New York, NY, April 15, 2011 --(PR.com
)-- BoeFly, the premier online marketplace connecting lenders with business borrowers, announced today that Planet Beach, a leading spa franchisor, has selected BoeFly to assist its franchisees in obtaining bank financing.
Nearly half (49.2%) of the respondents in a recent survey by the International Franchise Association (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 that their loan package meets specific lending criteria, increasing franchise revenue by helping franchisees connect with the capital they need to open their businesses.
A Planet Beach Contempo Spa is a unique and innovative spin on traditional day spas. Customers pay an affordable monthly membership fee for unlimited fully automated, push-button spa and UV services in private rooms without the need of an attendant. These rejuvenating wellness services include four types of massages, two types of facials, hydration treatments, teeth whitening, guided meditation, oxygen therapy, weight management treatments, UV therapy, airbrush and spray tans and a wide range of skincare and nutrition products all bundled together to help customers achieve their total skincare, wellness and stress relief goals.
“Planet Beach is in a significantly growing segment of the franchise space, but that doesn’t eliminate the need for us to help our franchisees obtain financing,” said Stephen Smith, Founder and CEO of Planet Beach. “We see BoeFly as an emerging opportunity to provide this assistance, by making it easier for our franchisors to connect with lenders.”
“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, 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 have been exposed by the financial crisis. BoeFly eliminates these inefficiencies by connecting franchisees with banks that are ready and willing to lend.”
About Planet Beach
Planet Beach® (www.planetbeach.com) A leading provider of wellness and beauty services and the creators of the full-service Contempo Spa™, Planet Beach was founded in New Orleans, L.A. in 1996 and currently has more than 300 franchise locations worldwide. The company is revolutionizing the spa industry by offering convenient, affordable and self-automated spa services, along with a number of premium skincare and nutrition products. Consistently recognized as one of the world’s top franchises, Planet Beach has established itself as a dedicated and ambitious provider of total skincare, wellness and stress relief services. For franchise information, call 888-290-8266.
Planet Beach taps into two key wellness trends: stress-reduction treatments and wellness products. A Planet Beach Contempo Spa is a neighborhood wellness center, a one-stop, membership spa that provides unlimited access to services for a monthly fee.
BoeFly is the only online marketplace harnessing technology to dramatically simplify the execution of commercial transactions, including all loan origination and sales. BoeFly revolutionizes how deals get done by seamlessly connecting all parties, including lenders, borrowers, franchisors, investors, buyers and sellers to a potential transaction and facilitating the efficient completion of these transactions. For small business lenders, BoeFly also provides the ability to sell loans to investors freeing up liquidity for even more small business lending. BoeFly is a subscription service and does not charge any transaction fees.
Key to the success of BoeFly is the site's dynamic compatibility technology and comprehensive Smartform loan application which matches parties based on a specific set of criteria. Also, to help BoeFly subscribers complete transactions, BoeFly offers online access to service providers in a wide variety of professions from appraisers, to closing attorneys, to environmental consultants.
BoeFly was founded by small business lending experts with extensive banking and secondary market experience. The company is privately-held and is based in New York City. www.boefly.com. Franchisors seeking to grow revenue by increasing the number of successfully financed franchisees please visit www.boefly.com/franchisor.