Not Ready for a Franchise?
There are many reasons people feel like a franchise investment is not right for them. The biggest obstacle for most people is not the desire, not their confidence in their ability to be successful, but the actual costs involved in starting a business.
When considering financial options you must remember that purchasing a franchise and starting a business is virtually making an investment in yourself. Instead of having a portfolio manager or the economy determine your yield, investing in yourself gives you much more control of your future and return on investment.
Below are some options that you may want to consider.
- Refinancing or a line of credit on your house with tax deductible interest.
- Insurance Policies often have cash value.
- Borrow from a family member or take on an investor.
- There are companies that can help you leverage your 401K without penalties.
- There are loans available with a minimum credit score of 690.
The best advice is to seek advice from your personal banker or accountant.