Generally, most franchise companies offer some assistance with financing. They usually require a down payment and most will check on the financial history of the buyer before awarding them their franchise - so I would check with the company first to understand what they have and require.
Based upon my experience, I would say that the most likely place to find someone to help with the finances or invest in your purchase will be your extended network. To give yourself the highest probably of success with this effort while avoiding the pitfalls, you should get capital ready before beginning your quest.
If you would like to discuss your specific situation, feel free to drop me a PM or contact me directly.
Although I don't have enough details to give you specific suggestions, I will offer the following comments which are based upon 11+ years of working with entrepreneurs:
1 The amount you are seeking will (to some degree) limit the options.
2. The first key to success in acquiring capital is to choose the "right" path or capital strategy.
3. The second key is to become Capital Ready. What is entailed to be capital ready will be dictated by the strategy you select.
4 The third key is to follow a (proven) process to identify, approach, interest, engage and convert your "target sources" into capital suppliers (lender, investor, etc).
5. For the vast majority of early stage companies, the capital will come from the founders extended network - so you should develop a "game plan" to tap into that resource. [something I call building your constituency]
Hope this helps. If you want to discuss your specific situation, feel free to send me a PM or contact me directly.
Im kind of new to this so I dont know how this works, so I decided to just go with the flow based on what Im seeing in the forum.
I currently dont have the capital to start my business and was wondering if anyone knew of any legit investors or angle funders that would be interested in assisting? the Maximum amount that would be requested is about $155k. Which includes all business start up cost. To be exact, its a food franchise opportunity from a world wide, well known, food chain.
To my understanding, it should take about 9-10 weeks to get the franchise up and running (includes training, setting up at business location, etc...)
Can you also tell me, if you recommend going thru several investors or solely going thru one investor? I was thinking, it might be easier to get funding from more than one investor assuming its easier to request $52k from three seperate investors, instead of $155k from one investor.
Note: I am a very honest and hard working individual, and would prefer only doing business with someone with atleast those qualities. Im dedicated and anxious to start quickly, but wont mind delaying the opportunity to find a honest investor (clean record, no scams, etc..).