Your dream of setting up a franchise business may have been sidelined until now due to various reasons. However, it is now time to turn your ambitions into reality. A franchise grants you the opportunity to run a micro-business under the umbrella of an established brand. Starting a franchise is also an excellent way to penetrate new market segments and enjoy increased revenue. However, every business venture requires a proportionate amount of capital. The expenditure involved in taking off a franchise business includes more than just working capital. There is also the need for financing to cover inventory and royalties. This is where a Franchise Finance Loan can help you wade through the financial hurdles and get to the top as a franchise owner.
A franchise business is a contractual agreement shared between a renowned brand and a franchisee.
It is a co-partnership wherein both engaged parties avail mutual benefits.
It enables an entrepreneur to start a new business without having to build a brand from scratch.
The franchise agreement is signed for a predetermined period.
Every financial company evaluates your profile carefully before granting you credit, including a Franchise Finance Loan. Some of the key parameters include:
Your business background and viability
The period you held your previous business or job
Your overall financial stability
The above factors play a major role in determining your success in availing of a franchise business loan. To increase your chances of getting one, you can follow the below tips to strengthen your profile.
Explain how you will leverage your work experience and skills to make the business successful.
Provide detailed information such as the target market and location.
Introduce the management teams and the expected employee strength.
The amount required in capital and how it will be used.
Financial details on bank accounts and holding assets.
The franchiser is the best point of contact when trying to figure out anything related to the business. All reputed franchisers offer assistance in the form of employee training and capital offering. However, the capital offering will most likely not fulfill your complete requirement, and you will have to get an additional loan from a financial company. Nonetheless, additional guidance from the franchiser will help you prepare when applying for the franchise finance loan.
Availing of a franchise loan through Bajaj Markets is extremely convenient. All you have to do is follow the listed simple steps:
Visit the Bajaj Markets business loan webpage.
Check the business loan eligibility criteria.
Fill up the online application form with your details, such as your name, age, income, and more. You must also furnish details about the loan amount required, loan tenure, and current city.
Submit your application with all the relevant documents to complete the process.
Once the loan application is verified and approved, you will receive the funds in your bank account typically within 24 hours.
You will have to present some documents to support your Franchise loans application. The essential documents include:
Detailed business plan or blueprint
Latest bank statements (preferably last six months)
ITR and sales tax copies
A simple application process with quick disbursal
Flexible loan terms
Affordable interest rate
High-value loan amount
A good business loan works exceptionally well in establishing your entrepreneurial endeavours. It helps you build a strong standing within the market and realise your dreams faster. Check your prospects of getting a franchise business loan at Bajaj Markets to obtain the best deals.
Yes, it is possible to get a franchise loan with low credit through Bajaj Markets. Connect with our representatives to evaluate your prospects.
Yes, at Bajaj Markets, you can avail a flexi facility that allows your greater savings. The flexi options include convenient repayment, flexi interest payments, and more.