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Roger_banister
Posts: 21 Forumite
Hello there.
Please could somebody give me some advice ?
I am looking in to obtaining a franchise at a cost of £100,000. Trouble is I am not sure on the best way to finance this. I have about £130,000 equity in my home. I could remortgage and then possibly go to the bank for the rest ( if they would let me ). I understand banks are likely to offer a loan if it's a franchise rather than a brand new start up business. My bank said I would have to raise a third of the franchise cost. Any suggestions please ?
Please could somebody give me some advice ?
I am looking in to obtaining a franchise at a cost of £100,000. Trouble is I am not sure on the best way to finance this. I have about £130,000 equity in my home. I could remortgage and then possibly go to the bank for the rest ( if they would let me ). I understand banks are likely to offer a loan if it's a franchise rather than a brand new start up business. My bank said I would have to raise a third of the franchise cost. Any suggestions please ?
0
Comments
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Borrowing's tight, you have no track record in this business, and franchises aren't always as good as they're cracked up to be ...
Sorry, but unless you can borrow from family the advice would be to save like fury! Which is probably not a lot of help, because you wanted the franchise to make some money so that you CAN save ...Signature removed for peace of mind0
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