Buying a franchise is often a much more affordable way of starting your own business. Whilst the initial outlay may appear higher, the benefits of the proven business model coupled with the package you should receive from the franchisor means that in the long run, you’re saving money. But with a Well Polished franchise starting from £9,995 + VAT – how can you join our network if you don’t have enough cash for the up front purchase cost?

If you’re looking to become a franchisee but don’t have that kind of cash, don’t despair. Around 50,000 franchises are currently operating across the UK, with many under 30s, stay at home parents and low-paid employees making the leap every year despite their lack of funds. There are also lots of loan and grant options available to entrepreneurs across the UK, meaning financing a franchise on a shoestring has never been easier.


Before applying for finance


Whilst there are numerous financing options available, it’s important to ensure that you have a fully considered business plan before jumping head-first into a loan. Many franchisees make the mistake of scraping together just enough for the franchise purchase, but then not considering the necessity for working capital.

It’s true that with many franchise packages, your overheads / outgoings for the first few months can be minimal or even non-existent. However, that doesn’t mean to say you don’t need financial stability from a personal perspective!

Woman sitting at desk with laptop looking pensive

Most (honest) franchisors will tell you that a full time focus on the franchise is the best way to ensure success, so this will potentially mean giving up your previous job in order to dedicate your time to your new fledgling business. This raises the question – how will you pay for your household bills and lifestyle? Franchises are historically more likely to yield a profit quicker than a start-up, but this doesn’t happen overnight.

A good franchisor will work with you during the ‘buying stage’ to help you understand what costs you need to consider, and how quickly you can expect to hit a certain income level. Here at Well Polished, we have a handy performance projection calculator that can show you your potential earnings over a 3-year period.


Funding options


First and foremost, enquire with your chosen franchise about any existing finance links it has already established. The franchise may have already built a relationship with a bank or a funding provider, meaning you can access preferential rates and terms on your lending agreement. If not, franchises are often viewed more favourably by banks when it comes to approving a business loan, so it’s likely that you’ll be able to secure funding from a leading bank relatively easily.

Here at Well Polished, our chosen funding partner is Transmit Start Up Loans.

Most high street banks, including Lloyds Bank, NatWest and HSBC, have specialist franchise departments, as it’s common for them to provide funding to franchises.

Couple having a meeting at a bank

There are a range of funding options available, so do your research into the one that works best for you and has an interest rate that is ideally suited for your business’ needs. You could apply for a secured fixed rate or variable start-up loan, or short-term assets finance and leasing.

How much you choose to borrow really depends on your personal situation and whether you have any savings or other capital available. As we mentioned before, it’s always worth considering your working capital and potentially increasing the amount you borrow to cover your costs for the first few months or year of business.




There are also several grants available to businesspeople across the UK who are looking to become their own boss. Many of these don’t need to be paid back or will afford the borrower much better repayment terms than traditional business loans.

There are currently 38 Local Enterprise Partnerships (LEPs) across the country which have been set up with the core objective to support and encourage businesses at local level. LEPs forge a unique alliance between the public sector and local businesses, and have a significant and positive impact on society.

It is possible to apply for grants through the government if you meet certain criteria. You can apply through the UK Government, Scottish Parliament, or the Welsh and Northern Ireland Assemblies and grants will be approved by each individual provider. Check out for more information on the grants and loans available in your local area.


Consider a resale


One option with many franchises is to buy a resale as opposed to a brand new territory. A resale is normally a territory or business that another franchisee has ran for a period of time and then for whatever reason, has decided to exit the business. With most franchise agreements, you have the option as a franchisee to sell your franchise at any point. The best resales will mean you are effectively buying an operational business with monthly income already being generated – this means that whilst your initial franchise cost may be higher (to take this monthly income into account), you will have no issues with working capital.  The business should be in a position to already pay you a wage from day one!

Click here to view our available territories and resales.


Talk to your franchisor


When you’ve chosen a franchise you’d like to invest in, speak to your franchisor about funding options. Whilst many franchises won’t offer direct funding or payment plans, there is often a ‘deal to be done’ if you have a proportion of the franchise fee available, and a clear plan in place of how you can pay the remaining balance as soon as possible.

If you would like to chat to us here at Well Polished regarding funding your franchise, please click here to book in for a discovery chat.