If you want to run your own business but do not want to risk starting a whole new company from scratch, you may want to purchase a franchise instead. Franchises already have established brand names, so drawing in customers should be fairly straightforward. There is also lots of room for franchises to grow over time.

Unfortunately, franchises can also be quite expensive. Unless you have a ton of money in your savings account, you will probably have to secure funding from outside sources. Here are four tips for funding franchises.

1. Research Government Programs

The government offers some individuals grants or other forms of financial assistance. Military veterans, in particular, may qualify for VetFran, which provides vets with funding for franchises. The program also offers discounts on certain expenses and fees.

2. Ask Your Franchisor

Most franchises have a financing specialist who assists potential franchisees. While your franchisor likely will not pay for the entire cost of the business, you could get up to 75 percent of the money you need. The franchisor may alternatively offer to pay for specific expenses, such as operating costs or equipment.

3. Sell Yourself

If you do not qualify for grants and your franchisor will not provide the funding, you may have to locate your own funding. Investors and lenders are often willing to put their money into franchises. However, you must convince these people that your franchise is worth the investment.

You will likely have to present your ideas to potential investors. Start by showing the investors that the franchisor has a strong and successful concept. You can use the documents and charts you received from the franchisor.

People do not only invest in ideas, however. They really invest in other people. You must therefore sell yourself to the individuals interested in potentially financing your business. Do lots of research so you will be prepared for any questions the possible investors have. You should also emphasize your unique skills and strengths.

4. Perform Your Due Diligence

You should also do plenty of research before accepting money from an organization or person. You do not want to sign a contract because you are desperate for funding, only to find out that the deal could hurt your business down the line. Read the fine print before signing anything, and do not feel pressured to accept the first offer you receive.

Finding funding for your franchise is a tough but not impossible challenge to overcome. The above steps should help you get the money you need.