Franchise Profits W/ Your First Franchise
Ewell Smith is the host of Franchise Profits Podcast interviewing franchisors and franchise leaders to guide you along your entrepreneurial journey to business ownership.
Our expert guests share their insights on their brands from the franchise model itself to the start up costs to the revenue streams, support and more.
Ewell is also the Author of Your First Franchise Roadmap and a Certified Franchise Consultant
Franchise Profits W/ Your First Franchise
Franchise Financing 101 (+ real estate play): Dan Pace - Your First Franchise
Dan Pace, CEO of First Financial shares your best SBA franchise options to get started quickly. In addition, he shares how you can leverage real estate should you be looking at a physical location.
Dan shares 3 takeaways on this episode of the Close The Deal Podcast (Your First Franchise Episode):
👉Value Bomb 1: Leverage SBA Loans
Dan highlights the importance of SBA loans for franchisees, especially the Express Loans (up to $150,000, no collateral) and Dream Loans (up to $500,000, flexible terms). These loans provide accessible and secure financing options for new and expanding franchises.
👉Value Bomb 2: The Power of Mentorship
Dan credits his success to mentorship, emphasizing that guidance from experienced entrepreneurs is crucial. He advocates for seeking mentors to navigate business challenges, echoing his own journey and his work with SCORE to mentor new business owners.
👉Value Bomb 3: Own Your Real Estate
Dan advises franchisees to consider purchasing their business property using SBA 504 loans. Owning real estate can lower costs compared to leasing, build equity, and provide additional rental income, making it a strategic investment for long-term financial health.
📖 Grab a free copy of my book, Your First Franchise, here:
YourFirstFranchise.com
Considering Your First Franchise, contact Ewell for a free consultation here.
All Franchise Profits Podcast episodes are also featured on the CloseTheDeal.Com Podcast Network.
Ewell Smith is the host of Franchise Profits Podcast and a certified franchise consultant.