Starting up any business involves capital. You need to be able to have enough funding in place to run your business until it starts making profit...
Starting up any business involves capital. You need to be able to have enough funding in place to run your business until it starts making profit – in agency this usually takes circa 12 months. It’s important when considering starting up that you spend time on a 24 month detailed business plan and cash flow forecast that will hugely aid your budgeting.
All the major banks in the UK have franchise departments, lending to individuals who want to set up their own business. HSBC and Natwest’s franchise departments each have almost three decades of experience and can provide you with all sorts of good support and guidance when considering your own franchise. They can each also loan up to 70% of what you need, a very helpful investment amount. You don’t have to business bank with your lender but it might make your life a bit easier.
A franchise will be one of the biggest financial investments you make so detailed research is key. Speaking to franchisors, franchisees, banks and solicitors can help.
If you want to find out more about franchising and whether it’s the right decision for you, the banks have extensive information on their websites:
To find out how you can become part of Winkworth contact our New Franchising team
James Campbell | Gina Piper
firstname.lastname@example.org | 020 7355 0200