Franchising is a great way to expand an already successful venture. With putting up the necessary capital and taking full operational control of their units using your business model, it’s a relatively low-risk growth strategy. You’ll also give your investors a great business opportunity.
The franchise agreement is a legal document, and becoming a franchisee is as much about following regulations as it is about gaining access to a proven model and expert support.
What’s it like to run a franchise business? It’s the question on most prospective investors’ lips. The truth is, it’s likely to be a bit of a rollercoaster ride - at least in the first few months. Make sure you’re prepared for what’s to come with our guide to the ups and downs of franchising.
Franchisors and franchisees work closely together to build a connection based on trust and mutual respect; the success of the business relies on it. So, when disagreements occur, it can feel like a huge setback.
Owning a franchise is a dream for many entrepreneurs; you can take pride in running a business while relying on expert guidance. But what if it all goes wrong? By carefully and objectively evaluating the causes of your franchise failure, you can put yourself in a strong position to succeed.
In successful franchises, the and must develop robust relationships. A franchise relationship management system is important for the growth of a franchise brand, and ensures that franchisees get the most out of the franchise.
The challenging, rewarding and invigorating experience of serving in the armed forces can lead many military personnel to contemplate business ownership when making a career change.
The success of any franchise relies on having enthusiastic and driven franchisees on board. To guarantee that franchisees do their best to operate a profitable business, franchisors should ensure that a comprehensive and engaging franchise support system is in place.
There are several types of franchise agreements to cater for franchisors and franchisees with different ambitions. Here, we’re looking at area development contracts and how they’re used in the real world.
When a franchisor has perfected their franchise formula and crafted a popular and successful brand at home, they might consider expanding into overseas markets. But to do this, they need the support of a master franchisee.
When you become a franchisee, you buy into the franchisor’s business model. Although this undoubtedly has many benefits, it also means you must observe the same processes, rules and procedures as other franchisees in the network.
What is it really like to run a franchise business? The question has probably been on your mind if you’re considering the model. In this article, we’re uncovering the truth about franchising and exploring the things people don’t mention about running a franchise.
Once you’ve signed a franchise agreement, you’re obligated to follow the franchisor’s rules and restrictions, so it’s important to know how to assess a franchise opportunity. Having a robust set of franchise evaluation criteria is key.
Multi-unit franchising is becoming increasingly popular, as investors take on the thrill of owning more than one franchise unit. The system comes with its challenges, but can also provide high earning potential for those who establish a successful business network.
Multi-brand franchising describes the process of running two or more franchise units within different companies. For example, if you manage a McDonald’s restaurant and a Subway outlet, you’re a multi-brand franchisee.
Always dreamed of starting a family-run franchise? Here are four success stories from the world of business that show how exciting and financially rewarding running a family business can be.Running a family business isn’t for everyone, but it could be the making of your career.
Have you found yourself staring at a franchise agreement, scratching your head at all the legal business jargon? Here’s our guide to deciphering franchise contract legalese.Franchise agreements are legal documents, so they come with their fair share of jargon.
The franchise model provides a way to expand your business efficiently, with individual investors spending their money to develop additional branches under your branding. But, as in any system, those involved may come up against obstacles from time to time.
As a franchisee, your business will go through four distinct stages during its franchise growth lifecycle. We’re breaking down each one and offering some handy hints and tips to help you successfully navigate them.
The world of franchising holds enormous potential for current and prospective business owners, but you need a full understanding of the opportunities in front of you if you’re to succeed.
Always dreamed of running a franchise with your family? Here are five reasons why it might be the best decision you’ll ever make, whether you’re a parent planning to pass your business on or a child about to have mum or dad as your co-owner.
Like any business venture, and making it successful requires lots of hard work. From hiring and training staff to aligning your franchise with the operations manual, you’ll have to make sure your franchise business runs like a well-oiled machine.
Franchising gives investors the chance to set up a profitable business with a proven model, but the system involves a bit of preparation. We’ve rounded up some of the most important lessons franchisees have learnt after signing their franchise agreement, to help you get ready for investment.
Running your own business involves a significant amount of dedication and hard work, but what credentials do you need to be considered an entrepreneur? And do franchisees fit under the same umbrella? Here, we explore the difference between entrepreneurs and franchisees.
Whichever franchise you’re joining, having the right insurance in place is essential. Unforeseen events can quickly derail a franchise unit and have catastrophic effects not only on the business, but on its owner and staff too.
Franchise agreements are tough to work through, complex and full of legalese; therefore, it’s a good idea to seek the help of a legal specialist to guide you through this process to ensure nothing slips through the cracks.
Female-run businesses are seeing huge success across the world, and increasing numbers of women are interested in starting their own franchise unit. Here’s everything you need to know about women in franchising.
Brand consistency is a crucial element of any good franchise network. It’s one of the most important parts of buying into a franchise, as that customer recognition factor could help you get your business off the ground in record time. Here is why franchise brand consistency is so important.
Wondering which franchise model is right for you? We’ve analysed the pros and cons of three of the most common franchise styles so you can see which kind of opportunity is likely to suit your lifestyle and goals.Searching for the perfect franchise can be overwhelming.
Not sure if the franchise model is suited to you? Asking yourself ‘how do I know if franchising is right for me?’ Fear not - you’ve come to the right place. This helpful self-assessment will help you work out if becoming a franchisee is the best next step for your life and career.
When you become a mum, it can be difficult to envisage how you’ll keep your independence and carry on earning a living. But running your own business could be the answer.
Worried about being tied to your franchise for life if you invest? While it’s an excellent way to build a business that sees you through to retirement, franchising doesn’t have to mean forever.
Many UK franchises have been around for long enough that their businesses have matured, resulting in a greater number of franchise resale opportunities on the market.
If you’re choosing between a BFA-approved franchise and another one without the accreditation, you might be wondering if there really is such an advantage of selecting the former.
Brexit has prompted considerable uncertainty and concern for the business world, and many entrepreneurs are now facing challenges as they find their way through a changing economic environment. Here’s our guide to the impact of Brexit on franchising.
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