FranFund is a Rollover as Business Startup (ROBS) provider and a total funding solution for franchising and small businesses. They will help you in the process of taking out money from your 401(k) and investing it in your business or using it to start/franchise a new one. We compiled FranFund reviews from around the web to determine what their customers think about the company.
For an in-depth comparison of three top ROBS providers, read our buyer’s guide.
Overall Experience: Good
Customer Service/Reliability: Good
Summary of FranFund Reviews
We looked around the web and found that FranFund has mixed ratings. Here’s what we found:
What FranFund does well:
Their services are a great choice for aspiring franchisees due to their experience in the area. 96% of their clients start or buy a franchise.
What FranFund does not do well:
They are a bit new to the game and do fewer ROBS transactions in a year than other ROBS service providers.
Most Helpful Positive User Review
One positive reviewer on Facebook called FranFund a “true business partner” and raved about its great customer service. He said the employees he worked with guided him well all throughout the process, and took away all the stress he would’ve endured as he built his franchise.
Most Helpful Negative User Review
A negative reviewer on Yelp didn’t like that there were so many upfront and ongoing fees. She said the fees continued even after she stopped using their services, and that the possible increase of tax penalties in the long run wasn’t worth it. She considers choosing FranFund an “expensive mistake”.
FranFund Pricing and Fees
|Initial Setup Fee|
|Wait time for funds|
|Audited plans in 2016|
|# of ROBS disqualified after audit|
|Will the firm help in the case of an audit?|
|Pre-ROBS outside counsel|
|Outside counsel in case of an audit|
|Annual number of ROBS|
FranFund has some of the lowest upfront and ongoing fees among ROBS providers. Their fees are billed annually though, which means if you decide that you no longer need their services before a year is up, you will still pay for the months you have left.
Outside counsel is not included in the contract both for before you apply for a ROBS and in the event of an audit. However, FranFund does say that they can offer legal and professional tax help if they feel like you need it during the auditing process.
Compare FranFund Competitors
Not sure if FranFund is the right choice for you? Check out our ROBS buyers guide.