Recap: Alternative Financing Panel & Opportunity in Franchising
Posted on 17. May, 2013
Never before in the history of small business has there been as many opportunities for financing a new business as there are today.
But where does one begin? What is crowd funding? How can I make the most of the alternate financing options available to me?
This morning’s panel “Get your hard hats and start digging! The art of uncovering alternative financing.”
Hosted by Hajj Flemings, Personal Brand Strategist, and CEO/Founder of Brand Camp University, the panel consisted of a virtual who’s who of the alternative funding world. William Michael Cunningham, Social Investing Advisor, Economist, Financial & Investment Analyst, Scott Gerber, Author & Founder of Young Entrepreneur, and Charles Tribbett, Co-Founder of Bolstr.
When people talk about alternate financing, they usually think of Kickstarter or Indiegogo, but as today’s panel members pointed out, there are other tiers and paths to revenue including credit unions, equity exchange, and revenue sharing. Most importantly, attendees were implored to make the most of their financing opportunities, by doing due diligence, research and following upon their campaign.
Panel members walked attendees through recognizing what stage of business their startup is at, deciding between venture capital, angel investors or even credit cards to get started, and developing a sound financial structure.
The next panel focused on the various franchise opportunities available to African-Americans, women and Veterans. Hotels, banks, and fast-food restaurants are just a few of the variety of different franchises out there. But franchises may not be for everyone. Panels members helped attendees identify franchises that match their skill set and needs, as well as the fees, rules, and regulations associated with each brand.
Hosted by Carolyn M. Brown, Black Enterprise’s Senior Multimedia Content Producer, panel members shared their vast knowledge and experience starting, running and investing in a franchise. Wendy’s International Director Cassandra F. Bozeman, Michael Stone, Founder and Executive Director of Professional Athlete Franchise Initiative, Mark Jackson, Liberty Tax Multinfrachise Unit, and Miriam L Brewer, Senior Director of Education & Diversity.