Batteries Plus Franchise Financing Program
Franchise Financing Options:
Franchise Financing Lenders
Batteries Plus has well-established relationships with franchise finance lenders that provide the help new business owners need when getting a loan to open a franchise. 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 franchise loan requirements. We have been an SBA-approved business since 2008; find us on the SBA registry at www.sba.gov.
Convertible Loans
If you own real estate that has appreciated, you can tap into your home equity to help you get a business loan to open a franchise. A home equity loan is often easier to obtain than a franchise loan and could carry a lower interest rate.
Partnerships
Entrepreneurs sometimes go into business together, combining their financial resources and skill-sets. This approach can make it easier getting a loan to open a franchise.
Home Equity Loans
If you own real estate that has appreciated, you can tap into your home equity to help you get a business loan to open a franchise. A home equity loan is often easier to obtain than a franchise loan and could carry a lower interest rate.
Leveraging Retirement Funds
Many retirement funds can legally be used to finance a franchise. In order to avoid triggering early withdrawal tax penalties, it’s important to consult with a professional.
3 Things to Know When
Getting a Loan to Open a Franchise
Franchise Financing can have 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 When Getting a Loan to Open a Franchise
Before your business has a well-established customer base, you’ll still have expenses to cover (e.g., utilities, lease, salaries, and so forth).
Franchise 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.
Franchise Financing Questions
We estimate that the initial investment will run from $197,400 – $465,600. While we don’t offer financing, we can help our franchisees connect with SBA lenders and other relevant contacts. Learn More
The initial franchise fee is $49,500, 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. We also now have discounts for historically underrepresented groups (such as minority candidates or LGBTQ+ candidates)
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.
charge into your future
Contact Batteries Plus today to take advantage of the tech franchise financing program and start building your new business.
