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Q: I am interested in investing in a home-based franchise, and would need to borrow around £10,000. Should I just get an overdraft rather than a specific franchise loan? Am I entitled to see actual accounts that support the financial projections that my prospective franchisor has provided me with?

Jun 13 2007

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Answered by: Julie Waites Ask a question

I strongly recommend that if you need finance for a franchise, then you approach one (or more) of the franchise units of the banks. The franchise units are specifically geared to provide finance to franchisees and they have specific lending criteria for most well developed franchise systems.

The franchisor should be able to provide you with the rationale of how the projections have been produced. Accounts are an excellent way to support these projections.

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