Poolwerx franchise finance
Learn how to apply for and finance a Poolwerx franchise.
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Poolwerx was founded in 1992 and is now the largest pool retail and maintenance business in Australia, with over 150 stores and over 500 mobile service units. If you're looking to own a Poolwerx franchise, find out how they work, how to apply and compare loans now.
How does a Poolwerx franchise work?
Poolwerx is a pool and spa maintenance business that operates using a franchise model, meaning potential business owners can purchase a Poolwerx franchise and run it as their own business.
You can choose to buy an existing Poolwerx franchise from another franchisee, open a new mobile franchise or even convert your existing pool business into a Poolwerx franchise. However, all franchise partners are expected to transition towards a retail store and also be personally involved in all aspects of the business.
You receive full training, including 40 hours of online tutorials as part of a Certificate III in Swimming Pool and Spa Maintenance. You will then complete three weeks of in-house training, followed by a 12-month Forming Good Habits program.
If you want to start a mobile Poolwerx franchise, you will need to use a Hyundai iLoad van.
How to apply
- Register your interest online
- Complete your franchise application
- Take part in a video meeting
- Attend discovery day at Poolwerk training facility in Brisbane
- Sign your disclosure document and conduct due diligence
How much does it cost?
A Poolwerx franchise can cost from $110,000 to more than $500,000, depending on the marketing area, location and size of the franchise.
You will need to pay an initial franchise fee to purchase a Poolwerx franchise and will then pay ongoing service and marketing fees based on your turnover.
How to finance a Poolwerx franchise
While Poolwerx has established relationships with a number of Australian banks, most franchisees will need to obtain a business loan themselves in order to finance the purchase. As a Poolwerx franchise is likely to cost upwards of $100,000, you may consider the following finance options:
Secured business loan. A secured business loan requires you to use an asset as security against the loan. This is generally a residential or commercial property, which the lender can take ownership of in the event you fail to repay your loan.
Unsecured business loan. Unlike a secured loan, an unsecured business loan does not require you to provide an asset as security. As the loan represents more risk to the lender, you are likely to receive a higher interest rate as well as smaller loan amounts.
Franchise loan. Some lenders may offer business loans specifically for franchise purchases. As a franchise business is generally a less risky prospect than a new business, lenders may be more likely to provide finance.
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