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.
Will a franchisor help me secure funding for my franchise?
Louise Harris writes:
It’s in a franchisor’s interests to help a good franchisee prospect to secure funding - and indeed the right funding. It should have contacts who can assist - including franchise departments at the major banks - asset finance people if appropriate and other lenders in respect of vehicles if required.
Best practice would be for the franchisor to work with prospect franchisees by providing a template business plan that will be needed for funding. This should include financial projections, cash flow and profit and loss forecasts.
Along with narrative about the franchisee, including their CV, and background on the business itself, there will also be a section that identifies the savings, assets and outgoings of the applicant, which will help inform the level - and possibly type - of borrowing required.
It’s not in a franchisor’s interests to bring people into the network who have overstretched their finances - we like them to be hungry to earn, but not hungry because they can’t afford to eat!
It’s critical that a prospect is honest about their figures and shouldn’t be disappointed if they are declined on the basis of lending. The partnership of franchisor and franchisee is, after all, about both parties running a profitable business.
You might also be interested in
Answered by Shelley Nadler
Shelley Nadler writes: There are two main types of franchise fee paid to the franchisor in a... read more
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
Exciting Franchise Opportunities
Companies to Consider
Chop & Wok
Profit between 27 to 33% of turnover
No Letting Go
Concept Claims Solutions
£12,000 weekly revenue, 25% net profit
I Am Döner
£10,000+VAT turnover per week, 20% EBITDA profit
£600,000 to £800,000
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 about 13 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