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SBA Changes Definition of “Small Business”

Starting July 14, the Small Business Administration’s (SBA) new size standards will go into effect, expanding the number of companies defined as a “small business” by approximately 8,500, according to The Washington Post, and making them eligible for SBA financing. The changes adjust for inflation — the first such adjustment since 2008 — and vary by industry, with some being considered small businesses based on total assets or revenue and others on the number of employees. Fortunately for...

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Franchising World - Benetrends and St. Gregory Development Group

Benetrends + St. Gregory

Let us know what you think of our new ad in the June issue of Franchising World. Thank you to St. Gregory for partnering with us! Franchising World June Cover Benetrends + St. Gregory

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Prepare to Grow Your Business: 5 Things You Can Do This Week

Growing your business can be a time-consuming process, but here are five steps you can take this week to put yourself on the track to expansion.  Monday: Analyze Your Current Situation Spend some time analyzing where your business is now. This can include reviewing your bottom-line profit over the last several years, as well as looking into the future to ensure your business will continue to produce the revenue you need to sustain growth. Think about where you want to be in three years. Tuesday:...

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Has Lending Improved?

During National Small Business Week last week, many entrepreneurs and media across the country were discussing the state of small business ownership and growth. According to The White House, the country’s 28 million small businesses are responsible for nearly two-thirds of all jobs. At the end of 2013, franchises accounted for more than 757,000 of the nation’s small businesses and are expected to grow by 1.7 percent in 2014, the IFA reported in its Franchise Business Outlook. Employment in franchise...

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ROBS Provide Value to Aspiring Business Owners

Using retirement funds to purchase a franchise can be valuable to business owners looking for a way to fund their growth, but it’s critical to understand which transactions the Internal Revenue Service (IRS) allows and which it does not. Because of two recent U.S. Tax Court cases, Peek v. Commissioner and Ellis v. Commissioner, funding a business through individual retirement accounts has been scrutinized more closely by the IRS. However, many have been confusing a popular way to fund a franchise...

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Benetrends Announces Sport Clips Haircuts As The Most Recent Franchise To Participate In Proprietary $100 Million Fund

Benetrends has partnered with Sport Clips Haircuts to provide funding through a new $100 million franchise financing program. As the nation's largest franchise dedicated to men's and boys' hair care, Sport Clips Haircuts will receive $10 million in funding to drive its expansion across the U.S. Benetrends' $100 million fund was created to help International Franchise Association franchisor members provide qualified candidates with direct access to capital for new store development. Sport Clips...

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"The Price of Business," an interview with Dallas Kerley on funding options from the Franchise Expo South

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"The Price Of Business," An Interview With Dallas Kerley On Funding Options From The Franchise Expo South Benetrends has been around for 30 years, helping entrepreneurs fund the business of their dreams. We are actually the original architects of a strategy that allows an entrepreneur to use their retirement funds, such as an IRA or a 401(k), 403(b), to purchase their business, tax deferred or penalty free. Now that's interesting, because one of the underpinning philosophy under your various tax...

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Benetrends Client Spotlight: Glory Galucci, Owner of Any Lab Test Now

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Name:  Glory Galucci Opening Date: 2007 Company:  Any Lab Test Now Location:  105 W. NC Hwy 54, Ste. 245, Durham, NC 27713 How has your life experience made you the leader you are today? I have had my share of challenges and success with each one providing something different from which to learn.  I was the first person in my family to go to college so I had to really want it and push for it. However, being brought up by working class parents with no business experience, I became your more...

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Did you know you can use your retirement savings to start a business, tax deferred and penalty free?

Small-Business-Funding

Small Business Funding Your 401(k), IRA or other qualified retirement account can be the key to starting your business debt-free and cash-rich. Benetrends’ exclusive Rainmaker Plan® allows you to utilize the full potential of your existing retirement accounts to purchase your own business, thereby enabling you to eliminate or reduce the need for additional loans. Benetrends Rainmaker Plan® is designed specifically to help you: Save for the future Minimize debt Access business capital Stimulate...

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Retiring To Grow: Benetrends CEO on How Franchisees can Finance Growth

Retiring To Grow: Benetrends CEO on How Franchisees can Finance Growth It's not uncommon for entrepreneurs and business operators today to tap into their 401k or other retirement accounts to seed growth and expansion. This holds true in franchising as well. If you're a multi-unit franchisee considering how you might use your 401(k) to expand your operation you probably have questions. Here is an overview of how the process works, the pros and cons, and legal implications. Benetrends has more than...

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