What are the 5 Things You Need to Secure Finance?
- A potentially profitable business with high growth.
- A strong management with the experience and confidence to make it all happen.
- A fully researched business idea or product.
- An objective of how to reach profitability and how to repay any financing that is received.
- A well prepared and ‘not over the top’ business plan
Raising Finance for the Purchase
Any lending institution that is asked to fund the purchase of a franchise would need to have answers to the following questions:
- Who would be running the business?
- Would the owners have the necessary management experience or would that require further training?
- Is the franchise a reputable one with a good name?
- Is the franchise successful?
- How good is the franchisor and what is the track record over the years?
- How many other franchisees have operated successfully under the franchisor?
- How does the cash flow stack up?
- Would the...
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