Franchise Advice


Securing funds


provide the answer. As most franchises are designed for people with little or no experience in a specific industry, starting a franchise allows you to try something new. Franchising is considered a safer option


W 22 | Businessfranchise.com | April 2014


ith over two million people unemployed, finding a new job after redundancy could prove challenging, but franchising may


Banks are more willing to lend to a start-up that is backed by an established brand, says Cathryn Hayes


than going into business on your own. A franchisee should have a tried-and-tested format to follow, training and support from their franchisor, and a network of fellow franchisees to speak to – so although franchisees own and operate their own business, they are not doing it alone. A good franchisor will encourage and help their franchisees with business planning both at the outset and on an ongoing basis, helping the business to get off to a flying


start and continue to develop. Many small business owners are just too busy to look at what is happening in the marketplace, what competitors are up to, how customers’ needs might be changing, but a good franchisor will consistently look at researching the market, helping their network of franchisees to keep ahead of the game.


All this support means that banks are much happier to lend to a start-up franchisee.


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