Buying a loan franchise involves a lot of considerations that cover critical aspects like reputation and brand, checking if the company is established or new, cost and financing provisions, training, and support, as well as determining its location and spread.
These considerations and more help in choosing what option to go for. Of utmost importance is finding out what the best loan franchises are. This can be daunting, especially if you’ve had no prior experience or idea. However, we’re here to be of help.
If you’re reading this, you’ll find all the information regarding some of the best loan franchises. These are identified and briefly discussed. Besides the options provided, you are further responsible for researching your preferred choice.
Loan Franchise Opportunities
In your search for a suitable loan franchise to join, you’re likely to come across specific names, such as those mentioned below. Again, we reiterate the need to conduct further research to determine if it’s best for you. Some top names include American Title Loans and Your Mortgage Plus.
Other options include Commercial Finance Network, Broker Plan Academy, Motor Mortgage, ACE Cash Express, Inc., and Wirth Business Credit. There are more options like Centum Financial Group, Quick Cash, Payroll Corp, Pay2day, Fastbucks, Rapid Cash Advance, and Crown & Gleeson Business Finance.
More loan franchise opportunities include Family Financial Centers, Cash-X, and Cash Plus, Inc., Let’s discuss each of these as follows.
i. American Title Loans
This franchise specializes in issuing fast and easy auto loans. To buy this franchise, you need at least $300k in liquid capital and a minimum net worth of a similar amount. The total investment required is also $300k. Franchisees get training and support with financing for veterans.
ii. Your Mortgage Plus
This loan franchise offers you a whole range of support when you join. These support services include comprehensive business training, guaranteed success pledge, day-to-day business support, and commercial finance training. You also get regular ongoing training seminars and quarterly franchisee meetings.
iii. Commercial Finance Network
This loan franchise provides various financial services, including asset finance, business loans, buy-to-let mortgages, and HMO finance. Others include bridging finance, commercial finance, and development finance. Is this the right franchise opportunity? It depends on what you find out.
iv. Broker Plan Academy
What services does Broker Plan Academy offer? They include super broker, commercial finance, regulated mortgages & insurance, insurance, and ancillary services. How attractive is this franchise opportunity? You’ll have to contact the company for that and more.
v. Motor Mortgage
Are there good reasons to join this growing loan franchise? There are! They include getting the opportunity to offer products your customers want, having a service that complements your business, access to the franchisor’s cutting-edge technology, and using a simplified franchise model, amongst others.
vi. ACE Cash Express, Inc.
This financial services retailer came on board in 1968. However, it only began to franchise in 1996, thus welcoming investors to its fold. ACE Cash Express specializes in financial services like check cashing, short-term consumer loans, bill payments, and prepaid debit card services.
vii. Wirth Business Credit
To join the Wirth Business Credit franchise, you’ll need an initial investment of $40k to $75k. Other financial requirements include a franchise fee of $35k, while financing is offered to qualified franchisees. To help you succeed, Wirth Business Credit provides robust support and training to new and existing franchisees.
viii. Quick Cash
Quick Cash is another loan franchise that specializes in and offers many financial products and services like pre-paid master cards, money orders, notary service, money transfers, auto title loans, payday loans, fax service, and cash service. To join, you’ll need a total investment sum of $100k.
ix. Payroll Corp
This is another loan franchise you can buy for an initial investment of $69k to $328k and a franchise fee of $10,000. Payroll Corp offers franchisees a term of agreement of 10 years, subject to renewal upon meeting basic requirements. Franchisees enjoy ongoing support and training.
x. Fastbucks
Fastbucks is a financial services company that started franchising in 2003, 5 years after it was founded. To qualify for this opportunity, franchise candidates must have investments of $125,000 and a franchise fee of $27,500. Benefits include low investment & overhead, minimal equipment, few employees, etc.
xi. Rapid Cash Advance
You may also find this loan franchise option attractive. Like most discussed, franchising opportunities are offered to interested and qualified candidates. Of course, the financial requirements are a major part of the ownership requirement. You may want to research what it takes to join the franchise.
xii. Crown & Gleeson Business Finance
Crown & Gleeson Business Finance provides all finance-related services, including business and investment loans. It was founded in 2002 and began franchising the same year. How do you know if this is the right franchise opportunity? Simple! You need to research and ask questions.
xiii. Family Financial Centers
This is a respectable financial services company that offers a wide range of services, including loans. It presents you with an opportunity to become part of its family while benefitting from its robust business model. You can learn a great deal about its operation by simply filling out and submitting the online form on its site.
xiv. Cash-X
Joining the Cash-X franchise requires a cash investment of $50,000 and a franchise fee of $25,000. New and existing franchisees get all the support and training they need to operate their franchises. You’ll have to check whether Cash-X is an ideal franchise and whether it has what you seek.
xv. Cash Plus, Inc.
You can join this successful loan franchise by applying for its franchise opportunity. Services include payday loans, check cashing, cash plus prepaid MasterCard, and title loans. Before choosing this franchise, it’s necessary to know what its existing franchisees think.
Compiling a list of some of the best loan franchises gives you a headstart in finding a suitable franchise to invest in. Also, your preference, financial preparedness, and understanding of the opportunity will determine the action taken.
The above-listed loan franchises are just a few of many others that offer investment opportunities to willing and prepared investors. As always, it’s necessary to consistently perform independent checks before committing your investments.
