QUESTION: How the heck do you get funding to start up a franchise if you don’t have any money, but they require you to put 25%+ down.. Looking for funding gets tedious?

GOOD ANSWER: One route off the top of my head that I have seen others take … is to look for a business partner who has that £’s asset maybe a trusted family member or friend . You can establish a partnership with someone who has money to invest and in return they get a portion of the business. You provide your hard work for your share of the business.

BETTER ANSWER PERHAPS:

• Get involved with a franchise
• Make sure the franchise is a real business and investable
• make sure the market sector is strong.
• make sure the intellectual levels of entry are high
• make sure that the other barriers to entry are high
• make sure the franchisor has the intellectual property of the business
• make sure that you understand that ‘nothing happens in the world until someone sells something’

Establish which sort cash you are short of because setting up a new business uses two sets of cash (1) setup costs and (2) working capital

• setup costs – you need money now to actually make a start..
• working capital – you need financial support until you break even

You need friends or banks or credit cards and have a look at business plans and consultants

Speak to the franchisor!