Every small business has the occasional unexpected project pop up. That could be because something breaks down, or it could be new technology emerging that you just have to have.
For franchisees, however, the biggest projects usually arrive with a fair amount of warning. That makes it even more important to plan ahead.
Remodels are a great example of a franchisor-required project that you’ll have months or even a year to complete. While that’s not a lot of time for such a major project—especially one that will require you to close your store for at least a few days—it’s enough to let you put a plan together.
There’s three reasons why it’s critically important to plan ahead for those major franchise projects:
- You’ll need financing. Unless you’re one of the few franchisees who are insanely successful and can afford a major remodel out of pocket, you’ll need to have at least some of the remodel cost financed. Reaching out to a reliable franchise finance firm, like Direct Capital, is a good way to figure out your needs, get financing and deploy it in a timely fashion.
- You need contractors. Unless you’re extremely handy, chances are you won’t be tearing down walls and building things back up. Once you’ve got the financing in place, you can hire the best contractors in your area and put them to work.
- You want to avoid scrambling. If you have a year to get the remodel done, you want to time it so it will happen during your slowest season and so there’s no chance that overruns or delays will take you beyond the mandated window. In other words, you don’t want to have to worry.
For all these reasons and more besides, you’ll want to have everything mapped out months in advance. If you have an upcoming major project like a remodel, reach out to Direct Capital to learn how we can help you out!
Direct Capital is a leading national franchise lender.