Our client was looking to purchase a Subway franchise. This was her first franchise experience and, as such, a new departure for her. She had identified a suitable location and agreed the terms of the franchise. Her Bank had agreed to a loan to purchase the franchise and the lease on the premises, but they were not prepared to extend funding to cover the fitting out of the premises. This presented a major problem for obvious reasons. The situation was made more difficult by the fact that the Franchisor had imposed a short time scale for the completion of the contract and opening the shop.
Luckily our client was recommended to contact us at BFS. We listened carefully to her story, we looked closely at the Business Plan and financials that she had prepared and concluded that there was a good case for funding the project if we could find the right Asset Finance Lender. Having a very wide base of Lenders to call upon, we approached a number that we thought would be prepared to consider providing the necessary finance. Out of these we proposed a couple to our client for her to choose from. The result was that, within a week of contacting us our client had the basis of a deal for the finance of the fitting out and was thus able to complete the acquisition of the franchise.
Since completing the original funding we have subsequently helped our client with finance on additional equipment. She has been so successful, infact, that she is now considering taking on another franchise in a nearby town. Another success story for BFS!
If you are thinking about taking on a franchise business then give us a call on 01327 349 779 or e-mail us at firstname.lastname@example.org and we will be happy to help you.