It's easy to assume that because you're buying into an established franchise brand, the hard work of understanding your market has already been done for you. Thorough local market research is one of the most important ingredients in both a successful funding application and a thriving franchise business. Why lenders want to see market research…
read moreA strong business plan is often the single biggest factor separating a successful franchise funding application from a rejected one. Yet many prospective franchisees underestimate just how closely lenders scrutinise the detail behind the numbers. Understanding what lenders are looking for and presenting your plan accordingly, can make the difference between a quick approval and…
read moreWhen you're starting or growing a franchise, having a clear picture of your future finances isn't just helpful, it's essential. Sales and profit forecasting gives you a roadmap for your business, helps secure funding and keeps you focused on hitting the right targets. Here's how to approach it step by step. Step 1 – Start…
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