Selecting the appropriate financial partner is critical to the long term success of your company. Having a finance partner that understands your business, one aware of your business challenges and a partner with knowledge of the specific aspects to your franchise system, are all key elements when you make your final decision on how to finance your future.
Here are some of the key points you need to ask before selecting your next Finance Partner:
- Does your finance partner understand your short and long term business needs, which may include remodels, new equipment roll-outs, expansion and acquisition opportunities?
- Has your franchisor introduced new equipment requirements to your system which will need to be installed throughout your entire network?
- Do you have excess asset value currently encumbered, that could be leveraged to help you achieve your growth objectives?
- Is your lender familiar with your specific brand and franchise system?
- Will your lender have the financial products you need to meet your business objectives?
- Has your bank asked you where you want to be in three to five years from now? And, how they can help you get there?