(The rich uncle)
It’s not exactly easy to get a franchise loan these days. It’s not impossible, thanks to businesses like this one…but it’s not as easy as it used to be thanks to 2008 market collapse.
- You want to be you’re own boss
- You have the talent
- You’ve started to learn about business
- You have the right personality for franchise ownership
- You have some money
- You have your family’s support-well mostly
- You’re looking at good franchise opportunities
- You’re young
And, it’s that last one that’s the problem. You probably won’t qualify for a traditional small business loan-you just don’t have the net worth needed yet. Or, the business experience.
So, what can you do?
This Is How To Get A Franchise Loan From Your Rich Uncle
You have a rich uncle. (Your Uncle Mort is really, really rich.) He’s a small business owner, himself. (Which is why he has the money to loan you in the first place.)
You’ve had some interesting discussions with him in the past. You’re actually pretty tight. Tight enough for him to tell you that he’d be open to lending you some money if you ever found the right business. That’s pretty cool. So, you decide to take good old Uncle Mort up on his offer. This could get interesting.
You pay Uncle Mort a visit one warm summer day, and share your ideas on buying a franchise. Now, you haven’t actually chosen a specific franchise yet, but you have a few in mind.
As an added bonus, you’re very skilled in sales. So, you sell him on your idea…your plan to buy a franchise.
Uncle Mort says yes. He’ll loan you the money you need. Rich uncles are great!
Uncle Mort didn’t get to be rich by rolling over and saying yes all the time. He’s made careful, calculated decisions over the years, and this is just another one of them.
In order for you to get the money, he wants you to do the following:
- Come up with at least 3 franchise choices
- Learn how to do the proper franchise research
- Bring him a thorough business plan
- Put some of your own money in
I have an important question for you:
Are you willing to do whatever it takes to become your own boss?
If so, it looks to me like Uncle Mort wants you to prove it to him. If not, you need to go out and get a job instead.
I Can Help
If you’re ready to do what your rich uncle wants you to do-in order to get some of his money, I can help.
- Signup for my free introductory online course on franchising, so you can learn about the franchise business model, and how to leverage it to make money.
- Keep your eye on the latest franchise news-and start watching the trends taking place in business.
- Buy this software.
- Read this article twice, and bookmark it, so you can refer back to it again and again. It includes a lot of franchise research tips.
- Schedule a one-hour call with me before you approach your Uncle with the information you gathered. Just to make sure you haven’t missed something.
You Can Do This
You can get a franchise loan from your uncle, as long as you do what’s suggested, and you want it bad enough.
I know it.
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The 10 Commandments of Franchise Research
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