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I attended a webinar a few weeks ago called “Best Practices in Buying and Selling a Business with a Focus on Financing.” It explored the availability of transactional financing to buy or sell a small business. BoeFly.com, an online matchmaking site that pairs borrowers with lenders presented the webinar. Mike Rozman, BoeFly’s co-president moderated the panel with expertise in buying and selling small businesses, financing, appraising and brokering existing franchises.
To start the event, Rozman introduced Beth Solomon, vice president of the International Franchise Association. “The IFA and BoeFly have a strategic alliance in which we’re working together to offer tools and solutions, good advice, counsel, information that our members can use to advance in franchising, especially on the financing side,” she said.
Tasti D-Lite CEO Jim Amos: It’s Time for Small Businesses to Stand Up and Demand Attention from Government
Regulation and new laws are choking businesses, which must speak out.
Businesses have had a tough time since the economic meltdown of 2008. We have been hit from so many different directions simultaneously and rapidly that we have focused on simple survival.
Washington needs to take steps to help small businesses grow the economy.
In the meantime, in response to the economic crisis, the federal government has imposed a raft of new regulations and laws on business owners that, however well-meaning, have served to further strangle small business investment and add red tape to the process of running a business.
Benetrends is proud to announce the expansion of their business-financing firm with the opening of a new office in Coronado, California. As one of the nation’s leading providers of small business financing, Benetrends (http://www.benetrends.com) was founded in San Diego and is currently successfully based in North Wales, Pennsylvania. This cross-country growth represents a return to the company’s west coast roots and further establishes the firm’s nationwide coverage.
Steve Calderia, President of the International Franchise Association, says: “Now is the time to beat the crowd back into the market by buying a business, especially in the franchise industry, which has weathered the recession better than most industries and shows greater promise moving forward than many other categories.”
Entrepreneur Rob Israel believes he has found a winning recipe.
The founder of Doc Popcorn, which sells fresh-popped snacks in flavors such as “sinfully cinnamon” and “hoppin’ jalapeno,” has supervised the opening of 54 franchise outlets in five years and says he is working with another 200 in development.
Mr. Israel would like to credit his product’s popularity for the steady growth. But he also attributes his success to a flexible franchise system that allows local entrepreneurs to buy into the brand at a level that fits their budget.
With financing still hard to secure, some brands explore nontraditional lending
Jane Butler, Executive Vice President of the National Association of Government Guaranteed Lenders, and Bill Hall, Dairy Queen franchisee and IFA Credit Access Task Force Chairman, offered the ins and outs of how to get a loan in “Becoming Credit Ready” – the first in a series of webinars to enable franchises to get the financing they need.
When last we left the chairman and chief executive of Starbucks, in mid-August, he had written a widely publicized e-mail lamenting the poisonous state of our nation’s politics, according to an article by the New York Times. That led him to his first big idea: a call for a boycott of political contributions until Democrats and Republicans began to act in a nonpartisan way for the good of the country.
GE Capital’s Franchise Finance completed a $13.9 million transaction with Wings Across America LLC, a Buffalo Wild Wings franchisee. The funding includes a new unit development line of credit amounting to $4,500,000 and a refinance term loan of $9,400,00., according to (below source). Wings Across America LLC’s president John Weiler struck the deal with GE Capital projecting growth in the network’s 18 units.
When franchisees Brad and Risa May first began to explore the financing options available to them for their Goddard School franchise, they assumed they would be leasing their building. Instead, they were delighted to find out they could finance and build their own facilities using long-term, fixed rate financing through the U.S. Small Business Administration’s 504 Loan Program.