How do Lendio franchisees 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 many Lendio franchises are there?
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.
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.
What franchise has the best return on investment?
Most Profitable FranchisesDunkin'7-Eleven.Planet Fitness.JAN-PRO.Taco Bell.Orangetheory Fitness.Great Clips.Mac Tools.More items...•
Is Lendio a good company?
Big-name funding partners include Kabbage, OnDeck, Amex, and Fundbox. For those who want to try it, Lendio is undoubtedly worth the effort. Customers report that Lendio's customer service is responsive and helpful, and the application process is fast and easy.
Where is Lendio based?
LendioLendio logoIndustrySmall business loansHeadquartersSouth Jordan , United StatesKey peopleChad Iverson, COO Ben Davis, Chief Revenue OfficerWebsitewww.lendio.com3 more rows
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.
Is lendio loan good for PPP?
Lendio is not a lender, and an application submitted through Lendio does not guarantee you will receive a PPP loan or be matched to a lender. We will accept applications throughout the program or until allocated funds for the program have been exhausted.
How do I contact lendio?
Talk to a rep at (855) 853-6346.
What is the highest paying franchise?
Top 14 Most Profitable FranchisesMcDonald's. Units in operation: 39,360. ... Dunkin Donuts. Units in operation: 12,800. ... Taco Bell. Units in operation 12,800. ... Subway Franchise. Offers Financing: Yes. ... Anytime Fitness Franchise. Units in operation: 4,904. ... Sonic. Royalty: 2.5% - 5.0% ... Planet Fitness. Royalty 7.0% ... Orangetheory Fitness.More items...
What is the best and cheapest franchise to open?
What are the cheapest franchises to buy?Cruise Planners. Franchise fee: $10,995. ... Jazzercise. Franchise fee: $1,250. ... Help-U-Sell Real Estate. Franchise fee: $15,000. ... United Country Real Estate. Franchise fee: $8,000 to $20,000. ... Stratus Building Solutions. ... Anago Cleaning Systems. ... JAN-PRO. ... Dream Vacations.
Is it smart to buy a franchise?
If you're a fledgling entrepreneur or a seasoned business person wanting to diversify your holdings, you've probably wondered, “Are franchises a good investment?” The simple answer is yes, especially if a great opportunity presents itself. There is an obvious appeal to starting a business via buying a franchise.
How long does it take for a franchise to become profitable?
One common misconception when it comes to operating a franchise is that once you sign on the dotted line and open for business, the customers and revenue will start flowing. This is typically not the case. It normally takes a year or two to become profitable.
Is it profitable to own 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 a good failure rate for a franchise?
IFA surveys suggest that, in the USA, 92% of franchise businesses are still operating after 5 years. This is compared to an 80% national small business failure rate.
How much does a 7 Eleven franchise owner make?
The estimated total pay for a Franchise Owner at 7-Eleven is $140,208 per year.
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.
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.
Request Information
Complete the form below to get more information, including estimated costs to open and operate this franchise.
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...
Why Lendio?
Low Investments: Many traditional franchises require $250K+ in liquid capital, Lendio only needs $5K–$65K
How does Lendio work?
Lendio is fueling the American dream by helping small business owners secure loans through their marketplace of 75+ lenders. Lendio connects entrepreneurs to the right lender that fits their needs to help them secure funding and grow their business.
What is a loan from Lendio?
Lendio is a free online service that helps business owners find the right small business loans within minutes. With a network of over 75 lenders offering multiple loan products, Lendio’s marketplace is the center of small business lending. As a Lendio franchisee, you’ll help small business owners find the lending option they need by leveraging Lendio’s business loan marketplace.
What is footprint flooring?
Footprints Floors is a unique flooring franchise where Footprints Owners work directly with homeowners looking for floor repair, and then hire subcontractors to perform the flooring installation and restoration. There is no rent, build out or HR costs making Footprints Floors a simple, efficient, and cost effective franchise.
How many states does AtWork operate in?
AtWork is a national staffing franchise that stands as one of the largest providers of contingent and permanent workforce solutions in the country. They operate in 27 states with over 98 franchises and have helped entrepreneurs reach their dreams of financial freedom through business ownership. Their optimal training has generated annual revenues of over $250M across all franchises.
How long is the territory training?
We provide a 40-hour, in-person classroom training upon purchase of a territory. We have a support team of 20+ to assist with business growth planning, deal processing, partnerships, and marketing.
Is Lendio a franchise?
Lendio is listed in the Franchise Directory under the Business Services category and the Home Based category. It's also listed in the section for Franchises Under $60,000 .
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.
What is Anytime Fitness?
Anytime Fitness uses a unique business model where people can work out at any point during the 24-hour day. This is ideal for people who work late-night shifts, like nurses or janitors, or those who are awake at all hours of the night. Many locations have minimal staffing, and members are able to unlock the door with a key or passcode. This cuts down on operating costs like employee salaries.
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 is cleaning service?
Cleaning services bring employees into others’ homes and businesses rather than convincing customers to visit their brick-and-mortar stores. This means your physical location becomes your hub of operations to send employees into the community.
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.
Is 7-11 a gas station?
Not only is 7-Eleven a trusted convenience store and gas station for travelers—making it a valuable investment if you want to open near an interstate or in a tourist area—but the convenience-shopping component makes it desirable for urban areas, too.
Who is Derek Miller?
Derek Miller. Derek Miller is a writer specializing in entrepreneurship, small business, and digital marketing. His work has featured in sites like Entrepreneur, GoDaddy, Score.org, and StartupCamp. He’s currently the CMO of Smack Apparel, the content guru at Great.com, and a marketing consultant for small businesses.
How to Qualify for a Lendio Business Loan
Since Lendio isn’t a lender itself—rather, they connect you with lenders—the qualifications for a business loan vary depending on the specific lender it connects you with. However, looking across all of their lenders, here are some of the qualifications that you might need to meet:
How to Apply for a Lendio Business Loan
You can fill out an application to be matched with a lender through Lendio’s website, which only takes a few minutes. Lendio will generally reach out to you within a day or two to discuss your options and help facilitate your application with a specific lender.
Methodology
We reviewed Lendio based on 16 data points in the categories of loan details, loan costs, eligibility and accessibility, customer experience and the application process. We rated Lendio based on the weighting assigned to each category:
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