When it comes to starting a franchise, we seek to provide prospective franchisees with as much information as possible about the various steps involved in setting up your business, as well as showcasing the best of UK franchise opportunities.
One of the biggest factors in starting a franchise is the financial decision. As part of this, ensuring that your business plan allows both the initial investment and the start-up phase to be adequately financed is extremely important. It is no surprise that few people have sufficient resources to fund both the initial investment and start-up phase out of very deep pockets, so some kind of funding is usually required. So what are the options?
We asked Chris Roberts, Qualified Franchise practitioner, and Business Development Director at Franchise Finance to advise on what kinds of franchise are available.
Franchise Finance write professional business plans, arrange finance and deliver financial training through their Business Training Academy, so Chris is very well placed to give excellent advice!
Chris Advises:
"Starting out on your franchising journey is incredibly exciting. When it comes to capital, few people find themselves in the position to comfortably self-fund the entire start up amount of a franchise business, so for many, additional funds need to be raised.
The great news for franchising is that the days of having just a couple of lending options are long gone! Accessibility and availability have significantly changed in recent years, meaning a variety of options are available to you, which include:
It’s important to take your time when considering the most attractive options available. One or a number of these options may be appropriate for your given circumstances.
Some more good news is that lenders love franchising. Why do lenders love franchising? A proven business concept gives lenders great confidence. Lending decisions are based on risk, therefore a franchise concept has the potential to be very attractive to an array of potential lenders."
Chop & Wok provide you with the opportunity to run your own traditional Takeaway Pan Asian Food Franchise.
With the Concept Claim Solutions Franchise you can run your own specialist Insurance Management Business earning a six figure income!
Manage your own lucrative Fire and Secruity Business with the Jackson Fire & Security Franchise opportunity.
Own your very own Dessert Franchise Business with NitroTreatz and benefit from incredible turnover and huge earning potential.
Run your own Domestic Cleaning Franchise and take your share of the multi-billion pound cleaning industry.
The No Letting Go Inventory Management Franchise enables franchisees to earn a six figure income.