67 Getting Properly Funded: The Key to Franchise Success: Turning Your Dream into Reality Through Smart Financing

Getting Properly Funded: The Key to Franchise Success

Turning Your Dream into Reality Through Smart Financing

 

Speaking at The Great American Franchise Expo, banking expert Van Conners, Principal of Conners Financial, shared key insights on how proper funding is crucial for franchise success. Hosted by The Entreprenudist Podcast's Randolph Love III, Conners explained why having enough capital from day one prevents the #1 killer of franchises - being distracted by financial fears instead of focusing on business growth.

Conners encourages aspiring franchise owners to find funding that fits their specific business model and goals. With customized financing, franchisees can solely concentrate on their new venture instead of worrying about paying bills. According to Conners, “If you have the ability to solely focus on the business, your bills are paid, everything else, you’ve got that game plan in place, you will be successful."

Rather than hastily accepting the first loan offer, Conners advises speaking to multiple lenders to find the best terms. The right financing partner will understand both the franchise model and geographic market to provide a loan that enables success. An uncomfortable, cookie-cutter bank loan can crucify a business, while a customized "sweet spot" loan leads to growth and strong lender relationships.

With over 150 lending sources, Conners rejects notions that money is tight. "Money ain’t tight," he affirms, citing innovative funding options like equipment leasing/purchasing and accounts receivable financing. His key message - "Let the loan fit the business, not the business fit the loan.” The best funding empowers franchisees to solely focus on operations, preventing failure.

Conners welcomes any aspiring business owner to call him and discuss how to turn their dream into reality. With proper planning and an expert funding advisor, success awaits. As Conners says, “The secret to getting ahead is just getting started.”

 

About The Host…

Randolph Love III, is the Founder and President of, ShieldWolf Strongholds, a Fractional CFO company that specializes in providing Business and Franchise Owners with all of the perks and benefits of having a full time Chief Financial Officer and Business Succession Planner, but for a fraction of the price.  He is a Partner and Consultant with The Franchise Consulting Company; the largest American owned franchise consulting company in the world. He is the Author of the forthcoming Financial Literacy book, "The Miracle Money Vehicle: How To Make Money Make Babies;" which gives individuals and business owners a step by step guide on what they need to do to have the option to retire, or exit their current position in less than 5-10 years, with properly structured, and funded Trusts and Tax Strategies.  Also, he is the host of, "The Entreprenudist Podcast: The Place To Hear Real Entrepreneurs and Business Owners BARE IT ALL;" ranked in the TOP 10% of podcasts for Business Owners and Entrepreneurs by ListenNotes.com.