Match Options, a specialist healthcare recruitment business, has signed a funding line agreement to assist franchisees in the early stages of their business launch.
Match Options has signed a credit line with 4Syte Funding, who are backed by Aldermore bank, to enable franchisees to have access to working capital from day one when they generate their first invoice.
“Most franchisees find it difficult to access working capital since they are normally new companies without a financial history,” explains Michael Celestine, Match Options' Operations Director.
"Our experience is that franchisees are very hard working and are exhausting their initial projected working capital very fast. We are very pleased that 4Syte were able to put in place a facility that addresses this constraint. As long as our new franchisees are able to settle down fast and start generating revenue, funding is available from day one, reducing need for high injection of their personal funds.”
Celestine adds: “This new funding agreement only increases the appeal of our franchise offering. There has never been a better time to consider starting a healthcare recruitment business. There is an acute shortage of qualified health staff across the board in the UK, so organisations need help finding quality staff. The care sector is also one of the fastest growing markets in the UK, and this trend can only continue. There will be an extra five million people over 65 in the next 20 years. This is a huge challenge, whether they are being cared for at home or in a hospital or in a care home environment.”
Paul Barker, Commercial Director at 4Syte Funding commented: "The current funding market requires funders who are responsive to their clients’ needs. Funders should be flexible and able to come up with a bespoke solution that fits a particular situation. We are happy to support the Match Options franchise network in their fast growth within the market."
Match Options has been successfully operating in the healthcare sector since 1999, providing high quality services to the local communities that it works in. There are currently seven company-owned branches and four franchisees throughout the UK. With the huge market potential on offer, the company is now seeking additional franchisees who are committed and passionate about growing the business throughout the UK.
Committed to the highest ethical standards, Match Options is a provisional member of the British Franchise Association, a full member of the Recruitment & Employment Confederation (REC) and members of the United Kingdom Homecare Association. They are also registered with the Care Quality Commission for the provision of domiciliary care.
Investment in a Match Options franchise starts at £25,000. In addition, working capital of £40,000 is required, which brings the total investment to £65,000. Bank funding of up to 75% may be available subject to status. Management fees are 20% of gross profit and this fee is deducted after the cost of sales, so that the franchisee can retain more of their margin- making them more competitive and therefore more flexible for their clients.