Funding access is one of the most important aspects of opening any business, and potential franchisees looking into a franchise system are no exception. More and more franchisees are highlighting the real importance of franchisors sharing brand information with potential funding sources. Maintaining transparent information sharing with banks can help to boost brand awareness and support funding to incoming franchise partners of the brand.
To assist with this important process, a space where multiple brands can present their franchise system to various potential lenders is certainly of practical value and can make a difference for franchise companies looking to augment funding support. Next month on February 5, such a space is available through the Franchise Lending Spotlight Conference taking place in Houston, Texas.
As a regionally focused event, with aims to visit various parts of the U.S. into the future, the conference is the fourth of its kind put together to cultivate lender awareness of franchise brand systems to boost lending support. Attending banks and franchisors participate in presentations and information gathering sessions, with banks acquiring post conference access to Boefly’s online system for continued franchise research.
The importance of lending for business operators cannot be emphasized enough. Opportunities such as this put franchisors and lenders in the same place at the same time to increase healthy business interactions that support sustainable development. Aside from an event such as this, franchisor plans to approach banks and thus directly increase brand awareness in lending communities may also bolster funding access for new franchisees.
Potential franchisees do well to consider how prospective franchise systems are reaching out to lenders and what their plans are for connecting incoming franchisees with viable funds. Franchise systems differ on policies associated with funding, whether making funds available in-house or externally sourced, and franchisees must consider what funding options are available to them. Thus potential franchisees researching brands must consider how accessible funding is and what this means for their business operation plans.