Business Loans...

[Dave^]

where's the best place to go for one.

i need around 25-30k to buy into a franchise.

will i have to get rid of my (financed) car before they'll let me have one? obviously this will be easier, but i need my car....

thanks in advance.....

[Wacky Racer]

Dave^ said:

where's the best place to go for one. i need around 25-30k to buy into a franchise. will i have to get rid of my (financed) car before they'll let me have one? obviously this will be easier, but i need my car.... thanks in advance.....

My advice would be to think VERY carefully before buying into ANY franchise, they are NOT a licence to print money, and for every good one there are 20 bad ones.........

Make sure you talk to AT LEAST four or five other franchisees of the same product, to canvass their views before you even consider plunging in to debt....

I have seen too many horror stories where people have lost their homes etc

However, this is not to say ALL franchises are bad news, there are some good ones out there.......

Just make sure you look before you leap.......

[hedgerley]

There is a lot of online help for finding out about finance - check out any of the Business Link and DTI sites set up to help small business. This is a good place to start [url]www.businesslink.gov.uk/bdotg/action/layer?r.l1=1073858781&r.s=m&topicId=1073858790[/url]

I've raised £235k in the last 12 months from public and government backed schemes for a software start-up and am in the middle of the process applying for another £150k. I should mention that I'm in Scotland and there does seem to be a much better set-up for small businesses up here.

Its there if you have the patience and are prepared to put in the hours planning. Good luck.