Fiducia Commercial Solutions - Frequently Asked Questions
1. How do I get leads?
You will be responsible for your own lead generation. This is why a Fiducia Commercial Solutions Franchise would be suitable for someone who has some good local business connections whether that be solicitors or financial advisers and accountants who will refer clients to you or clients that you have previously dealt with.
Having to find your own leads is quite hard but this is why we have set the average
completed deal mark at one deal per month. This is a much more realistic target to aim for than many of the other franchises out there. It gives you ample time to build on your introducers and other connections as well as writing the business.
2. How realistic is a minimum net profit of £45,146 in the first year
As you will see from our examples in the financial section £45,146 is what we suggest you will earn as a minimum in year one if you only do commercial lending and do not take advantage of all the other avenues that you can explore such as commercial insurance, life cover, director share protection etc. which you can do by referring into Fiducia Comprehensive Financial Planning Limited. We have suggested that you complete one deal per month to achieve this level of income but as time goes on you will find that this is quite low and you will probably do double this.
3. What do I do if I need help with the tracking and sourcing system or would like to chat through certain elements of my franchise with someone?
You will have a good support structure in place and a dedicated Franchise Support Manager who will be introduced to you at your training course. This person will keep in regular contact with you. You will be able to contact them to discuss any aspect of your business.
Here at Fiducia Commercial Solutions we believe that you are only as good as the people around you and we like to offer as much support to our franchisees as we can.
4. How much is the Franchise Fee and what is included in it?
The Franchise Fee is £21,950 + VAT and it includes the right to trade under the name of Fiducia Commercial Solutions for the term of the Franchise Agreement, a four day residential training course, start up stationary pack, software licences for Optimus Commercial™ and the tracking system, laptop, data protection registration, Consumer Credit Licence, Professional Indemnity Insurance, annual membership to the National Association of Commercial Finance Brokers and ongoing support and guidance. Basically everything that you need to get started. (click here for the full package)
5. What other fees are involved?
We charge a 12% management fee (minimum of £5400) of which you will pay a fixed amount of £450 per month. It will be reviewed quarterly and any outstanding will be settled annually.
6. What happens if I want to recruit staff?
We will help you recruit staff should you wish to expand. All new staff will need to be vetted by Fiducia Commercial Solutions. You can train them yourself or for fee we will do that for you. You will need to purchase additional Software Licences for any additional staff and these will be at a cost of £2500 + VAT. For Licences and a four day training course we will charge a much discounted fee of £5000 + VAT.
7. How much admin will there be?
Our processes have been refined over the years by our team of brokers. They do not waste time completing any unnecessary paperwork. The tracking system, that they have designed, will help you do it.
8. What demand is there really for commercial brokers?
More and more people are beginning to realise that their bank that they have been
loyal to for years is not necessarily going to offer them the best lending rates. With the cost of borrowing on the increase, especially in today’s market, clients want to get the best deal possible and are prepared to pay for someone to find them the correct loan. (click here for more information)
9. What makes you unique?
No other franchise can offer you access to Optimus Commercial™, the UK’s only
commercial lending sourcing system. It does all of the leg work for you and provides you with a list of lenders that would be interested in the deal that you have on the
table. It does this at the touch of a button.
10. Who would be a perfect fit for this business?
We will not allow just anyone to buy a Fiducia Commercial Solutions Franchise. It would ideally be suited to someone who has a business/financial background and good contacts to use as a source for leads.
We want to make sure that everyone who trades under the name of Fiducia Commercial Solutions has what it takes to be successful and add credit to the already highly regarded name.
If you are self motivated, have a desire to succeed and enjoy a sales environment you are half way there.
11. How does the Fiducia Commercial Solutions Training compare with other
commercial lending franchises?
Our training plan has been designed by people who are specialists in their field of business. The Commercial Brokers at the master Franchise have been involved with all aspects of the training plan. This means that no stone has been left unturned. Each section has just the right amount of depth to it so that you can leave the course knowing that you have been given the tools to succeed. We have not tried to cut our training down to save money. We think that it is essential that you are fully trained and really understand how to achieve your personal targets.
12. How does your sourcing system and tracking system compare with other commercial lending franchises?
Our proposition is head and shoulders above the competition as no one else can offer our sourcing system, Optimus Commercial™. This sourcing system allows you to remain in control and offer your client a seamless service in one go. You are not reliant on a handful of preferred lenders. The sourcing system allows you to source your lending across the whole market and therefore get the best deal for your client. It also allows you to give an efficient service as you speak to the lenders yourself and you are not reliant on someone else sourcing the lending for you. It takes time to pass all the relevant information to someone else for processing and important elements get lost. You are in the best position to talk to the lender as you have the information from your client first hand.
The tracking system allows you to keep full records of your cases and an up to date cash flow forecast. You don’t need to replicate information and transfer it from one spreadsheet to another it does this for you.