How much extra cash do I need to cover living expenses while I’m starting my franchise?

Franchise is not a get quick rich scheme. It is all about building business with expert support. You need to give some time before you expect earning covering your expenses.

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This is one of the critical areas many new franchisees fail to consider. After becoming a franchisee, there’s a gap in time before your new business begins operation and typically another gap before it starts making enough profit to cover your living expenses. You need to carefully budget your living expenses to understand how much you’ll need on a monthly basis and then make sure you’ve got sufficient cash–in addition to your business investment–to cover your expenses during this period. Then add a significant reserve on top of this amount–it’ll help you sleep better at night.