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Buying the best business for you

At CFI we love helping people kick-start their dreams of running their own business. One of the things we're always keen to know is 'Why is this the right business for you?'

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Aaron worked in his family's tyre business in his late teens and early twenties, before moving to New Zealand. Whilst Aaron's always loved working on cars, what he really wanted was to run his own business.

Fast Facts

Aaron wanted to buy a business. A Bridgestone franchise was the perfect opportunity for him.

  • Aaron was not a property owner
  • This would be Aaron’s first time as a business owner / manager
  • Some prior experience helped us understand why this business was a good fit
  • As a franchise business, the training and support of the franchisor helped to get Aaron started

The Scenario

Aaron had experience in the tyre sales / repair industry and good mechanical aptitude. He’d been working two part time jobs when the opportunity to acquire a Bridgestone franchise came up.

The Positives

  • Aaron had relevant experience and demonstrated his motivation and work ethic with his current jobs.
  • Bridgestone is a proven franchise network offering all of the appropriate support and training to get new franchisees started.
  • Aaron and his wife had a good saving history and were able to invest a reasonable amount of saved funds into the business purchase.
  • As an existing business within a respected franchise network there was no big ramp-up required to be able to service their commitments.
 

The Challenges

  • Aaron didn’t hold any formal mechanical qualifications
  • The business had limited tangible equipment to offer as security
  • Aaron and his wife were not property owners
  • Running their own business would be something new to them but they believed in their skills to make it work.

The Results

CFI was able to approve Aaron’s finance and facilitate his purchase of the business. The entire process was done on-line and paperless, so was able to fit around Aaron’s other commitments without him having to take time out. 

Names in this case-study have been change to protect customer privacy – Learn more

Case Study Callouts

Prior industry experience helped CFI understand why the applicant wanted to buy this business

A respected franchise network offered training and stability

Not being a property owner wasn't an impediment to getting a loan from CFI, even for a brand new ABN.

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