Any entrepreneur wanting to take their first steps into business ownership should always look to see if the franchising route would be a viable option. If we look at some of largest economies, say Australia or USA, they have a large franchising network. This is simply because they are not concerned with failure, they know…
read moreEarly preparation in terms of business exit planning is crucial if a business owner is going to maximise their earning potential. Often when looking at the value of a business a typical model will be to look at annual profit and then multiply by 1 to 2 times its value. In reality, the business will…
read moreHere are just a few of the most common franchising frequently asked questions: Why own your own franchise? Take control of your career, be your own boss and run your own business but do all of this whilst being part of a well-established and recognised brand who can support you every step of the way.…
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 moreOnce you’ve taken the plunge to become self employed by purchasing a franchise, it can feel like it has taken an awful lot of hard work to get to this point. In truth though, the hard work is only just beginning. Until now you have had support and guidance from many people, now you may…
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 moreHaving built up a successful business, many owners are keen to see it continue to grow but are not necessarily sure how to achieve that. One of the options available is to franchise the business, but there are several key points that must be considered by new franchisors if they are contemplating franchising their business.…
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…
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