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Business basics

Latest Business basics articles

Welcome to Business Basics. This page is your go-to guide for understanding fundamental business concepts. Perfect for beginners, you'll find easy-to-understand explanations and practical tips.

Published at 17/06/2023

Navigating The Pillars of Corporate Social Responsibility (CSR) in the Franchising Business

Successful Franchise

Published at 16/03/2022

3 Tips for Building a Business Plan for a Successful Finance Franchise

Successful Franchise

Published at 05/03/2022

5 Tips for Building a Business Plan for a Successful Recruitment Franchise

Kids industries

Successful Franchise

Published at 18/02/2022

4 Tips for Building a Business Plan for a Successful Childcare Franchise

BFA

Successful Franchise

Published at 10/02/2022

4 Tips for Building a Business Plan for a Successful Dog Training Franchise

Beauty Industry

Successful Franchise

Published at 02/02/2022

5 Tips for Building a Business Plan for a Successful Beauty Salon Franchise

At the heart of every successful franchise business is a well-executed business plan.

Published at 05/06/2021

Is Your New Business Idea Really Worth Pursuing?

Starting a new business can be a difficult process. When you’re building up a brand from scratch, you don’t have an established business model to fall back on, and you don’t have the support of an expert franchisor. All the risk that you take on is yours alone.

Published at 08/05/2021

Business Basics: How to Operate as a Sole Trader

If you’re a self-employed person running your own business, you automatically become a sole trader. Some business owners and franchisees will choose to remain sole traders in the long term, while others will choose to set up a limited company or some other kind of legal enterprise.

Published at 03/05/2021

Business Basics: How to Setup a Limited Company

Whether you’re running a franchise or running your own business, the basics can be tougher than they seem. Figuring out how to setup a limited company can be an intimidating process, with many different technical terms to wade through, so we’ve put together a simple guide to help you through.

Published at 01/05/2021

Business Basics: Tips for Becoming a Payroll Pro

Payroll is an integral part of running your own business, and running it smoothly. Paying your employees correctly and on time is an absolute must, so if you have employees, you NEED a successful payroll processing system.

Published at 29/04/2021

Business Basics: Tips for Becoming an Invoicing Pro

A successful invoice ends a project on a high note, ensures timely payment, and potentially even secures future work. With our simple set of tips for successful invoicing, you’ll be hitting the mark every time in no time at all.

Published at 03/04/2021

What Challenges to Expect During Your First Year as a Franchisee

Your first year as a franchisee is likely to be very exciting and daunting in equal measure. It can be tricky to adjust as life to a franchisee, particularly if you’ve never spent time as your own boss.

Published at 02/01/2021

New Year’s Resolutions: Expand Your Business With Franchising

Running a successful business? If you’re a keen entrepreneur, expansion plans are likely to be on your mind. Kicking off 2021 by creating a new business or setting up operations in a different location is an effective way to bring in more profit for your business - and your bank account.

Published at 25/12/2020

12 Reasons Why Anyone Can Run a Franchise Business

Are you interested in becoming your own boss but apprehensive about getting started? We believe there’s no reason to delay your investment, because anyone can run a franchise business.

Published at 06/12/2020

Franchisor Tips: How to Ensure Your Franchise Is Cyber Secure

No business is immune to security breaches. Large firms are attractive to cyber criminals for their huge volumes of data, while smaller companies are easy targets, due to limitations in their IT systems.

BFA

Business Leaders

Published at 22/11/2020

National Entrepreneurship Month: 7 Business Basics to Master

Interested in running your own business? November is National Entrepreneurship Month, so we’re exploring the seven business basics everyone should master before they become their own boss.There’s no shame in feeling overwhelmed by the thought of starting a business.

Published at 06/09/2020

Franchising 101: Managing Redundancy Like a Pro

No business owner wants to make staff redundant, but if worst comes to worst, you need to know how to handle the process efficiently, professionally and compassionately. We’ve listed the 12 steps you need to take when managing redundancy.

Published at 18/08/2020

Franchising 101: How to Build a Budget For Your Franchise (Part 2): The Steps You Need to Take

In this Franchising 101 article, we take a look at why tracking your expenses and building a budget is so important and how to build a budget that leads to long-term success.It’s widely considered in the business world that before you can make money you need to know how you are going to spend it.

Published at 11/08/2020

Franchising 101: How to Build a Budget For Your Franchise (Part 1)

Learning how to build a budget for your franchise is one of the most important things for any new franchisee to get to grips with. A good business budget is one of the cornerstones of managing your finances.

Published at 31/05/2020

Easy Hacks to Solve These 4 Common Business Pain Points

If you’re constantly blighted by the same business pain points, it can divert your attention from growing your franchise. In this article, we’re going to share some simple solutions for business problems that will make running a successful business so much easier.

Published at 04/06/2019

Franchise vs. Independent Business: 5 Things to Think About Before Investing

Deciding whether you’ve got your heart set on running your own business or running a franchise can be tough. So, we’ve created a run-down of some of the biggest differences between the two business models. It should help you make an informed decision and choose the right path for you.

Published at 17/05/2019

Top 5 Reasons Franchises Fail

Originally posted on 04/11/2017. Updated on 17/05/2019.There is an abundance of benefits to choosing the franchise route when starting your own business. You will be working under an established brand with an existing customer base, and proven business and operating model.

Published at 14/04/2019

Franchising 101: 6 Top Contributors of Franchise Failure

Every businessperson wants to avoid failure. Here, we outline some of the main reasons franchises fail and how you can take steps to make sure your venture is successful.

Published at 28/03/2019

The Economics of Running Your Own Business

Running your own business can be tough, especially when it comes to managing your finances. So, we’ve pulled together all the information you’ll need to learn more about how to make a business profitable and take home a good salary.

Published at 18/03/2019

Is There Really Such a Thing as a Joint Venture Franchise?

Whether you’re new to the franchising world or a seasoned professional you might be interested if there is really such thing as a joint venture franchise. Let’s find out.

Published at 30/08/2018

Thirteen Reasons Why Franchising Could Be Right for You

In the UK, franchising is becoming an increasingly popular business model. As more and more business-minded individuals start their own franchise units, we thought we’d take a look at 13 of the top reasons they might be doing so. --1.

Published at 21/08/2018

The Big Question: Franchising or Starting an Independent Business?

If you want to be your own boss, you better be ready to make important decisions. The first decision you'll need to make is whether you start an independent business or sign up for a franchise. Each is a unique experience and both will involve you running your own organisation.

Published at 20/08/2018

Product or service business: Which one’s best?

As in the wider business world, franchises can be divided into two different groupings. There are those that sell products, and those that sell services. While these two different types of franchise share a number of similarities, they can be quite different.

Published at 19/08/2018

Five Ways That Franchisees Can Get Over the Fear of Failure

Fear can have an incredibly negative effect on . It can prevent you from making the right decisions, stop you from taking calculated risks, and have profound effects on your attitude and mindset. In business, a small amount of fear is healthy. However, too much fear is likely to hold you back.

Successful Franchise

Published at 10/08/2018

4 Elements of a Successful Franchise

There isn’t one recipe for a successful franchise, but many of the world’s biggest and most successful franchises have lots of things in common. In this article, we’re going to take you through four of the key traits of a successful franchise.