Many Financing Options to Choose From
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.
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 skill-sets. 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.
Savvy Investors Realize
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 take your unique circumstances into account to provide you with funding options. There are lots of ways some extra capital could come in handy!
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.
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We estimate that the initial investment will run from $221,813 to $423,831. While we don’t offer financing, we can help our franchisees connect with SBA lenders and other relevant contacts.
The initial franchise fee is $44,500, which is included in your initial investment. There are discounts on the franchise fee to qualified veterans and first responders, as well as multi-unit investors.
Batteries Plus is currently looking to open new locations in all 50 states. We’re especially interested in opening locations in states including California, Pennsylvania, New York, and Massachusetts.
You don’t need any specialized experience to open a Batteries Plus. If you’re dedicated to mastering our system and ready to make the investment, there’s a good chance you’re qualified to join our team.
Our franchisees can look forward to receiving comprehensive support throughout the life of their business. Not only does our team continually look for ways to simplify operations, but we also invest in research and development to ensure our franchisees are offering the products and services their community needs. Ongoing training via business coaching and our online system gives you valuable tools to keep your business running smoothly.
Contact Batteries Plus today to take advantage of the tech franchise financing program and start building your new business.