Also known as Rollovers for Business Start-ups (ROBS), this little-known method of financing allows entrepreneurs to use their retirement funds to invest in a franchise without taking a taxable distribution.
They work like this:
In addition, there are many types of retirement accounts eligible for this structure, aside from 401(k)s: Keoghs, 403(b)s, TSPs, IRAs and SEPs also qualify. The only requirement is that you have current access to the account you want to draw from; so if that account is with your current employer, you’ll need to leave that job before you use those funds.
Also, when you use this method, you have the option of combining retirement funds with that of a spouse or business partner to maximize your total capital. It’s a great way to start a new venture completely debt-free.
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By the end of March 2020, travel halted due to the coronavirus pandemic. As flights were grounded and borders closed, many travelers were forced to cancel or reschedule upcoming trips they had planned months ago—and some were stuck abroad or at sea anxious to get home safely.
Photo credit: Jen Short Photography (https://jenshortphotography.com) Kristen Martyn describes herself as a fifth-generation entrepreneur, so it’s no surprise that she and her husband, Cameron Hogarth, have been successful as owners of a family-owned Wild Birds Unlimited franchise.