Who can help me finance my dream franchise?

It is a big step from deciding to buy your dream franchise to actually opening your doors for business and, for many prospective franchisees, one of the biggest challenges is approaching a lender to fiance your dream franchise. Before you prepare a business plan for your franchise or talk to a franchise finance lender about funding, there is a lot of work to be undertaken first. Essentially, a prospective franchisee will need to undertake research on your chosen franchise, making sure that it is the right one for you and that you are fully aware of what is involved with running the franchise in question.

Transmit are a fiance lender and have funded over 50 franchisees to date, across 10 different franchise brands. The Average loan value to which Transmit provide currently stands at around £15,000, but they can go up to £100,000 per business (4+ founders, £25,000 each).

What costs should I consider?

Costs for setting up a franchise opportunity can vary widely based upon the type of franchise opportunity you are interested in.

You will need to consider the following when researching the true costs of investing in your chosen franchise.

• Initial franchise package fee
• Premises costs
• Refurbishment costs
• Fixtures and fittings
• Signage
• Opening stock
• Equipment
• Licences (software)
• Telecommunications (landline, mobile phone, broadband etc.)
• Tools
• Vehicle costs (consider leasing as an alternative to purchasing the vehicle outright)
• Vehicle livery and fit out costs
• Marketing campaign (Include launch program, PR, social media and networking)
• Marketing and promotional materials
• Business stationery
• Professional fees (solicitor, accountant, architect and surveyor fees)
• Memberships (trade associations, chamber of commerce, consumer groups etc.)
• Insurances
• Staffing costs
• Consumables
• Ongoing franchise management services fees
• Ongoing national and local franchise marketing and advertising costs
• Working capital

Why is the Transmit loan scheme an attractive option to any potential franchisee?

Well, for one, Transmit can fund franchises, whereas some financial lenders will not offer this lending facility to help grow their franchise network. Transmit are in a position where they can 100% finance a franchise if the prospective franchisee doesn't have any capital to invest themselves, whereas a bank would probably only provide 50% of the funds required to purchase the franchise.

What are our Charges and repayment terms?

Transmit loans are only charged at 6% per annum and repayments can be made over a 5-year period if required. Transmit also provide free franchise business planning support and free mentoring for 12 months, we don't charge any set up fees and the loan can be settled early at any time, without any additional penalty.

Additionally, the Transmit franchise loan team are a friendly, approachable bunch. Whereas some lenders look for reasons to decline people, it is in our interest to approve as many loans as possible, as quickly as possible. Please feel free to contact Transmit to see how we can help fund your dream franchise.