Finance a Franchise | Start a Business

Start the Preliminary

Franchise Process Now!

Take charge of your future and get in touch today.

Name(Required)

First Name * Last Name *

Phone Number *(Required)

Email *(Required)

Notes

By submitting this form, you agree to receive emails, calls, and texts from 1Heart Caregiver Services. For more information, please refer to our Privacy Policy.

Are you a caregiver looking for positions in your area? Click HERE

Find out how 1Heart can help you accomplish your business goals.

LEARN MORE

After you’ve finally made the decision to take the plunge into franchising, the last thing you want to worry about is how you’re going to get the funding to help it thrive. Money is a tough issue for a lot of us, but it doesn’t have to completely stop anyone from pursuing their dreams. Fortunately, there are a lot of franchise financing options available to anyone willing to dig a little deeper and find a conventional franchise option that’s right for them.

Franchisor Options

We know most potential franchisees are fiscally cautious—and we get it. Your franchisor wants you to succeed as much as you do, so they will be there to help
during initial financing. In many cases, a franchisor will be able to offer you franchise financing options for all of your costs including the franchise fees,
equipment, and marketing resources. Some franchises, including 1Heart Franchise, will connect you with financing companies they have agreements with so you
can get approved for your conventional franchise more easily, streamlining the loan process by leaps and bounds.

Conventional Loans

A conventional loan is a loan from a bank that can be used for a variety of things. When deciding how to finance a franchise, many people choose this route as it can seem the most straightforward. However, you will need a good credit score, a solid business plan, and collateral, all of which the bank will take into consideration before offering you a loan. If you have a good amount of equity or value in your house—and you’re willing to go the distance for your conventional franchise–you could also consider a home equity loan if you’re willing to take the risk of using your own home as collateral.

Small Business Administration (SBA) Loan

SBA loans are very similar to conventional loans from a bank. They are backed by the Small Business Administration and are a very common option for people navigating how to finance a franchise. The main difference between SBA and conventional loans is that a portion of the loan is guaranteed to be paid back to the lender. With that safety net in place, lenders are often willing to reduce interest rates on your conventional franchise and offer longer loan terms. You’ll need a good credit score and solid financial standing to be approved.

Additional Options

If your credit score isn’t as great as you’d like or you have a loan but it doesn’t quite cover all of your expenses, you can always get a little more creative:

Create a C corporation through your retirement fund to buy stock in your new business
Lease business equipment to relieve upfront costs

If you’re still worried about how to finance a franchise, we can set your mind at ease. 1Heart Franchise wants to work with people looking to help seniors live comfortable and fulfilling lives, no matter what their conventional franchise experience or monetary situation may look like. We have an incredible support system and relatively low start-up costs compared to other retail franchises, as well as a caring staff that’s dedicated to your success. Get started today and we will connect you with a trusted lending company. If other financing options have gotten you nowhere, trust the experts at 1Heart Franchise today.

Let’s get started

Want to learn more?

Frequently Asked Questions

01. Why is 1Heart Caregiver Services the best homecare franchise?

Unlike starting your own homecare business from scratch, the 1Heart Caregiver Services franchise gives you brand recognition and a highly regarded service from your first day in business. We help you with marketing, permitting, and getting your eldercare services noticed.

02. What is the up-front investment needed to start a 1Heart Caregiver Services franchise?

Depending on your franchise location, the total financing needed ranges from $80,000 and $113,000. This amount includes the initial franchise fee is $45,000. The amount of your investment will be discussed during your application.

03. How can I secure financing for a franchise?

Most 1Heart Caregiver Services franchise owners pursue traditional loans through a bank, local credit union, or the Small Business Association (SBA). The rates and qualifications for these financing options will depend on your personal financial history. Franchisees are encouraged to “shop around” for the best rates and terms.

04. I’m not sure I qualify for traditional loans. What are some creative solutions to raise money?

There are many creative ways to raise the funds needed to start a franchise. These include starting a franchise with partners or family members, seeking donations or gifts to raise funds, or consulting with an accountant to create stock options through a C corporation that uses your pre-existing retirement funds.

05. Does 1Heart offer training and skills development assistance?

Yes, we do. The 1Heart Caregiver Services Business Academy is available to all franchisees and offers assistance in obtaining your homecare permits, plus skills and information to help your business grow and succeed.

Call Us Now To Get Started

How to Finance a Franchise