With many financial institutions tightening lending policies, it’s harder for some people to access the finance they need just by walking into their local bank branch. While many of those people give up their search for the correct financing options, others seek help from specialist loan companies and brokers to help them obtain the credit they need.
The increase in popularity of finance and credit brokers across the UK in recent years is a clear indication of the rising demand from customers who need help to secure the correct finance options. It’s estimated that mortgage brokers garnered almost 70% of the home loan finance market by the end of 2015 and that figure is still increasing.
Your choice of loans franchise options are varied, from entering into a popular mortgage broker franchise to specialising as a credit broker for smaller types of consumer loans. There are also options available for those who prefer to help struggling customers regain control over their financial situations, such as debt consolidation loan franchises or even focusing purely on helping customers secure the right car finance in a car loans franchise. Joining an established franchise business means you have the independence of being a small business owner, but you’re also supported by the benefits a big business network can offer. The franchisor takes care of brand recognition and marketing, so you’re providing a service that your customers already know and trust.
When you buy an established loans franchise, you don’t need any prior experience in the finance industry. The franchisor provides full training and access to a full operating manual, complete with detailed procedures and business methods so you always know what’s expected of you.
It’s estimated that around 50% of new UK business start-ups fail within five years. By comparison, buying a loans franchise from an established brand reduces the risk of failure, as you’re following a tried and true business model based on a proven idea.
If you’re ready to take the next step and get started in your own franchise business, get in touch!