94
NatWest
Website:
www.natwest.com
Email:
franchise.retailbanking@
natwest.com
Phone:
0800 092 9117
classification:
Banking services
franchise services
Bank on it
Three Subway franchisees reveal how NatWest has
helped them to expand
B
USINESS PARTNERS Mark franchise business in just five years.
“The
Rannard and Paul Darlow They know their market and impressed
government
have bought three Subway us with their commercial acumen and
sandwich stores in Wigan supported future plans for the business.”
guarantees
by a £360,000 Enterprise Finance Another Subway franchisee that
75 per cent
Guarantee (EFG) loan from NatWest. has received funding from NatWest
of any loan
Mark and Paul have operated is Martin Gibson. After being made
Subway franchises for the last five years redundant from his job of 23 years,
made and the
and own seven other outlets across Lancashire man Martin acquired a
bank covers
north Liverpool. Subway store in Cleveleys and formed
the remaining
Subway was founded by Fred DeLuca The Lean and Green Submarine Co had a positive effect and allowed him
and Dr Peter Buck in Connecticut in 1965. Ltd, supported by a £44,000 EFG loan
25 per cent.”
to launch his own business. We are very
The chain has expanded rapidly and now from NatWest. happy to back this venture and look
has more than 30,000 stores operating in Martin says: “It is easy to become forward to watching his progress.”
91 countries. It is targeting further growth disillusioned when you are made The EFG scheme aims to ensure
in the UK and has pledged to open 2010 redundant however I was determined that smaller businesses have immediate
stores by 2010. not to let that happen. I looked at it access to working capital or investment
Prior to opening their first store, as an opportunity to move on to the finance to support their day-to-day
Mark worked as an auditor in the next stage of my career and took some operations. Under the terms of the
insurance industry and Paul was an time to evaluate what I wanted to do scheme the government guarantees 75
IT Consultant. Mark says: “We are next. Acquiring a Subway franchise is per cent of any loan made and the bank
very pleased to have completed the an exciting prospect as it allows me to covers the remaining 25 per cent.
purchase of the three Wigan stores as run my own business whilst benefiting NatWest and RBS have led the
they will enhance our existing portfolio. from the infrastructure and support of field in taking applications for the EFG
The Wigan sites are well established a strong brand name.” scheme, with more than £234 million
and have a loyal customer base. Our David Turnbull, a NatWest worth of loans already agreed or in
aim across all our stores is to ensure relationship manager, added: “Being the pipeline. Recent Department for
customers enjoy their visit.” made redundant can sometimes Business Innovation and Skills figures
Liz Lunt, NatWest relationship act as a catalyst as it pushes people also confirm that of all EFG lending
manager, adds: “Mark and Paul have into changes that they may not have across the industry, NatWest and RBS
worked very hard to build a significant previously made. In Martin’s case it has have provided nearly half of all loans. ■
November 2009
www.businessfranchise.com
BF094_Fran services_Nov09.indd 1 14/10/2009 17:10
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