Are you looking to start a franchise but need to figure out how to fund it? If so, keep reading for several tips that will help you secure franchise financing.

Ask the Franchisor

Perhaps the most direct way to obtain franchise financing is by asking the franchisor if they provide it. In fact, listed this as one of the best sources of funding for new franchises. Some franchisors provide capital directly, while others work closely with chosen lenders to facilitate funding. Franchisors usually won’t fund 100 percent of the venture, but they often provide a large portion of the needed money.

Ask a Specialist

Franchise funding specialists are experts on helping franchisees obtain the money they need to get off the ground. These professionals have connections with various lenders and can be an invaluable source of advice.

Ask Your Network

Your network can also serve as a resource for obtaining franchise financing. Joining business organizations and attending local events are two of the many ways to expand and tap into your network. At all times, you should have a pitch ready for investors so that you’re ready to entice them.

Look into Government Sources of Funding

Depending on your background and circumstances, the government may provide or facilitate franchise financing. For instance, The Wall Street Journal points to SBA-backed loans as a potential option for franchisees.

Be Persistent

A harsh truth is that you may be rejected during your early attempts to secure franchise financing. However, keep in mind that most entrepreneurs face rejection at some point or another. Try to view rejection as a learning experience rather than the end of the road. This way, you’ll approach your next attempt with more knowledge and a higher chance of success.

No matter your line of business, Nations Capital Financing’s other blog posts contain lots of helpful information. Give them a look if you’d like to keep learning.