Purchasing a franchise is a big step for any business owner, and we are here to support franchisees by giving them the very best chance at their new venture.
The Challenge
A franchisee wanted to purchase a Tasty African Food location after the franchise’s initial success across London, UK.
The challenge for this businessperson was a lack of Director experience with franchises on their record to potentially secure finance. They also needed funds for a variety of different things to get started, so couldn’t necessarily approach a lender with just one or two specifics they wanted finance for.
The Solution
With our previous experience supporting franchises, we knew it was more than possible to help this customer secure funds for the various things they needed, including commercial cookers, counters, lighting and even labour work.
After working closely together and getting everything in order, we were able to secure £26,000 to boost their starting cash flow and allow for the required stock purchases and restaurant fit out, without too much pressure financially. Even without previous Director experience, this customer was able to secure an affordable deal secured across 36 months with a VAT only deposit.
As a result, this franchisee can hit the ground running and avoid cutting any corners in their initial days of business. the Tottenham branch opened its doors successfully on 2nd October 2023. We even went to see them and try the food for ourselves once the doors opened. We are looking forward to seeing them continue to grow and thrive.