How Do You Finance A Two Maids & A Mop Franchise?
We have franchisees from all personal and financial backgrounds. Our franchise opportunity is a great fit whether you’re a career blue-collar employee or white-collar executive from corporate America. In fact, one of our most successful franchise owners worked inside a paper mill factory for most of his career prior to building his three-store franchise empire. Another one was an early investor in a major logistics brand more than 30 years ago while another was an elementary school music teacher prior to opening his franchise. Our franchisees are very diverse but all share one common trait: they’re hungry and eager to use their investment in Two Maids & A Mop to transform their own personal lives.
The affordability of our franchise investment allows almost anyone with a true hunger to become an entrepreneur to start a Two Maids & A Mop. You may be wondering if you can afford the investment. We’re fortunate to have years of experience securing successful financing for our franchisees. Looking back over the years, many of our current franchisees have used the following products to finance their entire franchise investment.
Home Equity Loan
If you have equity in your personal home or any other real estate, then you may qualify for a home equity loan, commonly referred to as a HELOC. This type of loan can be a less expensive way to finance your franchise and the process moves pretty quickly since real estate is a preferred type of collateral for most banks.
The U.S. Small Business Administration created the SBA Franchise Directory to streamline the process for entrepreneurs looking to access capital. Our brand is included within the SBA approved franchise directory which allows us to fast track qualified franchise candidates through the SBA application process. There are multiple ways to utilize the SBA for your business’ financing and we work with several preferred lenders that can walk you through the process.
401(k) Retirement Rollovers
We work with several lending partners that can work with you to access capital from your 401(k) retirement account. The savings inside your 401(k) can be moved into a self-directed IRA that can then be used to start a business. This process usually only takes 2-3 weeks and does not penalize your retirement account with early withdrawal penalties.
Some of our current franchises are owned by groups of people. Typically, a group forms a company comprised of different individuals that all perform a service. Some of the individuals within the company may provide capital while others may provide sweat equity towards the operations of the business. This arrangement is delicate and everyone within the group must understand their specific roles in order for us to approve the franchise candidate for territory development.