A successful conversation with your financial institution in the success of your business start-up is crucial. The preparation for this discussion is therefore of paramount importance. Usually it helps of the franchisor. A mature franchise concept can increase the chances significantly to lending and financing for your start-up project. So you do not blame yourself, you must be as entrepreneurs inadequately prepared, keep the following points, in regards to the preliminary conversation with the bank.
The business plan is in cooperation with the franchisor and the written report of the franchise concept is the best preparation for the bank. He is the principal basis. You should know the strengths and weaknesses in order to present the concept honest and convincingly. The development potential of the franchise concept should be part of the business plan and serves as a persuasive means for the bank. Ask the right person – for example, those responsible for start-ups. In addition, send him to the business plan of the bank. The contents conversation should focused on key points. A disadvantage would be here, if you read the entire business plan just. Important addition to technical or professional knowledge here is marketing, sales or financial planning expertise. Also, make sure that your language, your appearance and your clothes fit you and your projects. An installer must not appear in the suit. In contrast, however, you should dress appropriately, when you need later represent in business life.
If you may feel safer with a known people in your area, you can also take a person you trust to bank interview. In some cases , you can be accompanied by the franchisor.
Your concerns and the concept should be very well presented.Also, pay attention to your language. Do not be too scared and shy. You can use technical terms, if they are well suited but you have to ask your adviser about it. After talking for the funding decision, the savings bank or bank needed depending on the amount of credit, you will have to wait a few days or a few weeks.