FranFund is providing franchise funding strategies to go from employee to entrepreneur
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Few things are as exciting as starting a new business or expanding an existing one. But nothing that big happens without a little help. Knowing all your options is a critical first step, whether you’re planning to leave your job and go from employee to entrepreneur or expand an existing business.
That’s why you need a trusted partner to help you navigate along the way. FranFund designs flexible funding strategies to meet the unique needs of each business and each entrepreneur. During this process, the FranFund team determines a client’s goals and needs, then designs a funding solution to accomplish those goals. The funding solution could be as simple as facilitating a ROBS (rollover for business startup) transaction or a multilayered plan for rapid expansion.
Whether you’re planning to start a business or wanting to expand an existing one, FranFund will help you design and pick the best funding solution for you. Our process does not stop at designing a businesses’ funding solution. FranFund deconstructs the loan acquisition process to make it easy for the borrower to provide the right information to the lender.
FranFund creates a complete loan package, along with an executive summary that we present to multiple potential lenders. This process ensures that the client obtains the best rates and terms. Once the loan is approved and in process, the FranFund support team stays in constant communication with the lender and borrower to keep the process moving smoothly.
Diligent communication is one of the critical components of FranFund’s process and is at the core of the company’s excellent reputation. “One thing I’ve learned in my career is that communication goes a long way to alleviate fear,” says FranFund’s COO, Sherri Seiber. “The path to business ownership can be challenging and creates uncertainty. Aspiring entrepreneurs have hesitations and anxiety about many issues – whether they will know how to run the business, if they should use their life savings, or if the business will succeed.”
Sherri explains that FranFund’s focus on communication extends to franchisors and franchise consultants as well. “They need to stay up to date on their candidates’ progress, and we make that a priority.”
INVESTING IN YOURSELF WITH THE PROVEN FRANPLAN PROGRAM
Rather than incurring new debt, many entrepreneurs would rather fund their new business using assets they already own. A common way to do this is by using a strategy called Rollover for Business Startup or ROBS.
This funding strategy essentially allows entrepreneurs to leverage qualified retirement funds to capitalize their business. In addition to the benefits of funding a new business, ROBS strategies can use any portion of a business owner’s retirement funds and are a great way to diversify one’s portfolio with an active investment that they have control over.
ROBS plans are tax-deferred and if this is the sole funding vehicle for the business, incur zero debt. The ROBS program is guided by the Internal Revenue Service (IRS) and Department of Labor (DOL) and has been in place since the Employee Retirement Income Security Act (ERISA) of 1974. Working with a trustworthy and experienced funding provider like FranFund is crucial because the rules can be complex.
FranFund administers ROBS plans through its proven FranPlan program, which helps ensure compliance with all federal guidelines. FranFund then provides ongoing third-party administration of their ROBS plan throughout the life of this funding plan. Many entrepreneurs utilize a combination of FranFund-facilitated tools in their capitalization strategies. Custom-tailored strategies are one of the main advantages of working with a holistic funding solutions provider.
LEADERSHIP PHILOSOPHY
FranFund was founded in 2006 by Geoff Seiber, a franchise industry veteran with firsthand experience as a franchise owner, franchise developer, and new franchise creator. Geoff’s extensive background in franchise operations and development, helping evolve brands like Domino’s Pizza and Great Clips, and later as co-founder of the prominent national franchising consulting company, FranChoice, gives him a unique perspective on the franchise funding space.
“I realized that aspiring business owners would benefit from a financial partner who could provide multiple funding solutions under one roof”
After spending decades in the industry, Geoff recognized a need for consolidated franchise funding solutions. “I realized that aspiring business owners would benefit from a financial partner who could provide multiple funding solutions under one roof,” Geoff explains. “FranFund was the pioneer of the one-stop-shop concept in the funding space.”
FranFund is the industry leader when it comes to high-touch and engaging five-star service. This is critical when it comes to assuaging uncertainty in business owners, and it helps them focus on the day-to-day operation of their businesses.
If you’re considering franchise business ownership, FranFund is a trusted supplier. It provides all funding solutions under one roof and makes the process painless and straightforward, so you can focus on what really matters: launching or growing your business.
AT A GLANCE FRANFUND
Established: 2006
Location: Fort Worth, Texas
Contact: info@franfund.com
