1. Latest News
  2. Submit Press Release
  1. PR Home
  2. Latest News
  3. Feeds
  4. Alerts
  5. Submit Free Press Release
  6. Journalist Account
  7. PRNewswire Distribution
BoeFly Logo

BoeFly Selected To Assist Johnny Rockets Franchisees Obtain Bank Financing

Leading classic all-American restaurant franchisor to offer BoeFly’s Platinum Plan and Concierge Services to its franchisees nationwide

 
PRLog - Nov. 28, 2012 - New York, NY – BoeFly, the premier online marketplace connecting small business borrowers with lenders and a strategic ally of the International Franchise Association (IFA) to expand credit access within the franchise community, announced today that The Johnny Rockets Group, Inc., a leading global restaurant chain providing a classic all-American experience, has selected BoeFly to assist its franchisees in obtaining bank financing.

Nearly half (49.2%) of the respondents in a recent survey by the IFA of its members identified “financing/access to credit” as the top issue of concern to franchise business leaders.  In response to this concern, and bolstered by its success in helping many individual franchisees obtain financing, BoeFly created a portfolio of services for the franchisor market. Through BoeFly, they can offer their franchisees access to a network of lenders through the posting of a single loan request on BoeFly’s Internet-based loan exchange, assistance in creating an effective loan request, and support managing lender inquiries. BoeFly uses proprietary matching technology to connect franchisees with lenders to ensure that their loan package meets specific lending criteria, increasing franchise revenue by helping franchisees connect with the capital they need to open their businesses.

Founded in 1986, the Johnny Rockets Group, Inc. is a global restaurant chain known for its simple, great-tasting food from a menu of all-American favorites that includes hamburgers, American Fries, classic sandwiches and award-winning shakes and malts. In addition to 69 restaurants in 17 non-U.S. countries, the brand currently boasts 216 domestic restaurants in 32 states, 23 of which are host to less than five locations.

“There is no doubt that the Johnny Rockets brand has a reputation that is much bigger than our footprint,” stated Tom Cuddyer, Manager of Financial Planning and Analysis for Johnny Rockets. “With restaurants located in amusement parks, on board cruise ships and in the heart of tourist destination centers, around the world, our visibility is very high, but we have a lot of room to grow.  In fact, we currently have a number of exclusive development territories available for franchising, throughout the U.S.”

Cuddyer added, “Through BoeFly, we hope to help our franchise partners efficiently secure financing to help us achieve critical mass in key markets, allowing our company to recognize advertising efficiencies and allowing our guests to enjoy our dancing servers, bright, cheerful ambiance and menu of favorites at home, as well as where they travel to have fun.”

“Today, even top franchisors face a significant challenge – converting otherwise qualified franchisee candidates into ongoing, paying customers because of the difficulty they have accessing capital,” said Mike Rozman, Co-president of BoeFly.  “Franchise lending has been down by as much as 40% in the past two years due in part to the inefficiencies in the lending process that has been exposed by the financial crisis.  BoeFly eliminates these inefficiencies by connecting franchisees with banks that are ready and willing to lend.”

About Johnny Rockets Group

Johnny Rockets first opened, June 6, 1986, on Melrose Avenue, in Los Angeles, Calif., based on the belief that everyone deserves a place where they can escape from today’s complicated world and experience the uncomplicated goodness of classic Americana. Now an international restaurant chain, Johnny Rockets has about 300 corporate and franchise-owned restaurants in more than 30 states and 17 countries, including those found in Six Flags amusement parks and onboard Royal Caribbean cruise ships. Every Johnny Rockets restaurant serves simple, great-tasting food from a menu of all-American favorites, including juicy hamburgers, crispy American Fries, classic sandwiches and rich, delicious shakes and malts. For more information, please visit www.johnnyrockets.com.

About BoeFly

BoeFly makes it easier to obtain small business loans (http://www.boefly.com/) by reducing the time, cost, complexity, inefficiency and frustration associated with small business lending.  Its online proprietary matching technology connects small business borrowers with multiple lenders from among its more than 2,400 participating banks, based on the lending profiles provided by the banks and the information provided in the borrower’s loan request.

Borrowers build a complete decision-ready loan request online using BoeFly’s exclusive “SmartForm” technology which, when completed, provides the information that more than 2,400 lenders nationwide indicated to BoeFly they want to see before moving forward with a loan request. The SmartForm is easy to use and guides borrowers through the process. Once BoeFly’s matching technology identifies compatible lenders, borrowers then have complete control over which lenders can instantly access their loan request.  Using BoeFly, borrowers can connect with multiple lenders quickly and easily, providing a greater probability of obtaining a loan, as well as more favorable loan terms resulting from the creation of a competitive marketplace.   Lenders benefit by being presented with only those loan requests that fit their lending profile, dramatically lowering their cost and time of origination.   BoeFly is not a broker.  Borrowers pay a small one-time fee and lenders pay an ongoing subscription fee; BoeFly never charges transaction or referral fees.

BoeFly, now a strategic ally of the International Franchise Association to expand credit access within the franchise community (http://www.boefly.com/ifa.cfm), offers a Franchise Solution brings these benefits to the large and growing small business franchisee community and is the choice of more than 125 brands including Dunkin’ Donuts, Carl’s Jr., Express Personnel and Kiddie Academy, among many others.

BoeFly’s Affiliate Solution is the financing exchange chosen by the Association of Small Business Development Centers, representing approximately 1,000 centers nationwide, which are funded in part by the U.S. Small Business Administration, to serve small businesses, and Franchise Gator, the leading site for information on franchise opportunities.

BoeFly was founded by small business owners and small business lending experts with extensive small business lending experience. The company is privately-held and is based in New York City. http://www.boefly.com.

Media inquiries:

Bill Fallon | keating/co. | 212.925.6900 | bfallon@keatingco.com

--- End ---

Click to Share

Contact Email:
***@keatingco.com Email Verified
Source:BoeFly, LLC
Location:United States
Industry:Restaurants, Finance
Tags:BoeFly, Johnny Rockets Group, franchise financing, small business loans
Shortcut:prlog.org/12030920
Verified Account Email Address
Verified Account Phone Number

Disclaimer:   Issuers of the press releases are solely responsible for the content of their press releases. PRLog can't be held liable for the content posted by others.   Report Abuse

Latest Press Releases By “

More...

Trending News...



  1. SiteMap
  2. Privacy Policy
  3. Terms of Service
  4. Copyright Notice
  5. About
  6. Advertise
Like PRLog?
9K2K1K
Click to Share