How to Fund Your Business Without Breaking the Bank

Hire Yourself Podcast with Pete Gilfillan

Pete Gilfillan tackles one of the most common concerns among aspiring franchise owners: How do I fund my business? In this episode, Pete breaks down various funding options, from SBA loans to leveraging retirement funds, offering practical strategies to help you secure the capital you need to launch and scale your franchise successfully.

In this episode, Pete discusses:

• SBA Loans and Traditional Loans

Pete explains how Small Business Administration (SBA) loans work, including their guarantees, rates, and timelines. He also highlights how traditional loans can be an option for experienced business owners or existing franchises.

• Using Home Equity

Pete emphasizes the value of tapping into home equity as a funding source, enabling you to leverage one of your largest assets to invest in your business.

• Leveraging Retirement Accounts

Discover how you can use your 401(k) or IRA to fund your franchise in a tax-compliant way, turning your retirement savings into an investment in your future.

• Combining Capital Sources

Pete shares examples of how entrepreneurs can mix and match funding options—such as cash, loans, and retirement funds—to open multiple franchise locations over time.

Key Takeaways:

• Know Your Options

From SBA loans to ROBS (Rollover for Business Startups), understanding the various funding methods available can help you craft the best approach for your business goals.

• Leverage Your Assets

Using home equity or investment portfolios strategically can unlock the capital needed to kickstart or scale your franchise.

• Plan for Growth

Combining funding sources allows you to expand your business systematically, reducing risk while maximizing opportunities.

"Investing in a franchise isn’t just about having the money—it’s about knowing how to leverage the right resources to build your dream business." — Pete Gilfillan

CONNECT WITH PETE GILFILLAN:

LinkedIn: https://www.linkedin.com/in/petegilfillan/
Website: https://www.hireyourself.com/

CONNECT WITH HIRE YOURSELF PODCAST:

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