Fitness Franchise Financing Options with the SBA 7a Loan Program

Fitness Franchise Financing Options with the SBA 7a loan program

Hey Beau,

I watched a previous episode “Financing a Planet Fitness Franchise Using SBA 7a Financing”. I am currently contemplating starting a fitness concept. I am evaluating my buying power first.
What intrigued me with your past show was that we can potentially get high-leverage financing. I believe my old 401k would qualify for a rollover for my down payment. Essentially, I am not getting much of a return with the 401k and I’d like to roll that into a potentially good cash flowing business. It makes a lot of sense to me!
Please walk me through your thought process on this and what I might want to start looking into. My 401k has about $350k in it and I also have $150k liquid. I am retiring from my career in law enforcement in about 3 years and have the time and bandwidth to get this going now.

Looking forward to hearing your thoughts on a future episode!

All the best,
Tyler

Timestamps
[01:16] If the 401K is from a previous employer, it’s possible that you can utilize a ROBS rollover plan
[01:37] Make sure that it is eligible to roll over so you can invest it into the franchise startup
[02:00] If you can get in for 10 or 15 percent of total project costs, you could be looking at purchasing 2-3-million-dollar franchise concept with total build out
[02:27] Keep your current employment
[02:40] Find the right franchise concept
[02:44] Make sure that it’s an SBA financing eligible by checking the SBA Directory List
[02:51] Be in contact with Beau’s team and partners who could do ROBS rollover
[03:01] Do the due diligence on the different franchise concepts
[03:31] Franchises are sometimes easier to finance than a startup
[03:59] Book a call at https://investorfinancingpodcast.com/rumble

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#franchisebusiness #franchisefinancing #fitnessbusiness

About Beau: Beau Eckstein is a real estate entrepreneur, TV personality, and commercial mortgage advisor, specializing in construction financing and multi-family lending.

🎥 The video interviews we do on IFP will help you scale your real estate business and learn how to finance your all your projects.

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