Advice about finding, financing, buying and running a franchise
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This section provides advice to help you understand what goes into running a franchise. We hope to be able to help you decide which franchise is best for you.
“Franchising: the Pros and Cons” gives you an understanding of what are the Benefits and Drawbacks of buying a franchise. This features real life examples from franchisors as well as existing franchisees. This will help you assess whether or not you are suited to running a franchise and whether you possess the right skills and personality that is needed.
“What’s it all about?” explains the difference between setting up a franchise as opposed to a completely new business. There is a brief history of how franchising started and general information on the common misconceptions about franchises. There is also useful links to major industry bodies such as the “British Franchise Association” and the “International Franchise Association”.
“How Franchisees Are Selected” gives you tips and advice for what franchisors look for in a franchisee and the relevant qualities required. It explains how the franchisee relationship needs to work. This includes what the franchisor expects and requires in terms of Handling pressure and how the franchisee would cope with the Independence versus compliance aspects, which both parties need to consider.
The Uniformity and equality section explains that the franchisee should be vigilant in how the franchisor wishes to operate, as this will have a direct effect upon the working relationship.
There is also a page containing a video to “Finding the Right Franchise”, which is the FranchiseSales Chairman Marcus Markou provides tips to choosing the right franchise.
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Franchising marketplace: a snapshot
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Top Ten Tips on Choosing a Franchise
- The benefits of the franchise model have been well established, but how do you decide which franchise is right for you? Suzie McCafferty, international development director of Smart Cartridge, one ...
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How Franchisees Are Selected
- Working as a franchisee for a franchise means that you are working in partnership with another business. Different franchises look for different qualities in their franchisees. Certain franchise opportunities also ...
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Franchising: the Pros and Cons
- Buying a franchise is, in many ways, the easiest way into the business world for the budding entrepreneur. But it also means sacrificing a degree of independence and control - ...
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Franchising: what's it all about?
- In essence, franchising is a means of growing an established business through the licensing of its business format and brand to an individual business person. The entrepreneur then owns a ...
