What Does the Franchise Landscape Look Like in 2024?

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9 months ago
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Podcasts business acquisition SBA loans franchise opportunities business financing tax returns business acquisition tips loan pre-qualification business ownership entrepreneurship franchise systems

What Does the Franchise Landscape Look Like in 2024?

Focus on Financials for SBA Loans: When considering a business acquisition in 2024, prioritize obtaining and analyzing three years of the seller’s tax returns, interim financial statements, and balance sheets, as SBA loans are underwritten based on these documents.

Pre-Qualification Process: Personal financial documentation is also required, including three years of your own tax returns and a resume, to pre-qualify for an SBA 7A loan and receive a tentative term sheet.

Creative Financing Solutions: Consider negotiating with the seller to carry back a portion of the sale price to improve cash flow and facilitate loan approval.

New Community and Resources: A new platform, Business Ownership Academy, is being developed to offer educational resources, community support, and networking opportunities for aspiring business owners, featuring events, case studies, and expert insights.

Engagement and Networking: The Business Ownership Academy aims to foster a vibrant community through regular events and networking opportunities to help members take actionable steps toward business success.

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About Beau: Beau Eckstein is a franchise consultant, commercial mortgage advisor, and business ownership coach who helps entrepreneurs buy, build, and expand their businesses. He assists aspiring entrepreneurs in finding their ideal franchise or business opportunity. Beau's expertise as an investor and business owner allows him to guide clients through the entire process of acquiring, funding, and growing their ventures.

🎥 The video interviews we do on IFP will help you scale your real estate business and learn how to finance your all your projects.

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