Anyone can have a dream, but only a few are successful because they have worked for it and wanted it more than anything else. They have visualized it, tasted it, lived it and breathed it day in and day out. Those are the ones who make it. Do you have what it takes?..You wake up suddenly, heart pounding and covered in a cold sweat. You aren’t sure who it was in the dream who spoke to you but it was warm and familiar yet firm and unknown all at the same time. After shaking away the cobwebs you glance at the clock and realize it is time to get ready for your meeting with the loan officer. Your wife suggested that you both sit down and discuss the financial possibilities so that you will know whether or not you can proceed as a potential franchisee.
At nine o’clock sharp you find yourselves face to face with an experienced loan officer at your local bank and begin to explain your ideas to him. You go through some of the important information about Thunder Beach and the layout of your business plan to become a franchisee. He is immediately glad to hear that you are working with a franchise rather than starting a business on your own since this is your first venture as a business owner and the franchise has already been proven to be successful in the past. You tell him that you need to prequalify for a loan of around $150,000 in order to take the next step in the process and that you have already found several good locations that could possibly be used to build courts. He questions the two of you on how much research you have done and cautions you on the risks involved, but after you explain more details to him he is ready to get you started and has you fill out the loan documents. He goes over your credit, finances and options with you in the next hour and at the end of the meeting he assures you that he will have a response for you within a week after he meets with the loan committee. He is confident that because of your longtime membership with the bank and the assets you listed on the application it should be a go. The silent nod between you and your wife is all you need to know that you are on the same page and are equally ready to make the investment when the time comes.
Over the weekend you and your good friend drive out to three locations that you found to be promising on your first scouting trip and walk out the land with each step equalling about three feet. All of the locations meet the size requirements and you jot down the numbers to relay to Thunder Beach personnel later. You are most interested in the land next to a family fun center since you can envision it being a great place to bring your children and new grandchild. On the way home, your friend confesses that he met with a loan officer and will not be able to get a conventional loan so he submitted an application for approval of an SBA guarantee loan of $50,000, which he is waiting to hear back on. The two of you collaborate on the possibility of owning the business two thirds to one third and dividing up responsibilities accordingly. You are willing to work with him because he is someone you’ve always been able to count on and you know that he is just as passionate about the franchisee dream as you are.
Monday afternoon rolls around and you place another call to Mr. McCormack, who is ready as always to go over information with you. You let him know that you have walked out three potential buildout locations and give him the addresses and contact information for each of the businesses associated with the locations. After mentioning that you favor the family fun center location he agrees that he likes where you are going with that idea, as he is a family man himself. You also let him know that you met with a loan officer and are waiting for a response but that you are confident you will be prequalified for a loan of $150,000. He will be sending you franchisee forms to be filled out and explains that he will be contacting the businesses with the available land that you provided him to see if they are interested in the Thunder Beach franchise. If one of them are interested and you receive the go ahead from the bank, you will be able to submit the franchise option fee and a Thunder Beach team will meet in person with you and the business owner of the location in order to work out a negotiation and get the ball rolling. By the time you get off the phone you can barely contain your excitement and do a little victory dance in the breakroom, much to the amusement of your coworkers. Little do they know, you are getting closer every second to launching a hot, new franchise business and making your dreams come true.
To be continued…