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Hot Stuff Foods is offering a new financing program that allows new and existing franchisees to get money quicker to launch, expand or remodel their stores.
The program, executed through an alliance with Direct Capital Corporation, expedites both credit processing and funding. An application for financing can now be processed in as little as 15 minutes to a few days depending on credit history and funding can begin the same day the application is processed, according to Des Hague, president and CEO of the Sioux Falls, S.D.-based company that franchises and/or licenses its branded food concepts in more than 1,600 locations in the United States, Canada, Europe and Asia.
"Helping our retailer partners finance their foodservice growth as easily as possible is simply a good business decision," Hague said. "Our franchisees have already opened more than 150 new locations this year, as well as upgrading over 200 existing locations. We want to keep this momentum going and this new financing program is one more way to say – 'We believe in you and are willing to invest in our collective future.'"
The new program also offers financing up to $150,000 without financials; deferred payment up to 90 days, seasonal payment structures; financing for soft costs such as installation, training, shipping and taxes; and extended term financing up to 60 months.
Jim Broom, CEO of Direct Capital, said the new financing package provides franchisees immediate access to capital to launch, expand, or remodel their stores in the most affordable fashion possible. Additional pros are tax benefits, increased cash flow for daily operating expenses and establishing a business credit history.
"We want to help each franchisee achieve and sustain profitability as quickly as possible and this program will be a major asset to achieving that goal," Broom said.
Hot Stuff Foods also announced that it has partnered with over 350 convenience stores since the start of this year to open new franchises or expand/upgrade an existing unit. Additionally, every one of the new units has added Hot Stuff Foods Market Selects sandwiches and subs -- the company’s newest offering.
"With gasoline prices continuing to escalate," said Hague, "retailers are looking for ways to drive customer traffic. Innovative quality foodservice is more essential than ever. Every one of our new food solutions has been developed to offer superior food quality and taste while at the same time minimizing excess labor."
Hot Stuff Foods offers individual and bundled brands including Hot Stuff Pizza, Hot Stuff Food On the Go, Hot Stuff Food Xpress, Smash Hit Subs, Summit Subs, C-Street Bakery, Mean Gene’s Burgers, Mean Gene’s Pizza, Stone Willy’s Pizza, Moose Bros. Pizza, Eddie Pepper’s, Asian Creations, Chix Chicken, Nap Hendrix’s Southern Grill and Caffé Origins Coffee.