SBDCs Are A Great Free Resource To Help You Start Your Franchise Business

SBDCs, also known as Small Business Development Centers, provide free educational services/resources for current and aspiring franchise business owners, nationwide.

As a matter of fact, there’s probably a Center near you.
 

SBDC Facts

Small Business Development Centers (SBDCs) are hosted by local universities and state economic development agencies. They’re funded in part through a partnership with the U.S. Small Business Administration (SBA). As of now, there are almost 1,000 SBDCs.

From SBA.gov:
“SBDCs provide services through professional business advisors such as: development of business plans; manufacturing assistance; financial packaging and lending assistance; exporting and importing support; disaster recovery assistance; procurement and contracting aid; market research services; aid to 8(a) firms in all stages; and healthcare information.”
 

SBDCs: Small Business Development Centers

If you’re thinking of buying a franchise, your local SBDC can help you with two crucial things.

1.  Business plan development

2. Financial packaging/lending assistance

Most of the people I work with plan on getting a small business loan for their franchise business.

But to increase their chances of getting their loan approved they need to  include a powerful business plan with their loan application. But, here’s the thing.

Only around 20% of my franchise clients knew about SBDC’s before they worked with me. As far as I’m concerned that number needs to be 100%. Let me show you why.
 

Why Use An SBDC?

SBDC’s…depending on their size, usually have several highly-qualified counselors on staff.

Not only are their counselors highly-qualified, they tend to be great connectors. In other words, they know a lot of people. In fact, they may even know the types of people that can help you do things like secure a small business loan. People like bankers. I’m talking about bankers who specialize in small business loans. SBA-backed loans.

Furthermore, a good SBDC counselor can help you put together a business plan and help you structure…or package, a loan application. Correctly.

In addition to lenders, SBDC counselors tend to know other professionals who support and serve small businesses, including franchise businesses. Professionals like business/franchise attorney’s, accountants and vendors.

FYI: Not all SBDC’s are created equal.

Specifically, some SBDCs are better than others. And some counselors are better than others.

That said, it’s not a slam on Small Business Development Centers, as all of them are good.
 

SBDCs Near You

Enter your zip code here to see where your closest SBDC is.

Then, schedule a free consultation with a counselor. See where it goes.

SBDC’s have been serving future and current small business owners for a long, long time.

Their services are free, and they’re very pro-small business. Your local office can be a great free resource for your potential new franchise business.

Pay a visit to your local SBDC.  See if you can get some assistance with your potential franchise business startup.

And here’s to your success!