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In the latest Franchisee Focus video, we asked several multi-unit owners about two topics that all restaurant franchisees can relate to: how they secured funding for their franchises and their top concerns about the industry that keep them up at night.
The franchisees shared stories about how they financed their first franchise and continue to get funding as they have added locations. Some of the methods included personal cash and striking the right combinations of cash, equity, and debt. It also included leveraging relationships with local banks, including securing favorable fixed rates from several years ago as they continued to grow.
The franchise owners also discussed some of the main issues impacting the restaurant industry that are weighing heavily on their minds. Their responses included the competitive nature of the QSR space, an uncertain economy, unknown interest rates in the next several years, the increased costs of goods, high employee wages, and the lingering issue of labor shortage.
In the video, you’ll hear from:
Hear directly from the franchisees themselves in the video above.