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Buying a franchise in the UK in United Kingdom
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Franchising in the UK
The concept of franchising involves buying into a business concept that has been tried and tested.
As a franchisee, you will run your own business, but with the support of a wider network, often a very recognisable brand, and proven systems and pricing structures. The product or service you provide will have a proven market.
Working for yourself, but not by be yourself is probably the most succinct way of describing the concept of franchising.
A company with an established, market has chosen to expand not by employing more people, but by granting franchisee a licence to operate ( as a separate business) under the umbrella of the franchisor.
There will be a franchise fee ( to buy into the license) and there will be a payment due to the franchisor on a monthly basis. This usually involves a percentage of takings or profits.
There are many types of franchise available on the market:
- Accountancy & Financial
- Automotive Franchises
- B2B Franchises
- Business Consulting
- Business Opportunities
- Business Training
- Care Franchises
- Children Franchises
- Cleaning Franchises
- Coffee Franchises
- Computer Franchises
- Courier Franchises
- Dating Franchises
- Education Franchises
- Event & Wedding Planning
- Fitness Franchises
- Food Franchises
- Gardening Franchises
- Golf Franchises
- Health & Beauty
- Home Care Franchises
- Home Improvement
- Home Services Franchises
- Internet Franchises
- Magazine Franchises
- Merchandising Franchises
- Mortgage Franchises
- Pest Control Franchises
- Pet Franchises
- Photography Franchises
- Print & Sign
- Professional Services
- Property & Estate Agency
- Recruitment Franchises
- Retail Franchises
- Safety & Security
- Sports Franchises
- Travel & Leisure
- Vending Franchises
- Home Based Franchises
- Part-time Franchises
- Van Based Franchises
- White Collar Franchises
The benefits of buying a franchise are many:
You will not have to re-invent the wheel. A good business format franchise will have been successfully trading and will be able to demonstrate the potential market to new potential franchisees.
You will not have to worry about branding and pricing structures. This will be in place, with the mistakes already made by the franchisor, so you won’t need to repeat them.
You will immediately be put in contact with trusted suppliers, and have a ready-made network of colleagues in the same business as you.
You will have the active support of the franchisor. He/ she is there to support you in your new business venture, and remember – the more successful you are, the happier they will be.
Before investing in a franchise opportunity, be sure to do as much research as possible. Speak to a legal adviser before signing any contracts.
A good place to start will be the local franchise association.
The British Franchise Association can be contacted here:
Address: British Franchise Association, 85f Milton Park, Abingdon, OX14 4RY
Telephone: 01235 820 470
www.thebfa.org
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