Financing for Franchises

imageDid you know that most financial institutions have franchise financing programs and that typically your best  chance of success and best rate is usually with your current institution. When researching your financing options, start with your local bank that your already hold accounts with. They will be able do give your the best terms and service.  Using other lenders can lead to higher rates and shorter terms unless you use institutions that have franchise specific programs. If your local institution can’t provide you with satisfactory terms, look to the institutions below. We recommend their programs regularly and have great success with our franchise partners using them. They’ll not only help you get the financing you need but also review the franchise business model you are considering and give you advice on them.

TD Canada Trust Franchise Financing

Scotia Bank Franchise Financing


Avoiding franchise remorse...

Much like the picture attached, ask yourself, what makes you feel good. The best feeling in the world, is knowing you made the right decision and having no remorse in it.

At Joey’s Franchise Group, we believe in making our Franchise Partners feel good by ensuring they feel happy about their decision to choose one of our Franchise concepts.

Evidence of support tends to nurture trust and builds group resilience. It is typically sought by people in three primary forms:

• Consistent Leadership Behavior
• Regular Feedback
• Adequate Resources

Without sufficient or appropriate forms of support, individuals and the groups they belong to, tend to fuel their own anxiety and stress. This is counterproductive which in turn hampers trust and performance of all kinds.

In business almost any action we take is dependent on support of others, and approval either before or after the fact. In contrast to criticism and complaint, expressions of approval and support do have long shelf-lives.

Our support system of our Franchise Partners is integral to their and our success. It allows them to feel great about their decision.

Rob Hilditch, VP of Business Development
Joey’s Franchise Group – Great Canadian Franchises


Why you need a partner...a franchise partner.

partnership-low-res

The statistics are overwhelming. Couples live longer than
single people. One study reported that the mortality rate for
single men aged between 30 and 59 is two and a half times higher
than those who are married. Though some of the theories point to
quality of life and earning potential, the most compelling reason
is deeper than that. As social animals, we function better and cope
with stress more easily when we’re in a trusting relationship.

After a hard day, for example, there is someone at home to talk to
– to air your thoughts. Whether running errands, keeping the
household going or raising a family, on so many levels, the best
marriages are like a partnership. And in business…the best
partner- ships are like a marriage. We often spend more time with
people at work than we do with our own families, so some of the
same dynamics should exist at work as at home. Many entrepreneurs
say of their companies, “it’s like a family,” it’s only fitting
then that the family should have two parents. We all know the
increased stress and pressure that single-parent households face.

Whether a formal relationship or not, the best business partners
also have strong emotional bonds. This is the person with whom you
can close the door and share doubt and expose your vulnerability.
This is the person with whom you can bounce ideas and figure out
the best way to “raise the kids.” But more than anything, partners
keep each other going. Being an entrepreneur can be a lonely
affair.

Unlike working in a company, the person at the top doesn’t
have peers. Whether a formal equity partnership, a senior employee
or a right-hand-man or woman, a franchisor-franchisee, every
entrepreneur needs a partner…a business husband or wife. Every
entrepreneur needs someone they trust and who trusts them. And if
for no other reason, having a partner you love working with will
just help you live longer.