The Three F's Provide Much-Needed Financial Help for Getting a Computer Repair Franchise Off the Ground
For many entrepreneurs looking to buy into computer repair franchises, finding the funding to get started can be a serious hurdle. SP Home Run Inc. has found three possibilities that have proved to be popular sources of initial capital for getting a new computer repair franchise business up and running.
The three F's of funding include:
* Family - This is often the first place that many entrepreneurs should start. Even though prospective computer franchises may not secure the capital needed, pitching to family members can be excellent practice for future conversations with others about funding. Family members know a person best and often don't need much persuasion to buy into their dreams. One important piece of advice for entrepreneurs is: if money may become more important than the relationship itself, do NOT take the funding. Don't let money affect relationships.
* Friends - Although sometimes very supportive when it comes to backing another friend's goals and dreams, friends investing in a computer repair franchise are more likely than family members to expect to see financial gains from helping to fund a business.
* "Fools" - If prospective computer support franchise owners are skilled at managing relationships, then convincing a few random "fools" to invest may be a good way to go. While this could be a quick way to raise the necessary capital, it's important to note that exploiting impulsiveness or ignorance is definitely NOT the preferred approach. Rather, "fools" in this context usually refers to individuals who make investment decisions based on gut feel or emotions, rather than rigorous analysis of business plans. Be sure to consult an attorney and an accountant before securing any capital for a new computer repair franchise.
"It can be extremely difficult to find the funding required to start a computer repair franchise," said Joshua Feinberg, Business Development Director of SP Home Run Inc. "In a perfect world, an angel investor would magically appear with an unlimited amount of money and no strings attached. However, fairy tales aside, that is unlikely, especially for a new franchise business owner. These are several viable paths that all entrepreneurs starting a computer repair business end up following at some point and the three ‘F's' can make a computer repair franchise dream possible. Just be sure to consult with a qualified local attorney and accountant to make sure your plans are sound."