Best Options for Funding Business Franchises
After countless hours of weighing the options and consulting with family, friends and trusted colleagues, you've finally decided that you're ready to pursue an exciting new chapter in your life. The question you may be asking now is, "How do I fund my Colaz Franchise?"
The UK economic situation today is a challenge. However, money is available and you can achieve the financial stability and long-term success that a business like CoLaz offers, provided you are well prepared.
There are many ways to acquire funding for a business franchise. It's best to choose the appropriate financing based on your specific business plans and goals.
Funding for your CoLaz Franchise will likely be easier to access than for an organization or brand that has less experience in the business marketplace. That's because we have a proven track record of success in the beauty industry, and already have an established business plan for you to follow.
Before pursuing your financing, refer to your business plan for how much capital you'll need. Thorough planning is critical. Some important factors to consider include:
- Business Rent
- Employee Salary
- Equipment and Supply Fees
- Initial Stocking Fees
There are many ways that you can secure funding. Below are three of the most common for you to consider:
Money is available and institutions are lending. Make sure your credit score is clean. Consider a Small Business Loan (SBL). SBLs can provide lower monthly terms than traditional institutional loans.
Drawing funds from a retirement or alternative investment account can be tricky. But if you’ve built a solid business plan and calculated the costs, this can be a risk worth taking to ensure the capital you need.
Consider approaching investors in your community to back your small business endeavor. Private investors will be more likely to trust a proven business model like Colaz.
While each of the three methods above can help you to successfully fund your franchise, CoLaz recommends that you also consider Corporate and Medical Finance (CMF). CMF is an asset finance company that specializes in short-term borrowing – making it possible for business franchises to finance their new investment without incurring the debt that’s inherent in private lending or bank loans.
The working capital for our four CoLaz salons was secured through CMF, giving us the ability to quickly grow our business without worrying about when interest payments would be due.
It’s important to remember that franchise funding for CoLaz is highly accessible. CoLaz is a proven market brand that many investors already know and trust, and we provide our franchisees with the assets and resources that prospective lenders want to see.
By leveraging CoLaz's success, you can confidently pursue and attain the capital you need to quickly make your Beauty Salon Franchise dream a reality. CoLaz puts the needs of our prospective franchisees first by providing the assets and recommendations essential to successfully pursue franchise funding.