. “We don’t form partnerships with just anyone, and Benetrends not only meets but exceeds our rigorous standards.”

Funding Your Franchise: What Can You Afford?

One of the most important steps in the funding process, and one that is often also the biggest question for entrepreneurs, is trying to accurately estimate what you can afford for a franchise. Our partnership with Benetrends includes a robust pre-qualification tool that will help you narrow your search for the perfect franchise opportunity by identifying the various financing options for which you’d be likely to qualify.

This process just makes good business sense when you think about it. After all, in the same way that shopping for a new home is unwise if you haven’t been pre-qualified for a mortgage to know how much house you can afford, you should also get pre-qualified for funding when shopping for a business opportunity.

It’s also important to realize how much time pre-qualification saves. There are literally hundreds of options when it comes to buying a franchise. A good portion of them will turn out to be well beyond your means. When you know in advance what you have to work with, your search will be much more efficient.

Please note that this type of pre-qualification tool is not the same as an actual loan commitment. It is an early determination of what amount and options you could qualify for based on your unique situation. But as an easy and free litmus test for what you can afford, it’s invaluable.

At Veteran Franchise Centers we are constantly on the lookout for tips, tools and strategies that will give you an edge in finding the best opportunities, including funding your franchise. We provide free guidance to veterans and military families wanting to explore the franchise world in a safe and no-pressure environment. You can read about what some of the veterans we’ve worked with have to say about their experience with VFC on our Veteran Stories page.

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