Find the right funding opportunities so your journey to business ownership can take you to new heights.
Many people think they need millions of dollars to start a business – the fact is, you don’t need to be a millionaire to own a franchise. When you invest in a Bumble Roofing franchise opportunity, our franchise success team is available to help you review your financing options and choose the right fit for you to cover roofing company startup costs.
As a prospective franchise owner, you’ll find there are many funding options to choose from when it comes to purchasing your franchise. To achieve the necessary capital, you may be able to combine funds from different sources. The most important factor to consider when reviewing funding opportunities is to determine which best suits your needs.
You can apply for a commercial loan with the bank of your choice. Approval for these types of loans may require a good credit rating and a detailed business plan.
You can use your savings accounts, severance packages from previous employers, or home equity and retirement savings to help finance your franchise. However, it’s important to note that this option can jeopardize future financial security.
With a portion backed by the federal government, SBA loans tend to have more favorable interest rates and repayment terms than conventional commercial bank loans. Type 7(a) loans are recommended as they have fewer limitations than type 504 loans and are ideal for new franchises.
ROBS makes it possible to withdraw money from a 401(k) or other retirement savings account without incurring penalties. Seeking guidance from a Certified Public Accountant is recommended, as rollovers may be risky if not done correctly.
If you’re having difficulty securing commercial bank or SBA loans, it might be worthwhile to look into alternative lenders. Alternative lenders may provide a faster and less stringent approval process than traditional sources, but keep in mind that they generally have higher interest rates and shorter repayment periods.
When you have poor credit ratings, you can’t afford to pay interest, and if all else fails, borrowing from friends and family can be an attractive option. You’ll want to select your partner(s) carefully and provide them with a clear understanding of the risk involved.
We developed our franchise opportunity by utilizing our combined 60 years of experience to create a comprehensive training program and provide ongoing support so you can build a thriving business.
We use satellite imagery technology to generate quotes for our customers, making it easy for franchisees to measure the size, slopes, and other attributes of the property to determine the best course of action.
We make starting your roofing business affordable, as we’ve cut out the need for salespeople and can offer the lowest prices possible due to our purchasing power.
As a franchisee, you’ll enjoy recurring revenue thanks to maintenance services, additional repair, gutter, and solar installation services, and insurance or storm remediation services.
If you’re hardworking and willing to follow our franchise system, you could be a great fit for our opportunity.
To invest in a Bumble Roofing franchise opportunity, you’ll need a complete idea of your financial standing. You’ll be asked to provide a personal net worth statement as part of your consideration during the application process to determine your financial eligibility.
You may qualify for franchise financing if you have more assets than debt or a positive net worth. We may require that you have a minimum amount of liquid assets at your disposal to cover start-up costs, living expenses, and other financial obligations until the business becomes profitable.
There are some steps you can take to ensure you obtain financing approval no matter which loan option you’re reviewing.
Some ideas include:
Our franchise success team has an approved list of lenders who are inclined to work with franchisees.
Starting a franchise with Bumble Roofing doesn't require you to be a millionaire. Our dedicated team is ready to assist you in exploring how to finance your franchise through various financing options that align with your business goals.
Want to see how you can create a buzz in your community with Bumble Roofing? Reach out today to learn more about our roofing franchise opportunity.
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This website and the franchise sales information on this site do not constitute an offer to sell a franchise. The offer of a franchise can only be made through the delivery of a Franchise Disclosure Document. Certain states require that we register the franchise disclosure document in those states. The communications on this web site are not directed by us to the residents of any of those states. Moreover, we will not offer or sell franchises in those states until we have registered the Franchise Disclosure Document (or obtained an applicable exemption from registration) and delivered the Franchise Disclosure Document to the prospective franchisee in compliance with applicable law.
