Most franchises require a minimum of $250K in liquid capital. Lendio only requires $55K-$65K to get started. No complex real estate vetting, expensive rent, POS system, utilities, or employees required. Lendio franchise owners are paid a generous commission split of up to 70%.
Full Answer
What sold me about buying a Lendio franchise?
How much commission does a Lendio franchise owner get?
Is Lendio a franchise?
Does Lendio give veterans 10% off?
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About this website
How does a lendio franchise make money?
How do I earn my income as a franchise owner? You earn income by finding small business owners in need of a loan and helping them get funding through Lendio's platform; once funded you earn commission on the loan you helped facilitate.
How much income does a franchise owner make?
The Numbers According to a survey done by Franchise Business Review involving 28,500 franchise owners, the average pre-tax annual income of franchise owners is about 80,000 dollars.
How many franchises does lendio have?
By using Lendio, business owners usually have access to dozens of lenders and assistance in picking the best one for their company. Lendio was founded in 2011 by Brock Blake and Trent Miskin and began franchising in 2016. Since then, it has grown to over 60 franchises located throughout the United States.
How profitable is opening a franchise?
Buying a franchise might seem like easy money, but those royalties and fees will quickly cut into profit margins. The majority of franchise owners earn less than $50,000 per year.
What is the most profitable franchise to own in 2022?
Most Profitable FranchisesDunkin'7-Eleven.Planet Fitness.JAN-PRO.Taco Bell.Orangetheory Fitness.Great Clips.Mac Tools.More items...•
Which franchise makes the most money?
What is the most profitable franchise to own? According to the Franchise 500 list of 2021, Taco Bell is the most profitable franchise to own. The food chain has been franchising for nearly 6 decades and is still seeking franchises worldwide. As of 2021, they have 7,567 open units.
Who owns lendio?
Brock BlakeBrock Blake is the CEO and co-founder of Lendio, the nation's leading small business finance solutions provider. Brock believes that access to capital should be simpler and quicker for small business owners, and he's built a successful company around solving this problem.
Is lendio legitimate?
Lendio is a legitimate company; however, they do not actually offer loans. They are a third-party lending partner, connecting lenders with businesses.
When was lendio founded?
2011Lendio / FoundedLendio was founded in 2011. Co-founders Brock Blake and Trent Miskin saw small businesses struggling to get the financing they need to grow and run their businesses.
What is the failure rate for a franchise?
Coincidentally when I was with NatWest I managed the survey for the last 22 years. Pretty much every year the survey has been conducted has shown between 8-12% of franchise businesses left their franchise each year. This is for a variety of reasons, including retirement, selling, ill-health and financial failure.
Is owning a franchise passive income?
Using the definition above, yes, a franchise can definitely be passive income! In fact, many franchises are set up with the goal of passive income in mind. That's why some franchisees end up owning multiple locations of the same franchise, with a separate staff and minimal oversight to run each one.
Do franchise owners make good money?
Franchise Business Review found that the average annual pre-tax income of franchise owners in America is $80,000. Only 7% of franchise owners make more than $250,000 annually, and 51% earn less than $50,000. Legally, franchisors cannot give income amounts or forecasts of future income.
Do franchise owners make good money?
Franchise Business Review found that the average annual pre-tax income of franchise owners in America is $80,000. Only 7% of franchise owners make more than $250,000 annually, and 51% earn less than $50,000. Legally, franchisors cannot give income amounts or forecasts of future income.
How much do 7 Eleven franchise owners make?
The average salary for a Franchise Owner is $68,201 per year in United States, which is 51% lower than the average 7-Eleven salary of $140,208 per year for this job.
Is owning a franchise a full time job?
Buying a franchise doesn't have to mean making a full-time commitment. Believe it or not, there are many franchises that can be run on a part-time basis, especially when you first start out.
What percentage do franchise owners make?
Franchise royalties range from 4% of your revenue all the way up to 12% or more. The amount has to do with the type of franchise business. For example, a food franchise is a high-volume business. A lot of individual items are purchased by a high-volume of customers.
Lendio Franchise Costs & Fees
Lendio makes business loans easy by helping small business owners skip the leg work of looking for a small business loan.Instead of filling out dozens of applications, one application is all they need. As a Lendio Franchisee you will be able to help small business owners find the loan they need to grow their business by leveraging Lendio’s business loan marketplace.
lendio Franchise Review | FranchiseGrade.com
How much does a lendio franchise cost? Are there any lendio franchise opportunities near me? Here are the answers to some of the most frequently asked questions about lendio franchises.
Lendio stock price, funding rounds, valuation and financials
Lendio has raised $82.5 m in total funding. View Lendio stock / share price, financials, funding rounds, investors and more at Craft.
Lendio Business Loan Marketplace Review For 2022 - Merchant Maverick
Lendio Review: Business Loan Marketplace. Lendio does not originate loans directly, but its network of over 300 business funders is designed as a one-stop-shop for financing.
About Franchise
Lendio makes business loans easy by helping small business owners skip the leg work of looking for a small business loan. Instead of filling out dozens of applications, one application is all they need.
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Background
Lendio is the nation's largest small business loan marketplace. It provides a one-stop shop for thousands of entrepreneurial spirits looking for the capital they need to start, operate, and grow their businesses. As a Lendio Franchisee, you'll champion that very same model with your small business network on a local level and enjoy perks like:
Support and Training Offered By Lendio
Financial Assistance Provided: We do not finace but can get them in touch with some lender who do Site Selection Assistance: NA Lease Negotiation Assistance: NA Recruiting Assistance: NA Cooperative Advertising: No Training: Our franchisees enjoy an intensive 5-day training with our team at the corporate headquarters in Utah.
Franchises Similar to Lendio
The International Franchise Professionals Group (IFPG) is an internationally recognized membership-based franchise organization. IFPG Franchise Consultants guide aspiring business owners through the process of identifying and investing in franchise businesses. The IFPG represents more than 550 franchises.
What sold me about buying a Lendio franchise?
The number one thing that sold me on buying a Lendio Franchise is Lendio's disruption of an industry. I'm convinced I didn't pay enough for this business.
How much commission does a Lendio franchise owner get?
Lendio franchise owners are paid a generous commission split of up to 70%.
Is Lendio a franchise?
The hype surrounding Lendio is more than just talk. We’re an industrious, dedicated, and cutting-edge franchise that consistent ly earns special awards and recognition. We’re driven to grow and to help small business owners around the country.
Does Lendio give veterans 10% off?
We appreciate all U.S. veterans for their service. Lendio offers 10% off with proof of military service.
How Much Does It Cost To Open A Lendio Franchising Franchise?
There are several costs associated with opening a Lendio Franchising franchise. There is typically a franchise fee set by the franchisor, which covers the costs of opening a franchise location. Some other commons fees include equipment fees, marketing fees, licensing fees, insurance, and taxes, to name a few.
Is Lendio Franchising Right For You?
Lendio Franchising has gone digital! Here are all of the ways you can find Lendio Franchising online. Oftentimes, you can reach out to current franchisees of Lendio Franchising online. Current franchisees may be able to offer personalized insights into what it is like owning a Lendio Franchising franchise and offer tips to running a successful Lendio Franchising franchise location.
How does a loanio franchisee help small business?
As a Lendio Franchisee you will be able to help small business owners find the loan they need to grow their business by leveraging Lendio ’s business loan marketplace. By helping your clients complete a single application, they will be reviewed by over 75 lenders, taking the headache of loan applications out of the equation!
What is a loanio?
Lendio is a company that matches thousands of small businesses with the financing needed to grow, recharge and thrive. It is an online marketplace, akin to Kayak, AirBnb or Yelp, but for small business loans. It's as simple as owners filling out an application and receiving access to mo...
More from Lendio
Lendio makes business loans easy. All it takes is 15 minutes to fill out our small business loan application. It’s online, easy to use, and provides access to real offers from a marketplace of lenders. That means no more shopping around at banks or mountains of tedious paperwork.
Franchising Overview
This company is seeking new franchisees in the following US states: Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, District of Columbia, Delaware, Florida, Georgia, Hawaii, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, North Carolina, North Dakota, Nebraska, New Hampshire, New Jersey, New Mexico, Nevada, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Vermont, Washington, Wisconsin, West Virginia, Wyoming.
Information for Franchisees
Here’s what you need to know if you’re interested in opening a Lendio franchise.
Financial Requirements & Ongoing Fees
Here’s what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
Franchise 500 Ranking History
Compare where Lendio landed on this year’s Franchise 500 Ranking versus previous years.
How much does it cost to open an Anytime Fitness franchise?
Anytime Fitness franchises pay a flat monthly fee of $699, which lowers the expected cost to join. You can expect to pay between $59,000 and $520,000 to open your location.
Why do entrepreneurs favor franchising?
Many entrepreneurs tend to favor franchising a business because of the brand equity and support built into that business model. Consider the first Chick-fil-A to open in New York City in 2015.
How much does it cost to open a great clip?
The franchise fee to open a Great Clips is $20,000, with estimated startup costs ranging between $137,000 and $260,000.
What sold me about buying a Lendio franchise?
The number one thing that sold me on buying a Lendio Franchise is Lendio's disruption of an industry. I'm convinced I didn't pay enough for this business.
How much commission does a Lendio franchise owner get?
Lendio franchise owners are paid a generous commission split of up to 70%.
Is Lendio a franchise?
The hype surrounding Lendio is more than just talk. We’re an industrious, dedicated, and cutting-edge franchise that consistent ly earns special awards and recognition. We’re driven to grow and to help small business owners around the country.
Does Lendio give veterans 10% off?
We appreciate all U.S. veterans for their service. Lendio offers 10% off with proof of military service.
