Beyond the compulsory levels of business insurance you’re required to take, if you’re running any business it’s important that you have cover in place to protect your investments within the business.
Getting the right insurance for franchises means securing your risks with a protection package to ensure you are adequately protected. Creating the package can be time consuming and complex, but working with an experienced broker means you can be confident of the correct advice without the hassle.
You will want to protect your business and its assets for its own sake, not just the franchisors. You’re running a business in its own right, and ensuring you have adequate protection for your people, stock, contents, tools and equipment as well as any other liabilities and assets should be a priority.
We work closely with our franchise clients, getting to know their unique business challenges and pulling together the various covers for them. We work with leading UK insurers and can provide a quote that’s designed for your business.
The franchise protection package can cover any of the following:
Provide money to repay all loans and debts
Provide working capital to ensure ongoing operation of the business
Provide money to the franchisees family if the franchisee passes away
Commercial motor trade insurance
Goods in transit cover
Legal expense cover
Cyber liability cover
Public liability cover
Benefits for the Franchisee
Preserves and protects any money the Franchisee has invested in their business
Repays all externals creditors
Settle’s the remaining Franchisee fee’s
Protects the franchisee's family
Benefits for the Franchisor
Protects product distribution and business growth
Secures repayment of any loans from the Franchisee
Provides capital to temporary management and continuation of the Franchisee’s business
Planning for your future, whether for the expected or the unexpected, makes sense. Taking some time to consult with your insurance provider will provide you with the best advice on what coverage is most appropriate for you and will ultimately allow peace of mind regardless of what may be around the corner. If you need any specific, expert advice contact our partners TF Financial