There are multiple avenues for funding your business, and no one path is going to be the right one for everybody. On that note, people should take heart that there are often many right roads to funding so long as you’re informed before you get into the weeds of business funding options. 

December is a slow month for some business owners. Customers are on the downswing of their buying cycles. It's a time for business owners to take stock and get their books in order. For many other business owners, however, this is the busiest time of the year. This is particularly true for businesses that sell B2C and have high degrees of seasonality. This year’s favorable retail outlook should keep things even busier than usual this holiday season!

If you find yourself among those in an end-of-year frenzy, relax and take a deep breath. You will come out on the other end stronger than before! It’s easy to get lost in the year-end tasks that are likely taking up a majority of your time. Especially when all you want for Christmas is for the books to be balanced, end-of-year bonuses to be disbursed, taxes to be put in order, inventory to be accounted for, Q1 forecasts to be finished… is that too much to ask for?

While end-of-year needs obviously matter, it’s also important to keep your eye on the big picture; the life of your business will continue well past December 31^st. This is a great time to reflect on what you accomplished this year and plan for your future.  In addition to more commonly discussed end-of-year tasks, 2020 has some trends in store that should warrant your attention as a small business owner.

Thanksgiving is this week, which for many of us means time off of work to celebrate holiday traditions with our family and friends. A time to slow down a bit, relax, and unwind.

But for most business owners, this is the busiest time of year, with Black Friday, Small Business Saturday and Cyber Monday right around the corner. Businesses rely heavily on holiday sales to boost annual performance, so instead of slowing down, they are ramping up.

November is National Entrepreneurship Month, which celebrates our country's entrepreneurs who create jobs, spur growth, and push forward with innovation. The United States remains the world's strongest market for entrepreneurship. This is largely due to unparalleled access to research and capital, favorable public policy, and perhaps most importantly, a business culture that encourages both risk and creativity. 

On this special day, we give thanks and honor the sacrifices made by the men and women who have served our country across all five branches of the U.S. Armed Forces. In addition to having protected our freedom, veterans have historically been – and continue to be –successful entrepreneurs and vital contributors to our economy.

Federal Reserve interest rates have been a hot topic in the news lately. With the Fed reducing rates last week, this is a great time to understand what Fed interest rates are and how they affect franchise financing.

For ambitious entrepreneurs debating their best funding options for their business, this question is often posed: Can I use my 401(k) as an investment fund?

Entry costs for franchising vary based on brand, location, industry (quick service restaurant, travel, beauty, etc.), and level of support. It’s important to fully understand the financial requirements to get your business started. Your decision to open one franchise brand over another may very well be influenced by the total investment amount. You will also need to know your total project cost when you are ready to explore funding options for your business.

So, what exactly are the costs involved in opening a franchise? There are two main categories – your initial start-up costs, which are typically one-time expenses and your on-going expenses, which are usually incurred on a monthly basis.

Are you considering business ownership and wondering if a franchise is a good investment? Owning a franchise can be a lucrative and rewarding experience. It allows you to invest in a proven system, work for yourself, and in many cases, enjoy greater returns than alternative options.  

When you get voted #1, especially by the people who matter the most, you celebrate. At FranFund, we are in full celebration mode this week! We want to thank everyone who voted and helped name us #1 on Entrepreneur Magazine’s Annual Franchise Industry Supplier Ranking.