Borrowing money is not always easy for a new franchisee. And with banks tightening their belts, it is even more important for those taking on franchises to be realistic about how big a loan they can afford.
However, the good news is that the banks still look favourably on new entrants who are working with established, big-name franchising brands.
‘A lot of the banks want more reassurance that the business model has been proven and that it has a good record,’ says James Eades of Franchise Your Business, a consultancy based in Esher, Surrey.
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