ProfitMastery CEO Steve LeFever guided this webinar on the details of developing and enacting a concrete financial action plan for franchisors and franchisees alike, who are under stress from COVID-19-related cash flow and credit access strains. LeFever stressed the need for every business to undergo a balance sheet assessment of their solvency/working capital, liquidity, and leverage/risk to determine business health and create an ongoing financial report card. LeFever also provided step-by-step instructions for businesses to determine the now-critical cash flow burn rate, and guidance on how to lengthen businesses’ cash runway in times of financial stress.

Everything you wish you had known going into franchising, and everything your business needs to know now to be franchise finance professionals.

What are investors really looking for?

The top tips your franchise needs in order to be finance pros.

Tips for your business on how to overcome a sales slump and maintain transparency through it.

Strategies to move forward despite roadblocks caused by the federal shutdown in January.

Tips for determining your need, navigating the process and finding the right investor.

There are a variety of loan programs available through the SBA including specific ones for veterans, disaster recovery, etc. The primary one for small business owners is the 7(a) program, which is more generally focused on helping small businesses start and grow. 

When considering finance options for a franchise opportunity, the best strategy is to take a personal inventory of your resources first, before deciding on one path or another.  There are many creative options and strategies to utilize.