When a franchise is looking for some external funding, the traditional approach will be to contact the local bank or to try and source a business loan. However, there are a number of different options that could be more suitable. Let’s explore these in more detail. Working capital loan – a universal funding solution which…
read moreMore and more people are wanting to step into the world of business ownership but for many it simply just remains a desire, with only the bravest actually taking the leap. Often it is questions such as, what business can I create? How am I going to make money? How will I get new customers?…
read moreRunning a successful business is incredibly rewarding and brings broad benefits. However, there will be a point in time when the business owners fulfil their existing growth plans and then need to evaluate what is best for the next period of growth. How can they capitalise on the success built, how can they reach a…
read moreThere is so much positivity in the world of franchising, as a sector it continues to see encouraging growth. It also offers a great pathway for people that want to become the owner of their own business. Investing in a franchise not only gives complete freedom but it also comes with security. An entrepreneur is…
read moreAny successful franchise will need to embrace growth periods. When success has been achieved and the franchise is performing well it can be easy to relax and settle with what you have. However, a franchise should actually embrace the growth periods and keep pushing for future growth, why stop when business is good, instead make…
read moreSometimes, to assist with working capital, there will be a need to quickly secure a loan for your franchise. With so many lenders available it can be a minefield knowing which direction to turn. Preparation in these situations is key to a successful application. Prior to securing the funding there are considerations that a franchise…
read moreApplying for a franchise loan can be complex. However, there are some very simple steps you can follow before completing the application, which if undertaken can really assist with a successful outcome. Early accounting – keep all your important financial accountancy commitments up to date and whenever possible try to file your annual accounts early.…
read moreRunning a successful franchise can be incredibly rewarding but in order to maintain maximum efficiencies you have to rely on high performing equipment. For example, if you have a fast food outlet you need fridges/freezers, cooking equipment, tills with the latest technology, screens, comfortable and hygienic furniture, air conditioning and ducting. Or if you provide…
read moreTrying to find the right business loan for your franchise can feel like a minefield. With lots of different options to choose from and terminology that many are unclear on, it can be a very tricky decision. You really want to ensure that you fully understand the options available so that you can select the…
read moreNo matter what the size of the franchise there will always be a time when cashflow problems are experienced. Keeping a constant eye on cashflow and ensuring that the business always has a positive level of free cash is vital to the ongoing success of the franchise. If you understand your incoming and outgoing cashflow…
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