Tips to secure your bank finance
TIPS TO SECURE YOUR BANK FINANCEOwning your own franchise business is a dream for many New Zealanders and as exciting as the dream may be, the realities of actually ‘taking the plunge’, particularly in the area of securing your bank finance, can be e
What is working capital and how much will I need?
What is working capital and how much will I need?Working capital is the capital (cash) you will need to operate your business over a short term. It is used to cover expenses such as wages, power and sometimes the opening stock of a business until sal
I need to obtain finance for my franchise purchase, what will I need to provide to the Bank?
I need to obtain finance for my franchise purchase, what will I need to provide to the Bank?Whether you are purchasing a mobile business or a retail outlet, most banks will require some, if not all, of the following information:A statement of your pe
What is a reasonable return on my investment?
What is a reasonable return on my investment?Making enough money to live is an important consideration but not the only one. Presumably, if that was your only consideration, you could remain an employee of someone else and not put any of your money a
How much can I borrow against my franchise business?
How much can I borrow against my franchise business?Depending on the franchise system, banks may lend up to 60% of the cost of the business. You should speak to your bank about how much they might lend against a particular franchise. The outstanding
What sort of franchise can I afford?
What sort of franchise can I afford?Franchises vary widely in their initial entry costs and their ongoing fees and royalties. It is a good idea to work out early on in the process roughly what sort of franchise you can afford and whether you will nee