8 Reasons to Buy a Franchise

Some people are destined to be entrepreneurs. And – for many – the idea of starting out with a franchise holds plenty of appeal!

If you’re considering buying a franchise, it’s important to carefully consider your motivations – you’ll be asked by a lot of people down the track! Including the franchisor, business broker, banker and, potentially, me!

The top 8 reasons why people want to buy a franchise:

  1. Change from the 9am – 5pm grind.
  2. The chance to be your own boss.
  3. Realise your dreams of working for yourself.
  4. Change of career.
  5. Autonomy of hours.
  6. Spending more time with family.
  7. Leveraging equity for investment purposes.
  8. Building wealth.

If you want to own a franchise, take the leap! Our blog article, The SME start-up process explained, will give you a realistic idea of the process involved and options available to you. And remember, we’re always here to help, so contact us today for a free preliminary consult.

Have you got enough equity or cash to buy a franchise?

Obtaining funding for a franchise is – for the most part – easier than a non-franchised business if you need the bank to extend finance beyond the value of your home.

For many franchise businesses, the banks will lend between 50 per cent and 70 per cent against the actual value of the store (on top of anything they will lend against your house). This has the effect of allowing you to leverage additional funds generally not available to you when looking to purchase a non-franchised business.

Need more information? The Finance Specialists can help you understand your borrowing power – call today for general advice over the phone.