Our Financing Program
Manage Your Investment in Our Battery Store Franchise
At Batteries Plus, we help prospective franchisees identify the best solutions for their needs with our financing program. Franchisees will likely spend between $199K to $361K to get each location up and running. Though we do not offer financing directly, our three decades of experience give us unique insight into the best ways to secure funding. This experience also makes us attractive to lenders because they have a good idea of what they’re getting into when they finance one of our stores.
Batteries Plus takes into account all the information you share with us about your assets, your credit history, your investments, and so forth to identify the financing options that will be best for you. We’ll help you avoid common mistakes and find a solution that will help your business build the strongest foundation. There are quite a few financing options to choose from:
- Conventional Lenders
Batteries Plus has well-established relationships with lenders that provide franchise financing to new business owners. The lenders on our list are already familiar with our business model, making the process a lot smoother.
- Small Business Administration (SBA) Lenders
The SBA is an excellent resource for learning more about business loan requirements. We have been an SBA-approved franchise since 2008; find us on the SBA registry at www.sba.gov.
- Portfolio Loans
If you have money invested in the stock market, you may consider converting some of your investments in other companies into an investment in your own new business.
Entrepreneurs sometimes go into business together, combining their financial resources and skillsets. This approach can make it easier to qualify for loans.
- Home Equity Loans
If you own real estate that has appreciated, you can tap into your home equity to help finance your business. A home equity loan is often easier to obtain than a business loan and could carry a lower interest rate.
- Leveraging Retirement Funds
Many retirement funds can legally be used to finance a business. In order to avoid triggering early withdrawal tax penalties, it’s important to consult with a professional.
Even if it seems you have enough capital to cover the investment, it’s a good idea to have some extra on hand to cover any unexpected costs that may arise and to ensure you can nurture your business in its early days. The Batteries Plus tech franchise financing program will consider your unique circumstances to provide you with funding options.
There are lots of ways some extra capital could come in handy! Here are a few of them:
- Unexpected Costs – These are less likely to arise when you partner with Batteries Plus, but no one can predict the future. You might run into obstacles, so having some extra cash on hand could be helpful.
- Covering Early Expenses – Before your business has a well-established customer base, you’ll still have expenses to cover (e.g., utilities, lease, salaries, and so forth).
- Grand Opening Promotions – Marketing costs are built into the initial investment, but you might find that going above and beyond could lead to stronger returns.
Contact Batteries Plus today to take advantage of our battery store franchise financing program and start building your new business.