The franchise business will contact you by means of email and/ or telephone only to the email address and phone number you have provided.
By submitting the enquiry form you are consenting to send your personal information to the selected franchise business.
You also agree to receive further newsletter email marketing from What Franchise.
I’m about to approach my bank about funding my franchise. Do you have any tips?
The first tip is not to approach the bank until you have discussed with the franchisor its process for doing so. All reputable franchises will be known to the various banks’ franchise sections and other sources of funding. In most cases, there will be agreed formats for applications and processes for submitting them. This makes the whole exercise a lot simpler and more likely to be successful.
The second tip is to make sure you understand as much as you can about how the business will operate and where the figures came from that go into the funding plan. This applies whether or not you get help in completing that plan from the franchisor or an approved third party, such as a recruitment consultant.
The important thing is that any figures given to you by the franchisor should be based on fact, ie the results of either company owned or existing franchised outlets.
For the larger investment franchises, you may still have to meet a business manager from the bank, who will want you to demonstrate your understanding of how the business is likely to grow and what the key performance indicators will be, so be ready for some awkward questions.
You might also be interested in
Answered by Alan Wilkinson
Alan Wilkinson writes: The short answer is no. The interesting bit is why a franchisee should actually... read more
Answered by Louise Harris
Louise Harris writes: This question is one that many have explored and much has been written on... read more
Answered by John Pratt
John Pratt writes: Virtually all franchise agreements are granted for a specific term and either contain an... read more
Answered by Shelley Nadler
Shelley Nadler writes: The answer to this will really depend on the reason your franchise is not... read more
Exciting Franchise Opportunities
Companies to Consider
Stagecoach Performing Arts
BforB - UK
Circa £200,000 AFTER fees
Third party support
Return of initial investment
Average net profit margin 20%
£500,000-£1m, bottom line 20%+
Fun Fest for Children
Get expert franchising news delivered straight to your inbox
Franchise news, advice and new opportunities delivered weekly.
Must Read Articles
Added 3 years ago | 2 min read
Added 19 hours ago | 2 min read
Added one day ago | 2 min read
Find your next business opportunity
Search 100s of UK franchises and become your own boss today.
What Franchise Newsletter
Keep up to date with all the industry news