The Franchise Industry continues to fill with qualified entrepreneurs and new business professionals. More and more of these candidates are made up of professional women. The franchise marketplace has been flooded by women over the past five years. According the Center for Women’s Business Research, over 30% of all franchises are owned by women.
With the new stimulus programs available for small business owners to start franchises and small businesses there are more opportunities for funding and finance options for all potential franchisees. This is particularly true for women entrenpreneurs entering the franchise arena.
Women who are in a lease hold space now have the option of loans from the SBA who is currently offering 7-10 year terms, 6% interest rates and no prepayment penalty. For business owners who own their own buildings, and are wanting to either refinance a building or purchase a new building, the SBA is currently offering 25 year financing, 5-6% interest, fixed with a 3 year prepay program. For some potential women franchise buyers, they have the option of purchasing a building with only 10% down instead of the standard 30-50% down payment in today’s market.
Franchising offers people the opportunity to start their business with a blueprint for success and a mentor to lead the way through a big step in their life. With current financial programs in place for women franchise owners, there are many opportunities to help these entrepreneurs realize their dreams of starting a business.