Starting a franchise or expanding a current one can be a costly time for any business. To avoid using your working capital to fund the process, franchise financing is a great way to gain important financial support. It gives you access to fast, simple capital that can be used to pay the initial franchise fee, buy new equipment or help to renovate your workplace.
If you’re unsure about acquiring financing for your franchise, this article will highlight how it can benefit your business and take your project to the next level. Whether you’re setting up a new franchise or looking to expand your current one, franchise financing can release funds that are integral to supporting businesses during periods of growth.
At Millbrook Business Finance, we offer an extensive selection of franchise financing options to suit your individual requirements, with a team of experts with comprehensive knowledge of business loans, asset and equipment finance, and more.
What is franchise financing?
Franchise financing is a term that covers a range of business-related products that are aimed at giving a franchise support when they need it most. During periods of growth or when starting out, franchises can require extra support with their finances to help fund development. Since it can be difficult to use your own working capital, franchise financing offers a quick, simple solution. It includes business loans, asset and equipment financing and more.
When starting out a franchise you will have to pay for the initial financing fee, and may need to redevelop a workplace, fund marketing, buy stock and equipment and cover any operation costs. The cost of your franchise depends entirely on the industry and scale of your project, but our franchise finance specialists can tailor your solution to suit your unique requirements.
What can I use franchise financing for?
As long as your franchise financing goes towards something directly related to your business, your funds can be used on anything. As mentioned previously, this can be physical things such as purchasing equipment or stock or funding any marketing campaigns or legal fees.
Your financing can also be used to help out during difficult times such as off-seasons or periods when business is slower. With franchise financing, you can borrow important funds to support your franchise and repay them over a period of time that works for you. By extending the length of your repayment period, the smaller the amount you will have to pay each month.
Franchise financing allows you to focus on the areas of your business that truly matter. During periods of expansion and growth, you want to be able to make your franchise the best it can be without worrying about the finances. With franchise financing, you have absolute peace of mind with the knowledge that you have received expert guidance on the financial solution that’s right for you. Leave that to the specialists and concentrate more on taking your franchise to new heights.
Benefits of franchise financing with Millbrook
1. Get fast access to funding
Sometimes you need extra funding as fast as possible. Unexpected events such as equipment breakages or costly repairs happen to all franchises and with franchise financing, you can get financial support when you need it most. Our financing application is quick and simple and can take only a matter of days for the funds to be released into your bank account. You are then free to spend the funds on any area of your business.
2. Competitive interest rates
All of our interest rates will be competitive regardless of the size of the loan or lending period. Our expert team will also offer specialist guidance at every stage of your franchise financing process to work out the best solution for you.
3. Fund your franchise without using valuable working capital
Franchise financing offers a valuable solution to funding your franchise without using any of your hard-earned working capital. Your working capital is key to providing your business with the funds needed to keep running and help maintain a working cash flow.
4. Repay over a period that’s right for you
We offer fully flexible repayment options to suit your individual needs. Repaying your loan over a longer period will mean that you have less to pay back each month, which can help to free up capital for other areas of your franchise.
A shorter loan will mean that your repayments are over sooner and you'll have paid less in interest, but it does often mean higher monthly repayments due to the shorter loan term.
Franchise financing with Millbrook Business Finance
Here at Millbrook Business Finance, we offer a selection of franchise financing options to suit your individual requirements. We understand that all businesses are different and will deliver tailor-made financing solutions to help support your franchise. Our team of experts will give guidance every step of the way, ensuring that you get the business solution that’s right for you.
Our franchise financing process is quick and simple - simply submit a finance application, and then our team will review it and send you a copy of your agreement upon approval. Once the agreement is signed and returned to us, your fund will be activated and released. All of our franchise financing options are completely flexible and can be repaid over 3-month to 10-year periods. We will also always offer competitive interest rates.