CHAPTER 13Capital Formation Strategies
One of the most difficult tasks faced by the leadership team of a growing franchisor is the development and maintenance of an optimal capital structure and access to the resources needed to stay strong and to execute its growth plans. Access to affordable debt and equity capital continues to be a problem for franchisors, even though franchising has matured as a viable method of business growth.
Only recently have the investment banking, private equity, venture capital, and commercial lending communities given franchising the recognition it deserves. There are finally enough franchisors with respectable balance sheets who have participated in successful public offerings, who have played (and won) in the merger ...
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