If you’re thinking of joining us but will need some financial assistance, a small business loan could provide you with the flexibility and security you need to help get your own HR Dept business off the ground.
It can be difficult to know where to start, but a great first step would be to read our blog on Financial Security as a New Franchise Business Owner, which includes tips from our Finance Director, Lian McQuade, on funding options and how to prepare for setting up a business.
Getting a Loan
If getting some funding feels like the right route for you to assist with the initial investment of joining our franchise, or to add that extra layer of ‘cushioning’ and take the pressure off in the first few months, we can help.
Several of our Licensees also took this route when deciding to join us and so we have some handy hints and tips on where to look for funding and how to apply it for it further down the line. Firstly, Transmit Startups are a popular provider among our Licensees for initial investment funding. They deliver a start-up loans scheme to UK entrepreneurs which is a government backed scheme. The benefit to using Transmit Startups is that they have already helped a number of our licensees start their own HR Dept businesses and are aware of our business model, so the process will be even easier for you. There are also no fees charged for obtaining a start-up loan or any of the services associated with it! Visit their website or get in touch with us for more info.
Alternative Funding Options
Alternatively, we’d also recommend researching for funding opportunities in your local area. For example, your local council, Chamber of Commerce, Growth Hub, or Local Enterprise Partnership (LEP) usually have a number of grants, loans or other funding initiatives available. Whether it’s for start-up funding when initially joining us, or for growth and development funding further down the line should you wish to expand, there’s often something for every stage of business.
If you would like to talk through funding options or understand the investment with us further, please call our Growth & Development Team on 0345 208 1120 or download our brochure today for an overview of our pricing structure.