Wife and I are highly considering getting into a franchise and may or may not obtain financing for the first location. We've built a nice nest egg and don't want to risk it in the event the business fails. We are setting up an LLC to protect personal assets but I don't want to sign a personal guarantee.
The first location will cost roughly $350,000 and we are considering a down payment of $150,000. How much money do I have to put down to avoid the personal guarantee?
I've got a over $2M saved up and I don't want to risk it because this business venture goes belly up.
Thanks in advance. GBR!
The first location will cost roughly $350,000 and we are considering a down payment of $150,000. How much money do I have to put down to avoid the personal guarantee?
I've got a over $2M saved up and I don't want to risk it because this business venture goes belly up.
Thanks in advance. GBR!
