Franchise Funding Made Simple with New eBook from Biz2Credit
Biz2Credit has released All About Franchising, an eBook, which provides tips for researching, purchasing and financing a franchise business.
- New York, NY (1888PressRelease) February 25, 2012 - Content includes: Tips for Buying a Franchise; How to Hire a Franchise Lawyer and Questions to Ask a Franchise Broker by Joel Libava, who is widely known as "The Franchise King." Additionally, the eBook presents case studies of two franchise owners -- Nisha Khanna of Sweet & Sassy, a spa for girls, in Old Bridge, NJ, and Ray Vasquez of Johnny Rockets Sports Lounge in New York City -- who overcame challenges in securing financing and are now running successful businesses.
Biz2Credit created the "All About Franchising" eBook, to help people learn the questions to ask when looking into buying a franchise and how to secure the funding necessary to purchase the business.
"Although the small business lending landscape has improved since the dark days after the fall of Lehman Brothers, it is by no means easy to secure franchise financing. Aspiring franchise owners still encounter challenges in finding capital even when they have good business credit and personal credit histories," said Rohit Arora, CEO of Biz2Credit, which has secured financing for Baskin Robbins, Dunkin Donuts, Johnny Rockets, Liberty Tax, Subway, and other franchises.
"In this eBook, we provide practical advice from Joel Libava, the country's foremost expert on how to research and buy franchises," Arora added. "We also examine the success stories and offer tips on how to get franchise funding."
In 2009, Biz2Credit helped Nisha Khanna to secure $300,000 in funding to open a Sweet & Sassy franchise in Old Bridge, NJ. She had been rejected by a number of banks that she approached for loans during the height of the credit crunch -- even though she already owned a thriving business, had a strong personal credit history and a solid business plan. Biz2Credit connected her with RomAsia Bank to get the funding she needed. She opened in the fall of 2010 and has done a booming business ever since.
Ray Vasquez, owner of the first ever Johnny Rockets Sports Lounge in New York City, tried for many months to secure funding. He did not anticipate being rejected for funding by banks with which he had relationships. Vasquez found a great location on Manhattan's Upper East Side and signed a lease, but coming up with the requisite financing nearly denied him the dream of opening his restaurant/sports bar. Working with Biz2Credit, he was able to find a good deal at an attractive lending rate.
Founded in 2007, Biz2Credit is a leading credit marketplace connecting small- and medium-sized businesses with lenders, service providers, and complimentary business tools. The company matches borrowers to financial institutions based on business' unique profile -- completed in less than four minutes -- in a safe, efficient, price-transparent environment. Biz2Credit's network consists of 1.6 million users, 1,100+ lenders, credit rating agencies such as D&B and Equifax, and small business service providers including CPAs and lawyers. Having secured more than $500 million in funding throughout the U.S., Biz2Credit is widely recognized as the #1 credit resource for small businesses.
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