How to finance a franchise business with Premier Education
Franchise finance can be difficult to get your head around, especially if you’re new to business. There are several options to choose from, but how do you find the best one for you?
We’ve put together a guide on the different options available, along with some helpful information on securing finance, costs, and when you’ll need a business plan.
What is a franchise?
Starting a franchise is a smart way to establish a business, while still being able to collaborate and socialise with fellow franchisees.
According to the British Franchise Association, franchising is classed as a business relationship between a franchisor and a franchisee. The franchisee typically pays an initial fee and is then able to trade under the brand name, use the business systems, and sell the products. This all falls under a franchise agreement between the franchisor and franchisee.
The franchise business model means that you get to have the experience of running your own business, without having to go through much of the hard work to set up – you can leverage the franchise brand and products to start making a profit right away.
Advantages of franchising with Premier Education
- A determination to work hard at your business
- A positive mindset and ‘can-do’ attitude
- The ability to follow the Premier Education model which has been delivering results for 25 years
- To be comfortable around people. You’ll be working with people of all ages and backgrounds
- A passion to inspire others to enjoy life
- Management skills or a desire to learn them
- The ability to self-manage your schedule, motivate your team and deliver fun and enjoyment to your clients.
Franchise business opportunities with Premier Education
Shared Ownership Franchise
Our Shared Ownership franchise programme is designed to help business owners get started with less investment, and less risk.
This programme, once you’ve finished the onboarding, gives you access to an exclusive territory with at least seventy-five primary schools. The overall cost of a Shared Ownership franchise is £14,995 – though all you need to get started is a deposit of £2,000. The remaining capital can be financed and provided later.
Along with your investment, you’ll also receive £10,000 of funded support from us. This support means that you will get training with no training fee for our business planning, sales, recruitment, and other skills needed as a business owner.
The Shared Ownership programme stands out for its distinctive approach, offering a gradual entry into the world of franchise ownership. Initially, you’ll hold a 51% ownership stake in the franchise, with the flexibility to acquire additional shares as your business grows. This approach enables you to establish your footing as a franchisee with reduced upfront risks, allowing you to gain greater control when you feel fully prepared.
The Gold Franchise
Our Shared Ownership franchise programme is designed to help business owners get started with less investment, and less risk.
This programme, once you’ve finished the onboarding, gives you access to an exclusive territory with at least seventy-five primary schools. The overall cost of a Shared Ownership franchise is £14,995 – though all you need to get started is a deposit of £2,000. The remaining capital can be financed and provided later.
Along with your investment, you’ll also receive £10,000 of funded support from us. This support means that you will get training with no training fee for our business planning, sales, recruitment, and other skills needed as a business owner.
The Shared Ownership programme stands out for its distinctive approach, offering a gradual entry into the world of franchise ownership. Initially, you’ll hold a 51% ownership stake in the franchise, with the flexibility to acquire additional shares as your business grows. This approach enables you to establish your footing as a franchisee with reduced upfront risks, allowing you to gain greater control when you feel fully prepared.
Financing a franchise business
Our Shared Ownership franchise programme is designed to help business owners get started with less investment, and less risk.
This programme, once you’ve finished the onboarding, gives you access to an exclusive territory with at least seventy-five primary schools. The overall cost of a Shared Ownership franchise is £14,995 – though all you need to get started is a deposit of £2,000. The remaining capital can be financed and provided later.
Along with your investment, you’ll also receive £10,000 of funded support from us. This support means that you will get training with no training fee for our business planning, sales, recruitment, and other skills needed as a business owner.
The Shared Ownership programme stands out for its distinctive approach, offering a gradual entry into the world of franchise ownership. Initially, you’ll hold a 51% ownership stake in the franchise, with the flexibility to acquire additional shares as your business grows. This approach enables you to establish your footing as a franchisee with reduced upfront risks, allowing you to gain greater control when you feel fully prepared.
Banks
One of the most common ways for individuals to secure finance for a franchising business is through a bank loan.
Working with a bank (or a similar lender) allows you to get a business loan or credit that meets your exact needs, including finance for your remaining franchise investment, as well additional funding for working capital and equipment purchases. Most major UK banks have specialised departments to handle a franchise loan application and repayment.
To get finance through banks, you’ll need to provide a few details and documents. Each bank may have different eligibility criteria, but for most you will need to be over the age of 18, and evidence of assets that can be used as security.
When applying for a larger loan, there is a high chance that you will be required to provide additional evidence and documentation. This means you’ll need to submit a detailed business plan, financial forecasts with projected costs, and information on the profitability of your franchise opportunity. This can seem daunting to those not familiar with starting a business, which is why we’re on hand to support our prospective franchisees with business planning and other documents that are needed – though we always encourage you to take independent advice on certain aspects of the planning, like projected turnover.
Our advice to prospective and existing franchise owners is that the first port of call for loans should be your own bank, as you’ll already have an existing relationship with them.
We just need a few details...
If franchising with us sounds like your idea of the perfect career, then please complete the form to find out more.
We just need a few details...
If franchising with us sounds like your idea of the perfect career, then please complete the form to find out more.