Franchising

Top ten tips

• Here's HSBC's top ten tips for assessing a franchise - Read more...

  1. Find out what franchises are available by viewing whichfranchise.com – there are also exhibitions, directories and magazines all devoted to franchising.
  2. Take as much advice as possible – from the bfa, banks, lawyers, accountants, Business Links etc
  3. Examine your strengths and weaknesses – what skills do you have? Does the franchisor provide training and back-up to help you overcome any skill gaps?
  4. Check the franchise is right for you – is the business one you can see yourself running?
  5. Talk to existing franchisees – what problems did they face, how successful are they?
  6. Investigate the franchisor – it is important that the franchisor has the financial resources to support a franchise network.
  7. Examine the marketplace – is there a market for your chosen franchise's goods/services? Is the franchise operating in a market subject to the economic environment?
  8. Take care with new franchises – has the franchise been piloted, how long has the franchisor been in business?
  9. Check the legal agreement – has the franchise agreement been vetted by a franchise specialist solicitor?
  10. Take your time – however enthusiastic you are, don't be rushed and do your homework

Finance your franchise

• Worried about not having enough cash to start, run or grow your franchise - Read more...

  The first step is to establish how much money you can invest in the business and what you will need to borrow. For an established and successful franchise HSBC will lend up to 70% of the total start up costs. For newer franchises this figure will be 50%.

  To help us assess any request for finance, please provide a copy of your business plan prior to your initial meeting. Your chosen franchisor will often help you prepare this. You can also use our interactive business plan tool.

  How can we help to get your business moving?
  Starting a business
  Opening a Business Account
  Compare Accounts
  Finance and Borrowing
  Cards Processing
  Business Insurance

• Free business support and resources

  Need some help with what to do or where to go next - Read more...

  How to acquire a business? Find out more about the issues around buying another business.

  What you need to know about buying premises

  Our quick start business plan outlines the main points and will give you and others a clear snapshot of your business idea, or where your business is heading.

  Understanding your sector - What's making your market tick and how best to approach it.

  Your finances - Find out how to price your products and services to give you the best chance of success and how to access start-up cash.

  Tips on How to make the most of your bank and Book Keeping support.

  Your plan - Find out how to write a winning plan.

  Featured articles from Whichfranchise.com
  Why buy a franchise?
  Is franchising right for you?
  Franchise Self Test
  Franchise Glossary