Financing a Jim’s Group franchise

Jim's Group is the largest franchise in Australia, with over 3,000 franchises, and it is the largest home franchise business in the world.

The company was founded by Jim Penman in 1982 as a lawn care business, became a franchise in 1989, and now offers franchises in over 50 service industries.

If you're looking to become a franchisee with Jim's Group, find out how it works and learn about your funding options below.

What is a Jim's Group franchise?

A Jim's Group franchise is an option for those looking to operate a small business without having to build it from scratch. You can purchase a Jim's franchise in a range of service-based industries and then pay an ongoing franchise fee in return for support from the franchise group. You choose how and when you work and are responsible for running the business yourself.

Each division is a semi-autonomous business that is part of Jim's Group, but comes with its own uniforms, logo, training and marketing.

There are over 50 franchise options available, including the following:

How much does a Jim's franchise cost?

Given the wide range of service industries offered as part of Jim's franchising, the costs will vary depending on the franchise you choose. If you want to open a franchise in a particular industry, you can apply for a quote through the Jim's Group website to get an idea of the cost of that specific franchise.

Along with the initial franchise purchase price, which will generally be in the tens of thousands of dollars, you will have to pay a flat monthly franchise fee as well as a small fee for every job lead you receive through Jim's.

How to apply for a Jim's franchise

Once you have decided on the franchise you wish to open, you can apply for a quote on the Jim's Group website. The application process will vary depending on the type of franchise you apply for.

For example, you will need to follow the steps below to apply for a Jim's Mowing franchise:

1. Register on the Jim's Mowing website to receive a franchise information kit.
2. Book a one-on-one consultation with the franchisor.
3. pend a day on the job with an existing Jim's Mowing Franchise.
4. Discuss your business options with the franchisor.
5. Complete the training course in Melbourne.
6. Organise an ABN, bank account, PO Box and police check.
7. Arrange for documents to be issued on the business you want to purchase.
8. Sign up and start your business.

How to compare finance options

If you want financing to help purchase your Jim's franchise, you may be able to use a business loan. When comparing your options, you should consider the following:

Loan amount. Make sure the loan you are applying for will cover the amount you need. As well as the initial franchise purchase price, you may need finance to fund any additional equipment, training or other costs associated with setting up the franchise business that are not covered by Jim's. However, it is important that you do not borrow more than you need to ensure you don't have to pay unnecessary interest.

Interest rate. The rate you receive on your loan will help determine the size of your repayments. As with any loan product, you should compare a range of options to find the one that is best suited to your needs. You should also consider any additional fees or charges that you may have to pay as part of the loan.

Type of loan. You can choose either a secured or unsecured business loan. A secured business loan requires you to use an asset, generally your property, as security against the loan. You will usually receive a lower rate than on an unsecured business loan, but the lender may be able to take ownership of the asset if you fail to repay the loan. If you are not approved for a business loan, you may be able to use a personal loan to finance your franchise, although this will depend on the lender. You may also be able to use a business line of credit to cover the costs of starting your franchise.

What to consider before applying for finance

Is a Jim's franchise right for me?

While opening a franchise may be a good idea for those with little experience running a business, you should always consider both the benefits and drawbacks of a franchise before making a decision. Opening a franchise can offer more support and help streamline the process, but you will have less control over how you run your business compared to opening your own small business, and you will have to pay upfront and ongoing franchise fees. You should research your franchise options and look into starting your own business to see which suits you better.

Can I afford the loan?

When applying for a loan, you should always make sure you have a plan for how you will pay it back. While a franchise may promise regular work and contracts, you should also take into account any potential cash flow issues when working out how to repay your loan.

Compare finance options

Sort by:

Name	Product	Min. Loan Amount	Max. Loan Amount	Loan Term	Upfront Fee	Filter Values
Moula Business Loan		$5,000	$250,000	1 to 2 years	2% Establishment fee		A loan of up to $250,000 that can be approved and funded within 24 hours. Available to businesses with 6+ months operating history and $5,000+ monthly sales.	Go to site More Info	Compare	loading Fetching your data...
ebroker Business Loan		$5,000	$5,000,000	1 month to 30 years	$0 application fee		Small business loans available between $5,000 and $5,000,000. Get access to 70+ non-bank lenders on this independent platform.	Enquire now	Compare	loading Fetching your data...
Max Funding Unsecured Business Loan		$2,000	$30,000	1 month to 1 year	$0 application fee		An unsecured business loan from $2,000 that offers convenient pre-approval and no early repayment fees.	Go to site More Info	Compare	loading Fetching your data...
Valiant Finance Business Loan Broker		$5,000	$1,000,000	3 months to 5 years	$0 application fee		A Business Lending Specialist from Valiant Finance can give you access to competitive business loans from over 70 lenders. Loans between $5,000 and $1 million are available. Request a call – your loan can be funded in 1 business day.	Enquire now	Compare	loading Fetching your data...
OnDeck Business Loans		$10,000	$250,000	6 months to 2 years	3% of loan amount		Apply for up to $250,000 and receive your approved funds in one business day. Minimum annual turnover of $100,000 and 1 year of trading history required.	Go to site More Info	Compare	loading Fetching your data...
Prospa Business Loan		$5,000	$300,000	3 months to 3 years	3% origination fee		Small business loans are available from $5,000 - $300,000 on terms of up to 3 years. At least twelve months trading history and a monthly turnover from $6,000 is necessary.	Go to site More Info	Compare	loading Fetching your data...
Westpac Business Loan		$5,000	$1,000,000	1 to 30 years	$0 application fee		Purchase a new vehicle, equipment or support your cash flow with a business finance solution from Westpac.	Enquire now	Compare	loading Fetching your data...
ANZ Secured Business Loan		$10,000	$10,000,000	Up to 15 years	$600		Benefit from a low rate when you secure this loan with property and/or business assets. Loans from $10,000 available.	Enquire now	Compare	loading Fetching your data...
ANZ Unsecured Business Loan		$10,000	$1,000,000	Up to 15 years	$600		Apply for a loan from $10,000 with no security required and benefit from flexible repayment terms.	Enquire now	Compare	loading Fetching your data...

loading

Compare up to 4 providers

Clear selection

Compare

Picture: Shutterstock