Why do it alone when you can be a key part of a recognised national brand?

Hello, my name is Grace King and I am the Franchise Director at Monkey Puzzle Day Nurseries. I believe the ideal franchise relationship is all about partnership, with expertise close at hand, but the independence and autonomy to run your own business. Franchising enables you to access a wealth of strategic stakeholders within the industry, such as key financial organisations, which may not be at reach to those looking to run independently.

Starting a business can be daunting, particularly in a sector which is heavily regulated like childcare. We provide a ‘partnership’ style franchise package that ensures our franchisees are fully trained and supported to run a nursery setting – our team are on the journey with you.  

So, how are you going to fund this exciting opportunity, you are a newly formed limited company with no trading track record, how does it work?

Our lenders only work with quality proven franchise businesses and have completed extensive due diligence on Monkey Puzzle, how we operate and who our franchisees are to ensure a strong understanding of the process. This means that they can support our franchisees with more beneficial terms than other less established businesses within the sector. Over the past 10 years we have built relationships with these organisations and through our track record it allows our franchisees access to higher levels of unsecured lending, bespoke interest rates and greater loan to set up cost support.

Our team dedicate time to ensure our franchisees understand the detail within the business plan. Its key that our franchisees have access to financial planning and P&L management support. Over the past few years many independent businesses have been left to weather the storm alone. Monkey Puzzle continue to look to the future and have supported our network to continue to evolve and succeed in the current economic crisis. This is where the Lending Process begins:

• Have those initial conversations. Monkey Puzzle will introduce you to the franchise directors of all key lenders. You will then be allocated a local relationship manager who will answer any questions and ensure you understand the process.
• Submit your financial information. Monkey Puzzle will assist you to prepare and submit your financial information to your relationship manager. Once they have reviewed and discussed this with you it will be submitted to the credit department.
• Get a decision in principle. This confirms the bank can support your lending request. At this point, your interest rates, fees, and any lending conditions will be confirmed.
• Complete the due diligence checks. This helps identify you and needs to be undertaken for all franchisees. If you are opening a business bank account with the lender this will be completed at the same time.
• Lending & legal documents are sent to you. Once the due diligence is complete, your local relationship manager will ensure all lending and legal documents are sent out to you and solicitors (if applicable).
• The lender will release the funds once all documentation is returned and satisfactory to the bank. They will typically check the lending and legal documents as well as ensure any conditions of the lending are satisfied

So, in summary, work with your franchisor to understand the numbers and viability of your business opportunity. Use the data available within the franchise network to develop an extensive business plan which clearly demonstrates the financial sustainability of your proposition.