When you take the decision to become a franchisee you have all the benefits of being your own boss but with the backing of a well-established business. Taking the jump from being a well-paid employee to a business owner is not an easy process but by going down the franchise route you are backed by…
read moreFranchising continues to be a key growth industry for the UK economy. It is not just the major UK brands; many SMEs are exploring how a franchising model can help them maximise their business potential. We all know the past 3 years have been some of the most difficult times to navigate through. However, the…
read moreWhen you have built up a successful business and decide the time is right to go down the franchising route, arguably the most challenging task will be to find the right franchisees. The process is very similar to when you are looking for new employees, you want a person that you can trust, that has…
read moreIn order to build an attractive franchise package that will encourage people to invest in your business it is vital to be able to demonstrate that your franchise is viable and profitable. The best way to achieve this is to run a pilot franchise. Not only does the pilot enable the franchisor to establish that…
read moreThe franchise agreement is arguably the most important thing to get right in the whole process of becoming a franchisee. It is normal for an agreement to be written in favour of the franchisor, so it is vital to use a specialist franchise solicitor to review the documentation and explain it to you in plain…
read moreMost people assume that making money from franchising a business comes from the franchise fees. However, this is not the case, in fact usually the franchise fees are a loss leader. The money comes from royalties, the ongoing fees that the franchisees pay to the franchisor on a regular basis as either a flat rate…
read moreSo, you’ve made the big decision to franchise your business but how do you find the right franchisee? To protect your reputation, it is key to have the right people in place, someone who can not only run the business successfully but who will also represent your values and brand. Here are some key points…
read moreDiscovery days are an important business tool for any prospective investor, allowing them to learn more about new franchise opportunities. Franchisors will use discovery days as part of their recruitment process. Getting potential business owners in 1 place, networking with other like minded professionals, giving them a captive audience with the ability to promote why…
read moreAny new entrepreneur will have a big decision to make from the outset of their business ownership journey. Do they set-up a brand-new business from scratch or do they look at buying a franchise. The following are what we see as the key benefits for purchasing a franchise: The business model is already proven to…
read moreWhen exploring the finances required for a new franchise people will often only look at what the total investment is for the franchise purchase, many will forget to include working capital, ongoing fees and VAT. Clearly defining the correct amount of working capital required for any new franchise is crucial to its success. If you…
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