Today, we take you back to basics and outline the building blocks of franchising. If you’re considering investing in a franchise, you can use this article to understand and navigate the franchising ecosystem end to end.The franchising industry is booming in the UK.
Starting a franchise unit with a business partner isn’t for everyone. But those who do choose this route to entrepreneurship can share the investment cost, stresses and celebrations with someone else as they build their business. Here’s our guide to franchise partnerships.
If you’re going to lead a network of franchisees to develop your brand, you’ll need to have a strong understanding of the definition of a franchisor. What is expected of a franchisor and what makes a good one? We answer these questions and more in this franchise guide.
offer entrepreneurs the chance to be part of a tried and tested business model without taking some of the risks associated with starting an independent business from scratch.
Growing your business doesn’t have to be difficult if you’re part of a franchise; in fact, many franchisors help their investors set out an ongoing launch schedule from day one. If you’re wondering how to be a multi-unit franchisee in the UK, take a look at our eight top tips for success.
If you’re interested in running your own business, it’s worth exploring the various types of entrepreneurship out there. Franchising provides a proven system and support from an established brand. It can offer the income and flexibility you’re after, with
The pressure is on businesses to disclose how much they pay their employees by gender. Under new legislation, since Spring 2018, businesses with over 250 employees have been legally required to publish their gender pay gap.
Considering running your own franchise? When you choose the franchise you want to invest in, you’ll have to decide whether or not to go for one that’s fairly hands-on.
Maybe you’ve dreamed of being our own boss for many years, but you’ve finally decided it’s time to take the next step. One important and difficult decision is deciding whether to start a franchise or take the start-up route.
If you’re interested in launching or joining a franchise, you probably have a vague idea of the role of a franchisor and a franchisee. But failing to carry out all your responsibilities once you’ve signed on the dotted line could have disastrous consequences - both for you and the franchise.
When you , you want to do all you can to make sure your new business runs smoothly from the outset. Accidents happen; sometimes you can't avoid them, but you take precautions to reduce the risk of your customers, your employees or you yourself getting injured.
Collected data can be a great asset for a business, but keeping customer information safe should be a priority. Understanding how to take care of personal details and adhering to general data protection regulations helps franchisees build relationships based on trust and loyalty.
The cost of moving house is becoming increasingly expensive in the UK. In fact, the average deposit put down is now £33,127 (Halifax). In London, deposits are much higher, at £188,916 (Zoopla), three times the figure paid in 2008. So, it’s no wonder homeowners are deciding to stay put.
Every business owner should take the time to analyse their organisation’s performance metrics. Even if you’re working under a franchise brand, you should still be continually monitoring progress. Here’s how to measure success.
If you’re considering becoming a franchisee, you may have found yourself wondering what the safest franchise option is: a big-name brand or a smaller, more niche franchise. The answer depends on your priorities.
You did everything right. You followed advice and performed your due diligence before signing the . You entered the franchise contract feeling confident that the franchisor had developed a robust system and a trusted and recognisable brand name.
When you start running your own business, you want to avoid potential problems if you can. Joining a franchise can help you mitigate against some of them - but is franchising risky as an investment venture? Let’s weigh up the pros and cons.
Franchises offer fantastic benefits to entrepreneurs who want to set up their own business; they provide access to expert support and help minimise risk. But running a franchise unit comes with its share of complex financial procedures, so hiring an accountant is always a wise move.
If you’re new to franchising, you’re probably wondering what a franchise operations manual is and why it’s so important. In this article, we’re going to take you through the basic elements of one and how it can make all the difference to your franchising journey.
It’s easy to see why franchising appeals to women. The flexibility and freedom that comes with being the boss are hard to find in more traditional employment. This is why women are increasingly leaving their corporate jobs behind and becoming entrepreneurs with the help of the .
Are you coming to the end of your franchise agreement term? If you are - or if you’re just thinking ahead - it’s worth considering the franchise renewal process. Many investors are keen to know whether franchisors automatically renew their contracts and whether there are any franchise renewal fees.
It’s easy to overlook the importance of soft skills when you’re busy running a business - but they play a key role in franchise success. Many people make the mistake of developing their skillset before interviews and disregarding them as soon as work builds up.
We’ve created a list of key franchising questions that will help you find out the important facts when the time comes to start your own franchise unit.
There are lots of benefits of working for someone else. Regular wages, paid holidays, set working hours and generally less stress. But there are some downsides too.
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 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.
