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Will a franchisor assist me in securing funding for the business?
Most well-established franchisors, whose own business and those of its franchisees have a track record of successful operation, will have made the franchise sections of the major banks aware of their franchising offer. The banks then take a view on whether or not in principle to lend to new franchisees for that system, and put in place a procedure for the franchisor to introduce candidates to them. The most important part of the process, once the franchisor has satisfied themselves that a candidate is likely to be able to run one of its franchises and has sufficient collateral to obtain the required funding, is for the franchisee to complete a business plan, usually with some guidance from the franchisor or a third party, and submit this for the bank to consider. Even if you don’t need to borrow money to acquire and run your franchise, it’s a good idea to discuss your proposed venture with your bank because they can get a view on the system in question from their franchise section. It may be that they wouldn’t lend on it anyway - in which case that’s a warning to you to steer well clear.
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Exciting Franchise Opportunities
Companies to Consider
BabyBeats® and Mindful Movers®
£30,000 depending on times and days worked
£1.2m annual turnover
Third party, subject to status
Black Rooster Peri Peri
ROI within 18 months with an average net profit of 25%
Blossom Home Care
£12,000 weekly revenue, 25% net profit
Fun Fest for Children
£500,000-£1m, bottom line 20%+
Body Fit Training (BFT)
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