Sending Out an SOS
Our franchisees just hit an iceberg in negotiating their land deal. Will they be able to keep it afloat?
It's been nine months since Jack wrote two checks totaling $20,000 as the down payment for an oil-change franchise. The search for an affordable site has taken months. As of a few weeks ago, everything appeared to be on track. Then Jack's world was turned upside down.
It's a pretty worn axiom that it takes money to make money, but for Jack and Diane, the cliché certainly rings true. Like many of us, this couple has invested religiously in their 401(k) plans and has built equity in their home. Unlike many of us, they have been able to save some cash-enough to purchase a pretty expensive franchise. But they need more, and they need it now, because the deal on the real estate they want is in jeopardy.
Continue reading this article -- and everything on Entrepreneur!
Become a member to get unlimited access and support the voices you want to hear more from. Get full access to Entrepreneur for just $5!