Budgets are tough. Budgets aren’t always easy to stick to. And sometimes it’s an even tougher task to come up with a budget in the first place. Take, for example, the startup costs you’ll have as you get your franchise up and running. How much will everything cost? Are you prepared — fiscally?
A lack of cash flow is one of the most common reasons a small business doesn’t make it out of its first year. The better you understand your initial startup costs, the better off you’ll be in the long run. Seriously.
So before you approach a lender, let’s make sure we get a better handle on the variety of costs associated with becoming a Bin There Dump That franchise operator. The best way to do that? Make two lists.
Here’s a look at what should be on your lists. Continue reading “Before You Approach A Lender: Understand Your Franchise Startup Costs”