Monkey Puzzle Franchise News
Financing A Franchise
If you are considering owning a franchise, it is imperative that you understand completely the financial aspects of your new venture, both from a funding and business planning perspective.
Without doubt you will be required to have some capital to invest, but may not need to find the whole whole amount needed up front.
With our Monkey Puzzle nursery franchise offer we are able to make introductions to the franchise departments of the major high street banks. Having worked with us over many years they are aware of our franchise business model and potential franchisees can benefit from preferential rates and a high rate of acceptance.
For most franchises banks may lend up to 70% of start up costs for established franchises, but for newer ones you will find that they are only willing to go up to 50%.
Once you have completed a franchise agreement you will then be faced with costs for various items, with location premises forming a major part. Depending on the type of business you will need capital to purchase initial stock, computers, stationary, marketing and in most cases a website. The cost of a Monkey Puzzle branded website is included in our agreement as are certain elements of a marketing strategy.
It is essential that you understand what those upfront and ongoing costs will be and ascertain a projected timescale for the business to break even. During that period you should also allocate a budget for your living expenses until the business can support you.
The benefits of a long standing, successful franchise, and in this case our nursery franchise, are you will have access to information based on historical performance, while you can also check with existing nursery franchisees as put of your research.
Financing A Franchise | Deposits
You will almost certainly asked be asked to pay a deposit to show how serious you are about buying the franchise, so you should be fully aware of the conditions for a refund and the potential costs that will be deducted. The British Franchise Association’s rules, of which we are a member, state that the franchisor must return any deposit taken if a potential franchisee does not proceed.
If you consider all of the above and carry out due diligence you will be in the best position to make the right decision for you.
At Monkey puzzle we will help you through these procedures supporting you every step of the way, including full training should you decide to go ahead. But, in summary, you as a potential new business owner need to completely understand your cashflow and business plan, because remember…
It’s ultimately you’re responsibility.
If you are interested in finding out more about our Monkey Puzzle Nursery Franchise offer, get your free franchise information pack here.
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Monkey Puzzle News
Monkey Puzzle Day Nurseries Ltd
Herts, HP4 2UB
Telephone: 01442 878887