franchisee

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... »

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. ... »

Becoming a Franchisee

Franchising has many advantages, not least the chance to set up in business using a tried-and-tested formula. However, before you invest time and money, you need to review the options and make sure it’s the right choice for you. This guide looks at: Becoming a franchisee Choosing the right franchise Is franchising right for you? Researching a franchise opportunity The pros and cons of franchising Professional advice Useful contacts Becoming a franchisee You will normally have to pay the franchisor for the right to set up in business under their brand name and in a specific location. Ongoing costs may include: A management service fee or royalty. A contribution to the advertising fund. A mark-up on goods supplied by the franchisor. An administration fee for specific services provided.... »