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As concerns over rising interest rates and inflation mount, they’re also dampening the growth outlook among franchisors. Just over half of C-level executives, 54.4 percent, said they are confident their brand will meet its growth goals this year. That’s down from 76.9 percent in April, when executives were surveyed by financial technology company BoeFly, which helps franchisors qualify their applicants and also connects those candidates with lending options.

Franchise Solutions Platform Helps Scenthound Franchisee Navigate Funding Process

NEW YORK – August 14, 2023 – BoeFly, the leading financial technology company specializing in franchise solutions, announced today that Kristen Gonzalez, a new Scenthound franchisee, has successfully secured funding through the BoeFly platform to open her first location in Miramar-Pembroke Pines, Florida.

Franchise Solutions Platform Helps Scenthound Franchisee Navigate Funding Process

NEW YORK – August 2, 2023 – BoeFly, the leading financial technology company specializing in franchise solutions, announced today that Roberto Lee, a new Scenthound franchisee, has successfully secured funding through the BoeFly platform to open his first location in Orlando, Florida.

Ready to take your franchise business to the next level? If you’ve mastered the operation of your first location, expansion is a great way to keep the momentum going. However, it’s not always that simple. Especially if you’re in a prime market, Franchisors may prefer awarding additional locations to current Multi-Unit Franchisees. So, how can you jumpstart your franchise growth path? Learn even key tips and how BoeFly can help expedite the process.

Inflation, interest rate increases, and other economic factors aren’t dampening the growth outlook for franchisors, as 76.9 percent of C-level executives said they are confident their brand will meet its growth goals this year. That’s according to a new survey from financial technology company BoeFly, which helps franchisors qualify their applicants and also connects those candidates with lending options.

Methodology

In an effort to measure the impact of current economic conditions on franchisors’ growth, BoeFly has created the quarterly Franchise Growth Confidence Index to assess franchisor executive confidence related to achieving their domestic growth goals. The inaugural Index was conducted online from April 4 – April 16, 2023, and surveyed nearly 700 franchisor CEOs, CFOs, and CDOs across several major industries, including automotive, education, fitness, health/beauty, home services, restaurants, and retail.

Franchise Solutions Platform Helps Pet Supplies Plus Franchisees Navigate Funding

NEW YORK – May 15, 2023 – BoeFly, the leading financial technology company specializing in franchise solutions, announced today that Karthikeyan Patchamuthu and Indrani Karthikeyan, Pet Supplies Plus franchisees and husband and wife duo, have successfully secured funding through the BoeFly platform to open their first location in Sugarland, Texas.

Franchise Solutions Platform Helps Smoothie King Franchisees Navigate Funding

NEW YORK – BoeFly, the leading financial technology company specializing in franchise solutions, announced today that DeSario Turner, the new Smoothie King franchisee, has successfully secured funding through the BoeFly platform to open her first location in Southeast Wisconsin.

For any franchise, buildout costs are a key consideration. In Item 7 of the Franchise Disclosure Agreement (FDD), Franchisors provide a range of estimated costs associated with opening their franchise — including buildout costs. These estimates will help Franchise Owners determine how large of a loan to secure. However, with fluctuating material costs and rising inflation, Franchise Owners can run into trouble by underestimating how much commercial buildout costs. As an experienced franchise lending partner, BoeFly helps Franchisors and Franchise Owners from all industries navigate today’s market and secure funding.

Launching your first franchise is a lot like buying a house — a big, exciting purchase that comes with lots of details and questions. If you’re getting lost in the financial lingo of franchise lenders, don’t worry. You don’t need to be an expert in finance to be successful. With a working knowledge and the right financial partners, you can be confident you’re making the right decisions.