Miscellaneous
The most common reason that businesses fail is inadequate capital. But where is the money to fund a business found?This is the question we answer in today’s podcast episode.But even before we look at ways to fund a fitness business, do you know that you are several times more likely to get funding if you are going for a franchise.A franchise is a proven concept, and financiers know that you are more likely to succeed in a franchise than when you are on your own.Now, if you are looking for ways to fund a fitness franchise, the top 3 options are:Personal fundingSBA (Small Business Administration) Loan401K ROBS (Rollover for Business Startups)Tune in to this episode to learn the advantages and disadvantages of each of these three options and the best one to go for when funding a fitness franchise.Key Takeaways- How Alloy franchisees are doing (00:24)- Why getting funding for a franchise is easier (04:07)- Personally funding your fitness business (06:14)- Finding an investor to fund your business (08:04)- SBA loan – Alloy is an SBA approved franchise (10:00)- How you can use your 401K (without penalties) to fund a business (11:54)Additional Resources:Alloy Personal TrainingLearn About The Alloy Franchise Opportunity---------You can find the podcast on Apple, Google, Spotify, Stitcher, or wherever you listen to podcasts.If you haven’t already, please rate and review the podcast on Apple Podcasts!