Equity isn’t my first choice for raising capital.
Here’s why:
Franchises are cash-flow businesses.
They aren’t high-growth tech companies that must raise equity just to survive. No bank is lending to those.
Our businesses should be making money within 90 days of launching.
Banks love to lend to franchisees.
Many franchisees are willing to seller-finance to other franchisees.
Debt is plentiful in the franchise business.