Are Your Finances Ready to Handle a Franchise? | VetFran

When you make the decision to run a franchise, you need to make sure your ducks are in a row when it comes to your finances—just like you do in your personal life.

Our team at VetFran wants you to know how you can better manage your money so that the cash flow of your franchise keeps moving in a positive direction.

Keep Your Passion Alive

Money isn’t everything—but it is an important component of running a franchise. Therefore, you want to make sure you make a money a priority but without sacrificing the passion you have for the franchise.

Here are some ways to make sure you are reducing the stress of money management:

Know When to Buy

There are times when you need to buy when running a business, but then there are also times when you should lease. Therefore, you need to know the difference and the timing of each so that you can make the best use of your money.

For instance, it might be better to rent equipment for your business rather than buy right away. Also, you want to make sure that you are looking at both sides so that you are keeping in mind your needs for the future.

Know Where Your Money Is Going

You want to stay in the know about your inventory. At all times, you should have an up-to-date database related to your products or to components needed to provide your service to customers.

It is important to know exactly how much you have in stock, as well as what you need to order. In addition, you want to make sure that your bills are being paid on time and that your bills align with customer payments.

We Are Here to Help

Investing in a franchise often requires a good deal of money upfront, but when you’re looking to enter franchising as a veteran, there’s plenty of assistance available. Our team is happy to help you navigate franchise financing options and other programs that may help.

If you are looking for a new career after the military, our team at VetFran would love to speak with you about how you could find yourself in the role of franchisee. Let us help you find the perfect fit!