Financing a franchise

[Shift]

Hello all! I am in the knowledge gathering process of purchasing a franchise and I need some insight. I'm looking into a vending distributorship that deals solely with natural and organic foods. Some of you may know the company I am referring to, but I am just curious as to how difficult it would be for a college student ,20 y/o, to obtain financing for such a venture. The initial investment is around 50k( this includes 5 machines, training, free delivery of product, blah blah). Does anyone think that with a rock solid business plan and a market that I would be able to get financing?

[924934]

That company should offer financing or direct you to a good source. Did you ask them if they do?

I do know that business opportunity financing is not going very well right now due to the current economic conditions.

Good luck.

[InsomnicBrain]

I recently got franchise financing 5 months ago. They ask for 15% down and some type of collateral.

[Shift]

I kind of guessed that it would be somewhat difficult. Damn mortgage brokers ruining everything for us.

Insomnic whats your age? I'm only 20 and still in school.

[businessgeek123]

ServiceMaster is a really good one and its not very expensive to start. Just putting it out there.

[Shift]

Can't say that I'm interested in the servicemaster thing. I'm pretty much stuck on the one I have in mind.

[ashleyg]

Hello Shift, were you able to get financing already?

Any business start-up with no proven track record yet may find it very difficult to get financing through banks or lending institutions. You can try going to your family and friends first and borrow from them. The repayment schedule is sometimes easier to manage and on much better terms.

[FranOption]

if you got a 401k I can help you but just 100% financing is not going to happen now days. but there are some other options to get money

[FranOption]

here go to this link this will help you

BeneTrends - ACTION!

[vidhiparekh84]

Thankyou guys that was very informative!