Some of the most recognised brands in Australia are franchise businesses. Think Subway, Dominos, Laser Clinics, Poolwerx and the list goes on.
From fast food to fitness to financial planning, franchising opportunities are as diverse as they are popular with the Franchise Council of Australia reporting the sector worth a whopping $146 billion, incorporating over 800,000 businesses and employing more than 500,000 people.
Like any business opportunity, there are pros and cons that need to be carefully considered. And of course, if you do decide that franchising is for you, it’s critical to establish strong foundations first and that means securing competitive and correctly structured business finance.
Following is a summary of the advantages and disadvantages of owning a franchise business along with a quick reference guide to help you navigate the process of getting a better business loan in today’s marketplace.
It’s important to note, while you may think your franchise opportunity stacks up, there are only very few banks and specialist lenders that will lend funds for franchise businesses (and this can change from week to week).
Additionally, some of these lenders may only have appetite for specific business types or brands. This is not referenced as a deterrent, simply a heads-up as to the importance of engaging an experienced franchise finance professional to guide you through the process, someone who knows which lenders are going to be on your side.
Of course, for more specific information on competitive funding for your business get in touch today.
THE FINEPRINT: The information provided on this site is on the understanding that it is for illustrative and discussion purposes only. While all care and attention are taken in its preparation any party seeking to rely on its content or otherwise should make their own enquiries and research to ensure its relevance to your specific personal and business requirements and circumstances.
Green Finance Group Pty Ltd ACN 145 035 221 is authorised under LMG Broker Services Pty Ltd ACN 632 405 504 Australian Credit Licence 517192.
"Owning and running your own business is an exciting, daunting, challenging and rewarding endeavour all rolled into one. Just like the physical premises of your business, your success hinges on your foundations, starting with getting the right finance at the right price. That's where I can help."
Fortitude Valley, Brisbane
An award-winning small business and franchise finance specialist who's on your side when it comes to finding a better finance deal.
Prior to joining the Green Team in 2018 I worked behind the scenes at some of the country's largest finance institutions, including Westpac and BankWest, primarily helping small and medium sized businesses to secure competitive finance.