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... »

Franchising: Is it a Viable Business Option for You?

Franchising: Is it a Viable Business Option for You?

If you’re thinking of buying into a franchise, you’re in good company. Many entrepreneurs are attracted to the idea of getting marketing support, legal advice, and a proven business model, so they can focus on what they’re really good at: growing a business without worrying about administrative headaches. The franchise model is fairly simple. You make a payment to become a franchise partner. Then, you pay an annual fee and a percentage of your profits. In exchange, you get training, marketing and administrative support, and access to useful information to help you grow your business. This article looks at the three key benefits of franchises, and also three reasons why a franchise might not be for you. By the end, you’ll probably have a better idea whether a franchise is the right option. ... »

Best Franchise Businesses Compete for £5k Prize

Franchisors are being urged to nominate their most successful franchise managers for a £5,000 prize, following the launch of the British Franchise Association (bfa) awards. The bfa Franchisee of the Year awards, sponsored by HSBC, recognise innovative franchisees ? such as those who have taken steps to improve their customer care or achieved growth despite the challenges of a difficult economic climate. Franchisors can nominate five franchisees each, with one nomination per region with the five regions listed as: London/South East South West & South Wales Midlands & North Wales North Scotland & Northern Ireland One overall winner will receive a £5,000 cash prize from HSBC along with a commemorative trophy. The second- and third-placed franchisees will receive £... »