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Want to escape the 9 to 5? Be your own boss? Balance work with family life? Invest your redundancy money? There are so many reasons why people choose to franchise. And – while we never pretend that it’s not hard work – the benefits can be considerable.
• In business for yourself – but not by yourself. You’ll be supported by a franchisor head office team
who want you to succeed. And you’ll be part of a network of like-minded individuals who are
sharing the experience with you.
• A proven business model. Every single BFA member franchisor has an established business model
that you can replicate in another location. While your success can never be guaranteed, a proven
business model will give you the best possible start.
• A lower failure rate. Over 40 percent of new standalones will fail. Compare that to franchising,
where only 5 percent of new franchisee start-ups don’t make it. Your franchisor has already met
the challenges and overcome them, so you won’t have to.
• An opportunity for everyone. Franchising is excitingly diverse. At The BFA we’ve welcomed new
business owners of all ages and from all backgrounds, as well as more women than ever before.
Whether you want a flexible, part-time opportunity or the beginning of your business empire,
franchising can open the door.
• Fuel your passion. Restaurants and cafes, pet care, education, sport & fitness, health & beauty,
business coaching – franchising provides business opportunities across an amazing number of
sectors. So why not turn the thing you love doing most into your career?
• Invest in your future. Never forget that buying into a franchise is just the beginning. Many
franchisees hand over to family members or sell their businesses for a profit when they’re ready
to retire or explore pastures new.
• Is your prospective franchisor a BFA member? All BFA franchisor members uphold the European
Code of Ethics, reassuring you that their brand has a proven franchise model and sustainable
practices.
• How does the franchisor support their network? What ongoing training and business support
does the franchisor provide once you are a franchisee? How will they support you to achieve your
business goals?
• How do existing franchisees feel? Franchisors should always be happy for you to speak to their
network before making any decisions, and provide you with contacts. Speak to their existing
franchisees to get their views.
• Is it a good financial fit? Initial franchise fees and monthly working capital costs will vary
depending on the opportunity. Are you able to afford the outlay? Also, when are you likely to make
a profit and will it be enough for the lifestyle you’re hoping to achieve? It’s vital you enter any
agreement knowing all the hard facts.
• Does it fuel your fire? We can’t emphasise this enough. Being your own boss is hard work, but
doing something you love will make your commitment feel worth it.
©2022 The British Franchise Association
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