How to fund your franchise management business
You can raise bank funding (subject to status) far more easily with a bank approved franchise, such as the aspect.co.uk business opportunity.
We are regularly reminded by the news and media how tough the current economic climate is. The number of business loans being offered by high street banks to start-ups and small businesses does not appear to be rising, despite government pressure and various initiatives and schemes. Whereas in the years leading up to the credit crunch, given the right circumstances, you stood a reasonably good chance of securing a loan to raise some or all of the money needed to start your own small business or fund its growth, that no longer seems the case in many instances.
Historically banks have been more willing to fund franchise business applications because these have been seen as significantly less risky propositions. The aspect.co.uk business model has been approved by the following banks;
Once you have completed the initial stages of the aspect.co.uk application process, we will arrange your introduction via the Head of Franchising of your choice of Franchise bank to your local commercial business branch manager who will be prepared by their franchise team. Arriving at your meeting fully prepared with your business plan and structured funding application (which we assist you with) you may be able to borrow you to 70% of your total investment, including working capital, subject to status.
Depending on your circumstances you may not even need to provide security on the money you borrow. EFG (Enterprise Finance Guarantee) is a government backed initiative to support funding applications where the lender determines the business is viable (able to meet the monthly loan repayments and repay the loan in full), but is lacking adequate security to meet the lenders standard lending requirements. Since January 2009 20,000 SME’s have been offered EFG loans with a total value in excess of £2billion.
Alternatively, you could seek part investment from friends and family, so they can share in your success. Whenever you accept investment from such sources, we strongly recommend that you have the details documented within a legal agreement drawn up by a professional, so that all parties know exactly where they stand.