The positive outcomes when franchising a business can be endless. A franchisor can reach across the full spectrum of business types, ranging from a small independent shop to a large corporation. Franchising a business can result in the development of a brand across multiple locations throughout the UK, with extensive financial rewards. However, as a…
read moreWe can probably all agree that there is more and more uncertainty when it comes to trying to plan for your financial future. In recent months we have seen the cost of living rise drastically and after regular monthly outgoings there is often very little spare to put aside for long term savings. A standard…
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 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 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 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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