2020 BirthdayPak Franchise Cost | BirthdayPak Franchise Fee | Use Your 401k to Start a BirthdayPak Franchise Business | SBA Business Loan

2020 BirthdayPak Franchise Cost

How much does it cost to open a BirthdayPak Franchise? [Updated 2020]

Are you considering opening a BirthdayPak Franchise?  If so, it will be essential to understand the costs & fees and how you will pay for those expenses.  This article highlights some key expenses to start a BirthdayPak Franchise.  It also describes how you can fund those expenses using an SBA Business Loan and/or your retirement funds without paying tax or penalties.

The cost to start a BirthdayPak Franchise will include the following:

  • Total Investment: The total investment necessary to begin operation of a “BirthdayPak Franchise” franchise ranges from $29,500 – $144,700.
  • Initial Fees:
    • Initial franchise fee: $24,000 – $49,000

How can My Solo 401k Financial help me fund a BirthdayPak Franchise?

My Solo 401k Financial has helped thousands of entrepreneurs with franchise financing.  We specialize in helping franchisees use their retirement funds without paying taxes or penalties as well as SBA business loans.

Obtain an SBA Loan for a BirthdayPak Franchise

Use Your 401k to Start a BirthdayPak Franchise

If you an aspiring entrepreneur looking for financing to open a BirthdayPak Franchise, you may want to consider using our ROBS 401K Business Financing plan which allows you to invest your retirement funds in your business without paying taxes or penalties.

Benefits of Using Your 401k to Start a Business

  • You can invest all of your retirement funds in the business without paying taxes or penalties. If you were to withdraw the funds from your retirement account, you will have to pay a 10% penalty (if you are under 59 ½) and income tax which often leaves only 60% or less of the amount withdrawn available to fund your business.
  • The funds invested in your business do not have to be paid back to your retirement account (i.e., it is not a loan).   With no repayment obligation, the business is able to keep more of the income in the business which can be very important to a growing startup business. Moreover, by investing your own funds you are able to independently fund your business and retain ownership and control.
  • There is no credit check required to access your retirement funds.
  • The funds are typically available for business financing in approximately 15 business days.
  • Other than Roth IRA accounts, funds in virtually all types of retirement accounts are eligible including 401k, Traditional IRA, pension plans, government plans, etc.

Using Your 401k to Start a Business – Process

Step 1: File Articles of Incorporation with the Secretary of State.

Step 2: Obtain Corporation and 401k employer identification numbers (EIN).

Step 3: Open business bank account for the C-corporation.

Step 4: The C-corporation adopts new 401k plan.

Step 5: Transfer funds from your existing 401k, IRA or other retirement account to the new 401k.

Step 6: Fund the Corporation with the new 401k proceeds.

Using Your 401k to Start a Business – Resources

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About George Blower

I have the privilege of educating our clients about our products and services so that they can make informed and confident decisions about their financial future. Prior to joining My Solo 401k Financial, I served as the general counsel for a subsidiary of a Fortune 500 financial services company. Learn more about George Blower and My Solo 401k Financial >>