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It costs an average of $2.3 million to open a franchise business. Use this checklist to make a funding plan to pay for it.

It costs an average of $2.3 million to open a franchise business. Use this checklist to make a funding plan to pay for it.


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Franchising is a way to become a business owner without having to build a brand from the ground up.




The convenience does come at a cost however, with a typical investment of $2.3 million to get started.




Business Insider compiled this checklist of key considerations, based on conversations with experts, analysis of numerous franchise disclosure documents, and prior reports.




Visit Business Insider's homepage for more stories.


Investing in a franchise business is one way to become a business owner without building a new brand from the ground up, but that convenience can be expensive.A recent Frandata analysis of more than 1,100 brands found the median initial investment in a new franchise business was more than $2.3 million.In addition, the experts found that even though many franchisees rely on the US Small Business Administration for funding, the limited amount available for guaranteed loans accounts for just 20% of the total needed.To help prospective business owners navigate the challenges of financing a new franchise business, Business Insider compiled this checklist of key considerations.
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