buying a franchise

Should You Franchise Your Business?

Should You Franchise Your Business?

Simply put, franchising is a business model which looks to expand a business idea and its goodwill by licensing the right to use its trademarks (IP) and brand to an independent entity whilst also providing an operating system and support.  There are many benefits to franchising but what is involved and is it the right option for you? Why would you franchise your business? It can be an effective way to grow your business brand when you do not have the capital or personnel to expand yourself. Accordingly, a franchisor can indirectly invest in its business and spread the financial risk, but share the gains and knowledge of a successful commercial idea. As such franchising can be a very cost-effective route for scaling-up a business, provided that you can demonstrate that your business is succ... »

A Small Business Guide to Franchising

A Small Business Guide to Franchising

If you’ve caught the entrepreneurial bug but you are less enthused by the considerable risk and uncertainty that comes with starting a business, a franchise may be for you. Buying a franchise allows you to set up your own business, but with the backing of a proven business model behind you and support, training and assistance from an established franchisor. However, franchises are not risk-free. Just as with any business, failing to do your homework could see your whole venture tank, however bullet-proof the model seems. This article will give you an introduction to franchising from the perspective of a novice, giving you the basic knowledge needed to start looking for a franchise that suits you. We cover the advantages and drawbacks of buying a franchise, then move on to how to select and... »