Raising Capital for additional franchise locations

searcher profile

November 21, 2022

by a searcher from Brigham Young University in Highland, UT, USA

I recently opened 6 salon locations in Utah (2) and North Carolina (4). They are picking up and doing well. I want to open additional locations, but I am out of money. I am looking into SBA financing for a "Flagship" location in North Carolina, but I do not think SBA would be ideal for the smaller locations we open.

I think private debt would be the best route for us to take as we try to expand to new locations. Do you have experience raising private debt? Where should I start?

Thanks!

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commentor profile
Reply by a searcher
from Dominican University in Tampa, FL, USA
Hi Riggs. Have you tried to qualify those locations with a lender? SBA Express loans may be an option. One lender I'm working with to finance my first franchise purchase is https://franchiselenders.com/ and they won't charge you to qualify what you're thinking of. Good luck! And congrats on those 6 locations.
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Reply by an intermediary
from University of Kansas in Kansas City, MO, USA
Yes. Live Oak Bank is a good place to start. I know Brian Hunt in their Dallas office. If that doesn't pan out, I might be able to help you as we do assist clients in raising debt financing. Thanks, John McGannon, Frontier Investment Banking
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