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While the past year has brought serious challenges to the senior care industry, several factors have also created a surge in demand for home care services. Population numbers certainly work in favor of this business, with more and more baby boomers turning 65 and older every day and increased numbers of people living with chronic illnesses. The health impacts of the pandemic continue to be far-reaching, leaving more families considering at-home care for themselves and loved ones.

Making the decision to go into business for yourself can be daunting. There’s any number of regulations and requirements to meet before you open the doors. Joining a franchise business model may help ease that transition—but first, you need access to capital.

Reflecting on the past year in which one in five small businesses permanently closed, financial preparedness was a key factor in what helped keep many brands afloat. Specifically, for franchisors like Subway, Senior Helpers, and Meineke, securing millions of dollars in PPP loans for hundreds of franchisees as quickly as possible provided the foundation for recovery.

The volatility of 2020 touched every aspect of franchise ownership, but as operators and prospective franchisees consider a plethora of financing options to meet their new location and remodel needs, there’s one piece of advice that remains timeless.

Streamline you diligence and identify issues early with bVerify by BoeFly.  bVerify conducts an asset verification, yielding confirmed net worth & liquidity, and provides a detailed credit check and background check on candidates for brands.  Watch this 30 minute webinar to learn more.

“Franchisors understand that time kills deals,” says Mike Rozman, President of BoeFly, reciting an oft-used phrase especially applicable to the sometimes-drawn-out process of signing an agreement with a new franchisee. And it’s especially applicable to franchisee financing, which, if left until the tail end of the sales process, can delay and even derail a deal.

ENGLEWOOD CLIFFS, N.J., April 12, 2019 (GLOBE NEWSWIRE) — ConnectOne Bancorp, Inc. (Nasdaq: CNOB) (the “Company” or “ConnectOne”), parent company of ConnectOne Bank (the “Bank”), today announced it has entered into an Asset Purchase and Assumption Agreement with BoeFly, LLC, a New York City based, privately held company, whose online business lending marketplace and suite of technology products specializes in connecting franchisors, small business owners, lenders and professional loan brokers across the United States.