Third-Party Finance 101: How to Finance Your it’seeze Franchise
Thinking of starting your own it’seeze franchise? Not sure how to pay the initial investment costs? With third-party financing, funding your it’seeze franchise has never been easier!
When it comes to finance, we know things can be a little bit daunting. Investing a lot of your own money into a new business is a big risk to take, but our aim is to make it as low-risk as possible. Not only is the initial investment into an it’seeze franchise low-cost, but, subject to status, you can borrow up to 70% of the initial £14k you need. This means that you won’t need to turn out your own pockets to make your franchise happen!
Not only that, but by directly contacting the franchise team at one of the many high street banks we’re partnered with, you’ll get a point of contact within the dedicated team to help you through the process. This means you’ll get support from a real person, not just automated answering machines!
The process itself couldn’t be simpler – you’ll speak to the team at the bank so they can understand both how they can support you, and what’s expected of you, before then submitting a detailed business plan showcasing how you’ll use the funding. This whole process takes around 2-4 weeks, meaning you can get started in no time!
Your £14k investment will help launch and grow your business, as well as providing the working capital you need to start. We will guide you in creating a realistic business plan, so you have enough working capital to pay your monthly outgoings.
Sounds good, right? Well, don’t just take our word for it. We spoke to one of our newest franchisees, Paul Chapman of it’seeze Wimbledon, who used third-party financing to set up his business.
When asked about how third-party financing helped him, Paul said: “Taking a business loan meant that I had more peace of mind when starting the franchise, as I had my savings there as a safety net for the first few months as I got myself settled with the business. It meant that I could focus more on building relationships with clients without the pressure of immediate income generation.”
Building good customer relations is essential to any successful business. With third-party financing, Paul was able to put that first. For many businesses, the importance of profit can outweigh the importance of people – and that’s what stops them getting customers coming back again and again. Third-party financing has allowed Paul to build customer relations from the get go – which will only help sustain his business in the long run.
We also asked Paul what the process of applying for third-party funding was like, and how he found it. He said: “The process included putting together a detailed financial plan, with feedback from the bank – which, if you have never had to do this before is helpful even if you don’t decide to go with a loan.”
One of the things we help our franchisees with at the it’seeze franchise is planning their business. Creating a financial plan to apply for funding is great because it helps you see for yourself how to plan ahead to give your business the best outcome. As Paul said, the bank will also give you feedback on your plan – so you can get tips for improvement and really get the most out of your franchise. What’s great about third-party financing is the way that every aspect of the process is beneficial to your future business – whether it’s the skills you learn from the application process, or the actual funding itself.
Third party financing has SO many benefits for new franchisees, but we can understand if you’re still a little bit dubious. Our expert team are here to support you through the process! Get in touch today if you have any questions, or to get started with your application.
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