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Franchise Opportunities: Financing

Financing the Purchase of a Pirtek Franchise

All sales of Pirtek franchises are resales hence you will be acquiring an existing business.

The nature of the purchase could be either an acquisition of business entity including all assets and liabilities or it may be an asset purchase only. 

All Pirtek franchises operate from a Centre that acts as a base for support staff, holds stock and has facilities for assembling hoses for customers using the trade counter.  The property is usually leased which will need to be transferred to the new franchisee.  The stock and other assets will all need to be purchased.

Pirtek is primarily a mobile service and all franchisees operate a fleet of vans that act as mobile workshops.   Some franchisees lease the vans, hence a transfer will be needed, whereas others prefer to purchase.  Again the stock and equipment will need to be purchased by the incoming franchisee.

The size of Pirtek franchises varies from two vans up to 10 hence the cost of acquiring the business will vary significantly.

Pirtek UK abides by generally accepted guidelines concerning the value of franchises.   It is important to Pirtek UK that any outgoing franchisee receives a fair price for their business and it is also important that an incoming franchisee does not overpay for a business as the franchisee could then struggle to meet financing obligations.

As Pirtek is an established and respected franchisor with very few franchise failures the UK banks will typically loan 70% of the total cost of acquiring a Pirtek franchise.   Hence a prospective franchisee will need to raise 30%.   Typically this will equate to between £70,000 and £100,000 of cash that needs to be raised but as above this could be considerably higher for the larger operations.  

Throughout the process the Pirtek UK Commercial Manager will be available for assistance.

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