More money. Better lifestyle. Greater autonomy. That’s the dream most aspiring business owners start with. But it’s not achievable without a solid understanding of the process behind starting – and then running – your own show. A dedicated research phase is the first essential step in getting a strong understanding of the business you intend …
Now you’ve pinpointed the franchise you want to buy, it’s time to approach the banks for finance. But, before you do, it’s vital that you develop a business plan to support your case for a loan. Take your time – a good business plan involves effort and research, and demonstrates to the bank that 1) …
Selling your business is similar to selling your home. In the same way that you repaint the house and tidy the gardens to get ready for sale, your business needs a solid spruce up too. Regardless of whether your business is large or small, strong preparation is a must. It may take two to three …
What you Must Know Before Selling your Business. Read More »
You’re up to the due diligence stage of buying a franchise. At this point, we recommend contacting a number of existing franchisees to ask them questions about their time in the system. I suggest at least five topics for conversation, such as: Are you happy with the support from your franchisor? Is the performance of …
5 Questions to Ask Existing Franchisees Before you Commit to Buying in. Read More »
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 …
If you’ve ever dealt with the banks before, chances are you found the process somewhat challenging. But it really needn’t be. Let’s look at arming you with a bit of ‘insider’ knowledge so you enjoy a better, more productive experience… It’s important to understand the concept of risk profiles when applying to the banks for …
How to Nail your Bank Application for Business Funding Read More »