Franchise loan for buying an Outback Jack's Bar & Grill

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SanFierro
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Joined: Tue Feb 09, 2016 9:13 am

Franchise loan for buying an Outback Jack's Bar & Grill

Postby SanFierro » Tue May 10, 2016 12:12 pm

I'm a few months away from starting my own restaurant and I just found out that there is finance available if I want to go for an Outback Jack's Bar & Grill franchise business. I actually want to start a restaurant business because of how much I loved Outback Jack's food and the business itself. I'm still doing a bit of planning and researching so it would be great if someone could explain just a few of the features of this franchise loan. Thanks in advance.

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Otto Dargan
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Re: Franchise loan for buying an Outback Jack's Bar & Grill

Postby Otto Dargan » Tue May 10, 2016 2:14 pm

Hi SanFierro,

Outback Jack's Bar & Grill has strong business fundamentals which you can use for a better chance of getting approved for finance then if you were to try and finance a restaurant of your own.

Depending on your situation, there are lenders that can allow you to borrow between 50% to 60% of the total franchise costs for a new or an existing Outback Jack's. If you can use an existing residential property as security then they can even go up to 100% of the property value.

The loan term is typically 10 years or the length of the franchise agreement, which is usually tied to the lease term. However, if you use a residential property as security, you can get a longer loan term anywhere between 25 to 30 years.

If you want interest only, then the typical term is up to 2 years. Lenders won’t do low doc options with franchise loans and you'll need to provide an account-certified business plan and profit forecasting to the lenders.

The good news is that some lenders can offer reduced commercial loan interest rates and higher Loan to Value Ratios (LVRs) depending on the strength of your loan application. So borrowing the amount you need at a sharp interest rate is all about choosing the right lender.

Call us on 1300 889 743 or complete our our online enquiry form for a free, no obligation assessment and discover if you qualify for an Outback Jack’s franchise loan.

Cheers,
Otto
Otto Dargan
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P | 1300 889 743
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SanFierro
Posts: 4
Joined: Tue Feb 09, 2016 9:13 am

Re: Franchise loan for buying an Outback Jack's Bar & Grill

Postby SanFierro » Tue May 10, 2016 6:18 pm

Fortunately, I do have a residential property which I can use as security so it will definitely be great to borrow 100% for 25 years. I haven't completely made my decision yet and will continue researching. I'll call or place an online enquiry if I'll go for the franchise loan.


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