Funding for franchise
Discussion
A mate is looking into purchasing a franchise from a very well known operator with an upfront fee of approx £80k. Problem is my mate does not have the full £80k! How hard is it to raise finds for such a purpose from a high street bank right now or are there companies that specialise in this area?
Cheers
PL
Cheers
PL
He is looking at a franchise from a major chain of cheque cashing companies. He may be able to set up himself but I would imagine that it is a pain to do with all the relevant regulation although I have not looked into that at all so could be wrong!
He lives in a small town where there are a high number of immigrants, many unbanked so it seems like a decent location for one.
He lives in a small town where there are a high number of immigrants, many unbanked so it seems like a decent location for one.
Not 100% sure to be honest! there is obviously the advantage of the brand etc but I assumed there are issues around regulation. My background includes working in pre-paid cards and the regulations around them can be a little sticky so I assume its easier to work under some oprganisations umbrella, but no idea if he has looked into it.
You could well be correct but I am more concerned to be honest about the regulatory stuff. I assume the other advanatges of the chains is getting involved in Pawnbroking etc. Don't really know to be honest but I'll let my mate know that I was correct in that funding can be got for these kind of things.
All input much appreciated as ever.
All input much appreciated as ever.
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