Purchasing a franchise business is a easy way to ensure success in business, however, obtaining the funds you need to make the purchase can be tricky. Most of the major banks have criteria’s set up to finance well-established franchises, but little-known franchises or newer players in the franchise landscape may be more difficult to fund.

Are you purchasing a new franchise location or taking over an existing one?

There are many variables involved in setting up a franchise. If the franchise you are purchasing has already been operating, it is advisable to do some research on the location and the premises to ensure there are no surprises. Obtaining key financial information as well as finding out any conditions and fees involved in the transfer is important to consider, as these are the numbers that will tell you whether your venture is viable or not.

Knowledge is power

Working with a Can Finance Group mortgage broker makes a complex transaction less stressful, as we have a great deal of past experience as well as strong relationships to leverage towards your success. We know exactly what lenders are looking for and what constitutes a red flag – so, not only can we help you get the financing you require to purchase your franchise, we can help you understand the ways in which you might be at risk.

Ultimately, the decision to purchase a franchise could be a smart one, but you owe it to yourself to understand all of the facts before diving in. Call to set up an appointment today.