The news of Amazon’s withdrawal from a deal to open a new campus in New York City opened a number of business opportunities for people ranging from commercial real estate investors specializing in luxury apartments to storage facilities, and everything in between. Brooklyn and Queens are now seeing a number of emerging franchise owners entering the arena to offer products and services catering to the influx of residents and employees coming to NYC.
Property for Franchises in NYC
There is certainly property available for emerging franchise owners. The current commercial real estate climate in NYC means the price of commercial real estate is encompasses a wide spectrum. Newly created Opportunity Zones are meant to encourage businesses and rental structures, but as of now, no one knows if franchises fall into the list of accepted usage. Sections of Brooklyn which were once residential are being re-zoned to commercial, offering viable opportunities for franchise owners to get in on the ground floor before prices start to skyrocket. And of course, there is always the option of purchasing an existing franchise. In all cases, emerging franchise owners can find private lending programs to cover the cost of acquisition and renovation.
Building Up and Out
Most franchises require some form of construction, either build-outs to existing structures or completely new ground-up construction according to the franchisor’s specifications. Franchise owners should be aware that major construction requires ongoing financing to ensure projects keep moving forward without delay and stay on track so the franchise can open and start generating revenue. Construction loans and build-to-suit financing solutions are ideal, especially for first-time franchise owners looking to launch operations in NYC
Build-to-Suit Franchise Financing
Build-to-Suit financing is an alternative to traditional loans. Build-to-Suit financing assists with acquisitions, construction, equipment, and even renovations and working capital. The fast closing times and favorable terms mean franchise owners in NYC can get the funding they need, when they need it. At Express Capital Financing, we specialize in Built-to-Suit solutions for entrepreneurs throughout New York City. If you are one of the emerging franchise owners looking to take advantage of the many lucrative opportunities opening up in Queens, Brooklyn, or Manhattan, contact the experts at Express Capital Financing today.