Lloyds TSB has recently trained 50 new Franchise Managers
Banking group Lloyds TSB has recently trained 50 new Franchise Managers in response to the growing demand in the franchise sector.
In a perfect world, individuals want the freedom of owning their own business without the worry of potential failure or financial risks. For many, becoming a franchise owner may be the answer. When buying into a franchise, owners have the reassurance of knowing that they are investing into a tried and tested business model.
National bank Lloyds TSB recognised this increasing business trend and has tailored its services to support and assist potential franchisors and franchise owners. With the recent recruitment and training of 50 new Franchise Managers, Lloyds is focusing on strengthening its existing team which supports franchise development across both of the Lloyds TSB and Bank of Scotland brands. The newly trained Franchise Managers will be located in branches nationwide, being accessible to the masses. Ultimately, Lloyds Banking Groups goal is to become the number one provider in the franchise market.
Commercial Manager of North Walsham Lloyds TSB Julie Southin says: "We are very keen to assist prospective franchisors and franchise owners, our door is most definitely open to new or existing businesses." With 25 years of financial experience, 10 of which have been in commercial banking, Julie can see the advantages of expanding into the franchise sector, she adds: "Lloyds recognises that franchising is a safer route for potential buyers, we want franchising and Lloyds to go hand in hand."
With a 90 per cent success rate of applications for franchise loans Julie believes: "Many franchise opportunities offer the investor great potential and the bank recognises this by offering preferential financial and banking support to franchise owners investing in well established and proven business models."
Franchise Development Services (FDS), which has been established for almost 30 years, has worked closely with Lloyds TSB since the company was first founded. Having developed a genuine and respectful working relationship, FDS and the Lloyds Banking Group have combined their knowledge and industry experience to provide the best possible services for the franchise market.
After recent discussions, Lloyds TSB and FDS plan to host franchise seminars in North Walsham for potential franchisors and franchise owners in the North Norfolk area in a bid to raise public awareness of their services and the opportunities that franchising has to offer.
Written by Tiffany Brooking