top of page

Funding Application

The evaluation of an individual's funding application by a financial institution, whether it be a commercial bank or a development funding institution, is based on two fundamental principles:

  1. Applicant profile: The financial institution assesses the financial position and conduct of the individual in their personal financial affairs. In certain cases, prior experience in the industry related to the franchise brand, such as the restaurant and hospitality sectors, may be required. The funder also considers the applicant's current lifestyle to determine if the size and profitability of the proposed business align with their expectations and capabilities.

  2. Business opportunity parameters: The genuine opportunity presented by the business, whether it is a new venture or an existing operation, is examined. The viability of loan repayment is contingent upon various factors, including location, projected sales, overhead costs, and other financial considerations.

Consequently, a funding application cannot be processed without comprehensive details of the applicant and a well-developed business plan that demonstrates the capacity of the business to meet its debt obligations. The initial step typically involves applying to the franchise brand, introducing the candidate to specific opportunities. Once the franchisor approves the application, HJ Bosch & Sons Panel Beaters will refer successful applicants to appropriate funders. However, it is important to note that each funder has its own application and approval process.

Upon completing the application process with the franchise brand, the prospective franchisee's application will be submitted to the funder for consideration.

Please be aware that the specific details and procedures of the funder's application and approval process will be communicated once the initial application has been reviewed and approved by the franchise brand.

 

Application Process

To proceed with the application process, it is necessary to submit an online application. Once the application process is complete, the franchisor will provide a comprehensive Disclosure Document in accordance with the Consumer Protection Act.

The application process serves three primary objectives:

  1. Personal information disclosure: It provides an opportunity for prospective candidates to communicate and disclose all the necessary personal information required by the franchisor and the funder. This information helps assess the suitability of candidates for the franchisee role.

  2. Resilience assessment: While the application process may appear daunting or time-consuming, it provides a glimpse into the level of resilience required to own and manage a franchised business. Successful franchisees are expected to adhere to the rules and procedures of the business system. Completing the application process can be considered an introduction to embracing the HJ Bosch & Sons Panel Beaters business system.

  3. Familiarization with the business system: By completing the application process steps, applicants begin to familiarize themselves with the rules and procedures of the HJ Bosch & Sons Panel Beaters business system. This sets the foundation for future compliance as a franchisee.

Engaging in the application process signifies your commitment to exploring the potential of becoming a franchisee with HJ Bosch & Sons Panel Beaters.

bottom of page