Dreaming of a Franchise but Drowning in Debt? Read This First

June 20, 2025•2 min read

Credit repair is a sketchy loophole.

It’s the real, legal process of cleaning up your credit report by:

Fixing errors
Challenging inaccuracies
Rebuilding payment history
Repositioning yourself for financial approval

And if franchise ownership is your dream?
Credit repair is your first power move.

Because most aspiring entrepreneurs get stopped, not by their ambition, but by a three-digit number on a report.

At ReWired Franchise Advisors, we believe your past shouldn’t disqualify your future.
That’s why we’ve helped people with shaky credit and limited capital take strategic steps toward franchise ownership - and succeed.

Here’s how to make that happen.

Step 1: Repair + Rebuild Your Credit

A strong credit profile is your yes waiting to happen. Whether it's securing funding or negotiating leases, this is your foundation.

The Landscape

U.S. Average Credit Score (2024): 715
Minimum to Qualify for Franchise Loans: 600+
(Better scores = better terms)

Action Steps

Audit Your Credit Report
Check for errors and dispute anything inaccurate.
Make Every Payment Count
On-time payments are the fastest way to rebuild.
Keep Credit Utilization Below 30%
Don’t max out your cards - show control.
Limit Hard Inquiries
Too many applications signal risk to lenders.

Expert Resource: Sebastian Boyer, aka “The Approved Guy”

Sebastian helps aspiring franchise owners bounce back from financial setbacks and build loan-worthy profiles with a step-by-step plan.

Step 2: Start Building Capital (Even If You’re Not Ready Yet)

You don’t need a lump sum overnight. You need a plan to grow into your investment.

Side Hustles That Build Franchise Capital

Average Side Hustle Income: $1,122/month
Median Income: $200/month
Top Hustles: Freelance writing, online tutoring, rideshare driving
(Your time = your seed money)

Budgeting for Your Future

Track Expenses: Know where your money goes
Set Franchise Savings Goals: Automate where possible

Explore Grants & Microloans

SBA Microloan Program (2023):
- $86.4M lent to 5,500+ businesses
- Average Loan: $13,000 | Max: $50,000
Perfect for early-stage franchise funding

Step 3: Think Partnerships, Not Just Solo Journeys

You don’t have to do this alone. Some of the best franchises are built by teams.

14.3% of U.S. small businesses are partnerships
Pool skills. Share risk. Grow faster.

Your credit is a chapter, not the whole story

You might be staring at your credit score, thinking,
"I’m not ready."

Every franchise success story started with a financial hurdle.
What made the difference?
They didn’t stop at the obstacle. They asked: What can I do next?

✅ You can repair your credit.
✅ You can build capital over time.

✅ You can start from wherever you are.
✅ You can find the right partners and funding paths.

At ReWired, we build futures - with plans that work for real people like you.

Calvin & Rhonda McNeely
Franchise Advisors | Dream Builders | Real Talk

Franchise

ReWired Franchise Advisors

ReWired Franchise Advisors was founded in the Tampa Bay area by a husband and wife team – Calvin and Rhonda McNeely, Registered Franchise Consultants with Business Alliance Incorporated (BAI). Together, they have a combined 80+ years of business and franchising knowledge. Calvin and Rhonda have launched, owned, or been part of over 30 businesses, start-ups, and acquisitions ranging from government contracting to light manufacturing and franchising, most notably, Hi-Lite Airfield Services. Hi-Lite was co-founded by Calvin and his dad in 1989 and became a global airfield maintenance and runway contracting company with offices throughout North America, including Hi-Lite Puerto Rico and Hi-Lite Canada. Hi-Lite is still in business today. Calvin was also the co-founder and CEO of Runningboards Marketing (RBM), the first of its kind digital mobile billboard franchise. RBM awarded franchises with 28 digital trucks operating in 12 states. After three years in business, the decision was made to discontinue manufacturing digital trucks and awarding franchises. In addition to Hi-Lite Airfield Services and RBM, Rhonda and Calvin have been owners of Aerogreen Solutions, Rejuvaseal, Cold Stone Creamery, and Cici’s Pizza. Happily married for over 40 years, they have three children and nine grandchildren. They have a strong faith in Jesus and are passionate about serving others and making a difference in people's lives. They understand the challenges and successes of building businesses and have learned valuable lessons from both victories and failures. "We feel blessed to have the opportunity to serve you in your journey to find the right franchise. There are two things we always say—we love helping people become entrepreneurs, and we love supporting people in their marriages."

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