It's easy to assume that because you're buying into an established franchise brand, the hard work of understanding your market has already been done for you. Thorough local market research is one of the most important ingredients in both a successful funding application and a thriving franchise business. Why lenders want to see market research…
read moreWhen you're starting or growing a franchise, having a clear picture of your future finances isn't just helpful, it's essential. Sales and profit forecasting gives you a roadmap for your business, helps secure funding and keeps you focused on hitting the right targets. Here's how to approach it step by step. Step 1 – Start…
read moreSecuring finance for your franchise is all about preparation. Lenders need clear proof that your business is viable, your numbers make sense, and you’re ready to manage the investment responsibly. While many documents can support your application, these four are the most important and usually determine how quickly and successfully your funding is approved. Franchise…
read moreFor any entrepreneur planning to buy a franchise, securing the right finance is a crucial step. The good news is that lenders often view franchises as a lower-risk investment compared to independent startups, but they still have a checklist of criteria they expect to be met. Here’s what we feel are the need-to-know facts about…
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 moreBuilding a profitable franchise business only comes when you have forged excellent partnerships. Clearly the most important is to have strong relationships between franchisor and franchisees but you also must generate the same with suppliers and customers. Having a harmonious approach to all business relationships will help bring success. There are some simple steps to…
read moreThe franchising model is a very popular solution for successful business owners who have a desire to adopt a growth programme, increase brand awareness and boost geographic coverage. The franchisor (business owner) will offer the ability for franchisees to open their own locations and run their own business. The franchisee will become part of a…
read moreTo run a successful franchise business, you must have the right infrastructure in place and essentially, outstanding onboarding and training. Receiving the correct training at the start rapidly reduces the time for a new franchisee to become established and enables them to quickly start to generate revenue (which of course is also of benefit to…
read moreOn 24th and 25th November 2022 we were delighted to be able to attend the BFA Annual Conference and Awards Dinner held at VOX in Birmingham. Showcased as bringing all corners of the franchising community together, it provided a perfect opportunity to learn about the latest innovations, reflect on all the positive success stories and…
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