There are several common ways to finance the startup of your Modern PURAIR® Franchise. Some of the most common include:
- Personal savings: Many entrepreneurs use their own savings to finance the startup of their business. This can be a good option for those who have the financial means to do so and want to retain full ownership of their business.
- Small business loans: Most financial institutions in Canada offer loans specifically for small businesses. These loans can provide the necessary capital to start a business and often have favourable terms, such as low interest rates and flexible repayment schedules.
- Government grants and programs: The Canadian government offers various grants and programs to support the development of small businesses. These can provide funding for specific projects or initiatives, and can help entrepreneurs get their business off the ground. Changes to the CSBFL Program in Canada have helped improve this option for entrepreneurs.
- Family and friends: Family and friends can be a great source of financing for aspiring entrepreneurs who have a network of people who believe in them and have the ability to provide financial support.
In conclusion, there are several common ways to finance the startup of your Modern PURAIR franchise in Canada, including personal savings, small business loans, government grants and programs, and family and friends. Entrepreneurs should consider these options and choose the one that best fits their needs and circumstances.