Franchise Opportunity FAQ

istock_faq-000023858332_full-150x150These are the most frequently asked questions about our franchise opportunity

1)  What level of support does IBC provide?

IBC provides comprehensive pre and post-launch training, with marketing support and materials.  In addition, there is:

  • A full suite of operating documents, templates, aides-memoire, spreadsheets and analysis tools
  • A database of over 270 non-bank independent & specialist lenders
  • A cloud based operating system for your client files, email, tasks and calendar
  • A comprehensive, online manual to help you run your business, covering topics such as; setting up, growing your business, legal & regulatory matters, IT and computer security, accounting, case handling, managing clients, dealing with lenders, administration, and recruiting employees

We also provide day-to-day support and advice and are always there at the end of the ‘phone should you need anything.

However, we do not provide training on how to lend money; we assume you come from a business lending background and have that knowledge already.

2)  What kind of working relationship can I expect to have with you?

We have a very open and collaborative relationship with our franchise owners.  We work as an extended team and are there to help them with the day-to-day practicalities of running of their businesses.  We hold regular team meetings to give everyone a chance to share experiences and learn from each other.

3)  Does the IBC business model work and what is its track record?

Yes, it does.  We have been refining our business model since we started in 2000.  It worked well during the periods of ‘easy money’ in the early 2000’s and during the credit crunch and subsequent recession.

4)  When/how am I paid?

Your clients pay you direct.  How much you charge is at your discretion; however, we will provide you with guidelines on what to charge, and when to charge it.  There is also a credit control procedure for you to follow.

5)  How much working capital do I need to start up?

You will need enough to cover your investment and initial training, plus enough to cover your normal living expenses until you are up and running – between three and six months as a guide.  We can discuss this with you in more detail.

6)  Is this opportunity right for me?

If you can answer ‘yes’ to any of the following questions, then this opportunity could be right for you:

  • Would you like to put an end to targets, demanding bosses and internal politics?
  • Does the thought of a better work/life balance appeal?
  • Do you like the idea of having your own business and being your own boss?
  • Do you also want to be part of a successful and supportive team?
  • Are you confident that with the right motivation and guidance, you will be successful?

7)  What is my exit strategy if it does not work out?

Each franchise is for a minimum 5-year term.  You can sell your business to someone else, although we must approve the buyer first.  If you know how to lend money and are good at dealing with people, then as long as you follow our system and put in the required effort, you should do very well.

8)  Do I need to have experience of working in the banking sector?

Yes.  Working with banks is our speciality, so you need to understand how they work and have the credibility to be able to deal with them.  This means you must be a trained and experienced business lender.

9)  Do I have to pay a deposit?  If so, is it refundable?

Yes, there is a small deposit to pay and whilst this is non-refundable, you do not pay it until the later stages of our recruitment process.

10)  Do you provide any training; if so, is it free?

We provide comprehensive pre-launch and post-launch training on how to run your IBC business, which you pay for as part of your initial investment.  We do not offer training on how to lend money; you must already be able to do that.

11)  Would I be able to sell my franchise?

If necessary, you are entitled to sell your franchise to someone else, although we must approve the purchaser first.

12)  Can I speak to some existing franchise owners?

Yes, of course.  We feel it is only fair that you can ask their opinion as part of your due-diligence.

13)  What is the growth potential of a franchise?

Based on our experience:

  • Working alone – when established you should achieve £60,000 p.a. minimum
  • With administrative support – from £80,000 p.a.
  • With client management support – £150,000 + p.a.