FRANCHISESERVICES
Foundations for success Franchise Finance asks – are you following your dream?
I
t’s the time of year when people consider if their job is really making them happy – the dream for many
is to become their own boss. But that is challenging; you find yourself responsible for everything from staffing issues to raising and chasing invoices – and that isn’t easy if you don’t have the appropriate experience, training or support. That’s why more and more people are turning to franchising. The beauty of franchising is that you
can focus your energy on the proven model, following clearly defined processes that significantly increase your chances of success. That is as long as you remember: cash is king!
Let’s start with some fundamental points.
You're about to set off on a journey. What’s your destination and how will you arrive there? You need a three-year financial business plan that must include: Ÿ The projected profit and loss account: are you likely to make a profit or loss and is it worth the effort?
Ÿ The cashflow forecast: how much cash
will you need each month in order to stay on course? Can you afford it?
Ÿ The projected balance sheet: what you expect your business to owe and own (assets versus liabilities) at the end of each year.
These projections will provide you with the means to monitor and manage your business effectively. Having now properly planned your
journey, you need to make sure you have the right amount of cash to navigate the challenging start-up phase, achieve break-even and, ultimately, profitability. The cash you need on a daily basis to run your business and pay the bills (working capital) needs to be carefully calculated. If funding is required, help is at hand. Lenders “love” franchises! The lower risk of a proven model provides additional comfort around a loan application. If a deal is viable and presented correctly to the lender, the funding will be made available to you. Franchisors will provide you with support for the day-to-day running of your business,
Franchise Finance
LEADING EXPERTS IN RAISING FINANCE
Proud to support franchisees and franchisors with our award winning services
Credit Decisions in 48 Hours* 95%+ Credit Approval Rate Start-Up and Expansion Funding Finance from £5,000 Upwards*
while Franchise Finance can prepare and structure your business plan and financial projections and arrange the funding and financial training you need to start your successful franchise business. l
CONTACT Franchise Finance Financial Services 01844 355 575
franchisefinance.co.uk info@franchisefinance.co.uk
Business Planning
Arranging Finance
Get in touch now! 01844 355575
info@franchisefinance.co.uk www.franchisefinance.co.uk
*Finance is subject to status and terms and conditions. Franchise Finance Limited is a credit broker authorised and regulated by the Financial Conduct Authority. Registered Office: Hitachi Capital House, Thorpe Road, Staines-upon-Thames, Surrey, TW18 3HP. Registered in Cardiff no. 07285150. Franchise Finance Limited is a wholly owned subsidiary of Hitachi Capital (UK) PLC. Hitachi Capital (UK) PLC is Franchise Finance Limited’s preferred finance provider on their panel.
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Asset Finance
Business and Financial Training
Business Consultancy
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