A franchise business will need to put in place the right processes so that they can communicate efficiently with all the key stakeholders. In this instance a stakeholder would be anyone that has an interest within the franchise so it can include employees, customers, suppliers, partners and investors. By developing a stakeholder communication plan the…
read moreA successful franchise business is one that has developed an excellent working culture where all staff and associates recognise the importance of upholding the core values, all respect one another and always strive for best practice. This is why any business plan should include a focus on diversity and inclusion. But what really is diversity…
read moreOne of the most important documents for a franchise business is the written agreement between a franchisor and a franchisee. Commonly known as a franchising agreement it will be a formal contract between 2 parties which will set out expectations and obligations for both parties. As franchising specialists there are several questions which often get…
read moreWhen a franchise business fulfils its initial growth plans and starts to explore the next phase in its development, they should be widely encouraged to explore the benefits with territory mapping. Territory mapping is a process which identifies potential new areas that can be targeted for opening new franchise locations. It is an important step…
read moreThe importance of a comprehensive, well-structured and well written business plan should not be overlooked. It is a document that is vital to a franchise business, containing information such as objectives, strategies, projections and analysis. Recognising how crucial a business plan is, both at the start-up phase and throughout the journey of a business ownership,…
read moreChoppaluna is one of the most exciting and innovative food restaurants that has launched in the UK. Originating from Berlin, Germany in 2019 it has since adopted a franchising growth programme, entering the UK market. Currently its portfolio includes 5 locations all of which have opened in London. When entrepreneur Sarfraz Ahmed first heard about…
read moreWith Christmas just 7 days away there is one very important question that a franchise business should ask – “Am I happy with my business strategy for 2024 and are there any gaps in cashflows which will stop this from being initiated?” If the answer to this is “No” followed quickly by “Yes” then the…
read moreThere are several excellent finance solutions available for businesses and entrepreneurs operating in the franchising sector. The most popular choices are secured loans, unsecured loans, working capital loans, asset finance, invoice finance, stock funding and start-up loans. Every franchise need is different which is why it is important to have several options available. Our franchise…
read moreThis time last year we were just coming to the end of our first month trading. A year on and what an incredibly rewarding and successful journey it has been. We have seen excellent growth, introduced some new initiatives and supported several franchisors and franchisees. We are also delighted to be working in partnership with…
read moreAt some stage of running a successful franchise an owner will want to relinquish control and remove themselves from the business. This is why a well-planned and carefully executed exit strategy is so important. Not only does it put the franchise owner in complete control, it helps to secure the future of the business and…
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