Proprietary funding program provides BODY20 with direct access to capital for development
LANSDALE, Pa., Feb. 2, 2023 /PRNewswire-PRWeb/ -- Benetrends, a trailblazing pioneer for franchise funding solutions, has established a new $30 million proprietary funding program, earmarked for their new partnership with BODY20. Thanks to the boutique fitness brand's record-breaking growth and unique positioning in the marketplace, Benetrends determined BODY20 was the perfect choice to become the first designated franchisor to participate in the new funding program. BODY20 will now have the opportunity to provide qualified franchisee candidates with direct access to capital for future development and expansion, positioning the brand as an attractive proposition for banks, lending institutions, and other franchise funders.
"Benetrends is excited to provide BODY20 with critical funding for candidates to purchase their first unit location or for existing franchisees in the system to expand their current operations," said Rocco Fiorentino, CEO Benetrends. "We're pleased to allocate $30 million in proprietary funding for BODY20, as the brand looks to meet their future development goals following record-setting growth in 2022."
BODY20 is a fitness franchisor that utilizes an FDA-cleared Electro-Muscle Stimulation (EMS) wearable suit to revolutionize workouts and unlock the body's full potential. A qualified BODY20 Coach guides participants through one-on-one customized strength and cardio programs in just 20 minutes. The wearable technology helps the body produce over 150 times more muscle contractions than conventional workouts – without the use of traditional gym equipment. The brand experienced record-breaking growth in 2022, with 23 studios now open and dozens more in development – including 20 new signed lease agreements. These recent achievements helped BODY20 earn recognition as one of Entrepreneur Magazine's 2022 Top Emerging Franchises, as well as being named one of Franchise Dictionary Magazine's Top 100 Game Changers.
Chris Pena, founder and president of BODY20, is bullish on the brand's growth in 2023, stating, "This is yet another example of how we are committed to our franchisees - from hiring the absolute best people in the industry, to leveraging strategic partnerships like Benetrends. We understand the importance of ensuring that our franchisees can and will get open successfully." Bob McQuillan, chief development officer of BODY20, believes Benetrend's $30 million proprietary funding program is the way of the future, stating, "Capital access challenges are going to affect every franchise system's unit expansion for the next few years. The days of building relationships with preferred lenders in advance of expected loan applications are gone and we're now experiencing a paradigm shift in the way franchisors and lenders interact. A fund like Benetrends will continue to allow brands such as ours to grow organically, bringing in best-in-class franchisees and operators."
Franchisors and franchisees selected by Benetrends to participate in their new proprietary funding program will benefit in multiple ways - including direct access to capital, a simplified qualification process, a dedicated Benetrends loan officer for turnkey processing, loan proposal preparation in as little as 48 hours, and loan commitments within 10 business days of lender receiving the completed loan package. For more information on Benetrends, please visit http://www.benetrends.com.
About Benetrends:
Benetrends is the authority in franchise and small business financing and is acclaimed for its Rainmaker Plan that enables entrepreneurs to use their qualified retirement plan to purchase, or recapitalize a business or franchise, tax deferred and penalty free. Benetrends originated 401(k)/IRA rollover, funding nearly 30,000 entrepreneurs in the last 40 years. Benetrends provides a comprehensive suite of small business funding options and business service solutions. For more information, please visit Benetrends and connect on Facebook, Twitter, YouTube, and LinkedIn.
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Media Contact
Jeff Cheatham, Benetrends, 1 9729616171, [email protected]
SOURCE Benetrends
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