Open a franchise – with comparethefinancialmarkets.com
Start-up businesses require investment and capital; to buy equipment, secure an office/unit or to pay for miscellaneous items.
Anyone who is looking to open a franchise has to consider a myriad of costs – from buying the licensing rights, to covering the business set up and operating costs.There are thousands of franchise opportunities out there. Selecting the one that suits your skill set, and your budget, is made easier by talking to the experts at Compare The Financial Markets.
Open a franchise – banking options
There are many opportunities to open a franchise, especially for investors who have upward of £350,000 to inject. If you are looking to open a franchise, a franchise specialist bank is the best option for discussing investment.
They assess franchise opportunities, evaluate franchises, and monitor the ongoing performance of franchisees. Preferential terms are often available, particularly for well-established and proven franchise opportunities, whereas banks without franchise units ordinarily treat franchises in the same fashion as a new, independent start-up enterprise.
Open a franchise – level of finance
The level of finance available to open a franchise, from a franchise specialist bank, depends on the strength of the franchise – and your business plan.
To open an established franchise, a bank will ordinarily lend up to 70% of the total start-up expenditure, including working capital. To open a less proven franchise, you can expect a smaller investment.
To open a franchise the bank will certainly require security for the loan, usually a residential property, with sufficient equity.
Open a franchise – additional methods of finance
The Government-backed Enterprise Finance Guarantee Scheme is for investors looking to open a franchise, who lack the usual security requirements, but only in conjunction with a strong business proposal.
A bank’s Franchise Unit can discuss whether you qualify for finance to open a franchise under this initiative.
Banks will require a strong business plan to consider financial support for your business. You must be able to demonstrate an understanding of your chosen market, and the ability to meet the financial commitment you are undertaking.
There are thousands of UK franchise opportunities available, so careful consideration is a must.Talk to the experts. Apply online now.
As with any business start-up, adequate finance is required, not to mention an in-depth knowledge of the sector, and the potential pitfalls and stumbling blocks. Thorough research is an absolute must and professional advice is invaluable.
At Compare the Financial Markets we understand the franchise business and can provide the information you require to make a success of your franchise choice.
Enter your details below to find the right franchise opportunity for you