YOUR COMPANY IS LOOKING FOR BUSINESS FINANCE SOLUTIONS!
You've arrived at the right address! Welcome to 7 Park Avenue Financial
Financing & Cash flow are the biggest issues facing business today
ARE YOU UNAWARE OR DISSATISFIED WITH YOUR CURRENT BUSINESS FINANCING OPTIONS?
CONTACT:
7 Park Avenue Financial
South Sheridan Executive Centre
2910 South Sheridan Way
Suite 301
Oakville, Ontario
L6J 7J8
Direct Line = 416 319 5769
Email = sprokop@7parkavenuefinancial.com
Franchise Financing in Canada is a key part of the total solution that the entrepreneur needs to put in place when considering the purchase of a new franchise or an existing unit in the small business / SME sector in Canada - it's the engine of the economy! How do you get approved for that financing and who offers these loans? Let’s dig in.
Proper franchise financing, coupled with a solid franchise opportunity helps franchise owners assure financial and personal goals will be attained.
When we meet with business owners to discuss their Canadian franchise financing needs they often reveal they have contemplated purchasing their own business for quite some time but that financing was an obstacle. We firmly believe that financing should not be an obstacle to success.
The hard reality of franchise financing is actually very simple - that is that if you have a reasonable personal investment into the business ( we'll discuss' reasonable' later ), and a decent work and credit history that are some great options for franchise financing in Canada.
NEED ASSISTANCE IN NAVIGATING THE FRANCHISE FINANCE MAZE?
Many new entrepreneurs are industry or work-focused, and they don’t consider themselves ' financial types '! That simply emphasizes the point that you should be working with a trusted, credible, and experienced franchise financing advisor who can both guide you through the best solution, and in fact get you the capital that you need. It should not be any mystery that a combination of a strong proposal and application geared towards the type of financing you need almost guarantees total success.
IMPORTANCE OF A BUSINESS PLAN
If you don’t have a business plan or financial projection for your business you must realize you absolutely need that document. 9 out of 10 of our customers don’t have that plan or recognize the importance of it. In that case, we work with the customer and prepare the plan based on input from you on your projected revenues, profits, expenses, etc. In our experience at 7 Park Avenue Financial a winning business plan is geared towards financing and not marketing and advertising.
We do get a little concerned when many new budding entrepreneurs come to us with no industry experience in the business they wish to purchase or enter into. That generally speaking is viewed as a negative, it does not mean you won't are financed, it simply means it’s a negative point that has to be taken into consideration.
Our experience in franchise financing with Canadian entrepreneurs is that a careful well thought our business plan, cash flow forecast, business summary give you a 95% chance of financing success.
In Canada our firm uses a three-pronged strategy to finance franchises - we utilize the CSBF program, working capital term loans, lease financing, and oh yes, the 4th piece of the puzzle - your own investment.
We had referenced previously that your personal investment must be reasonable, there is no absolute number that can be tabled here - simply that an owner equity investment of 10 to 30, perhaps more percent investment usually carries the approval. We can’t overemphasize that each franchise financing differs with client needs re amount, structure, types of assets being financed, etc.
CONCLUSION
Franchising in Canada is one of the most popular methods of business expansion in Canada, giving entrepreneurs the ability to start, own and grow a business. Both traditional and alternative sources of capital allow the franchisee to leverage their personal investment to acquire and grow a business in the franchise industry.
So, our final bottom line - Be prepared, consider seeking out and speaking to a trusted, credible and experienced Canadian business financing advisor. Have credible info and demonstrate you know your business. Soon you will be on the way to franchising success!
Click here for the business finance track record of 7 Park Avenue Financial
Stan Prokop 7 Park Avenue Financial/Copyright/2020
