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Are you ready to explore the inclusive and welcoming world of franchising?
Welcome to our Franchising For All campaign, proudly sponsored by Citation. This transformative BFA Digital Marketing Campaign is geared towards enlightening the UK audience about the dynamic world of franchising while championing Diversity, Equity, and Inclusion (DE&I). Through compelling real-life narratives and collaborative investments, we’re opening doors to new opportunities for prospective franchisees. This campaign’s core mission is to promote DE&I within the business landscape by showcasing inspiring stories from franchisors and franchisees with diverse backgrounds and experiences.
What Is Franchising?
Franchising is a unique business arrangement consisting of a franchisor who owns the brand and business system and a franchisee who, under a franchise agreement, operates using that brand. Franchisees pay an initial fee and ongoing fees in exchange for comprehensive training, continuous support, and access to proven business models. This model offers a low-risk investment opportunity, with a failure rate of less than five percent over five years compared to non-franchised businesses, and it caters to diverse entrepreneurial aspirations, providing a supportive community where success is more attainable through shared strength and resources.
Why Franchising?
Franchising offers compelling reasons for aspiring entrepreneurs. The tight-knit community within the franchise industry fosters invaluable support and knowledge sharing, enabling franchisees to tap into the wisdom of both their franchisors and peers. With a 93% profitability rate among franchisees, the reduced risk and access to various funding options make franchising an attractive venture. Moreover, franchising provides the flexibility desired by those seeking a better work-life balance, particularly for women juggling family responsibilities. From children’s activities to virtual assistance and dog sitting, the diverse opportunities within franchising cater to a wide range of passions, offering a path to business ownership for those with dreams but limited confidence or funding.
Diversity, equity & inclusion in franchising
Franchising serves as a powerful platform for fostering diversity, equity, and inclusivity within the business world, creating a welcoming and collaborative environment where varied perspectives and backgrounds contribute to innovation and success. Embracing DE&I in franchising not only supports mental well-being, enhances productivity, and cultivates happiness but also sets a precedent for promoting inclusivity as a fundamental principle of business and society.
When thinking about diving into franchise investment, there are some important things to mull over. First off, take a moment to consider if you’re genuinely passionate about the service or product the franchise offers, as your enthusiasm will be your driving force. Next, think about your rapport with the franchisor; it’s crucial to have a positive and collaborative partnership with them. You’ll also want to chat with existing franchisees to get the lowdown on their experiences and the support they’ve received.
How do I know if the franchise is right for me?
Once you are confident franchising is right for you, the fun part is here: choosing which franchise is the perfect match. When choosing a franchise, you must do your due diligence. From thoroughly checking the franchise agreement with a specialist franchise lawyer, to speaking with existing franchisees, you really can’t do too much. When considering which brand is right for you, keep in mind the 3 Ds:
Discover your passion – what makes you tick? Determine what it takes – you are looking for a positive work-life balance, is this going to allow you to have the flexibility you are looking for? Due diligence – ask questions to your franchisor, the network of franchisees, the experts (us!). Most franchisors will be only delighted to see you making sure the investment is right for you!
Discover the heart and soul of our Franchising For All campaign as we put the spotlight on our passionate brands. These remarkable businesses not only thrive in their respective industries but also wholeheartedly support Diversity, Equity, and Inclusion (DE&I) in the world of franchising. Hear their inspiring stories and learn how they’re paving the way for a more inclusive and equitable business landscape. Join us in celebrating diversity, empowering entrepreneurs, and fostering a brighter future for all.
Read expert articles from our legal and financial advisors on how to kick start your business adventure.
Since their inception in 1995, Citation has been a stalwart in the world of compliance and legal support services. As a Times Top 100 Company, they’ve been the trusted partner for over 50,000 UK businesses, providing a comprehensive suite of services encompassing Health & Safety, HR, Employment Law, and more. Citation has an impressive track record of working with businesses of all sizes, from individual franchisees to sprawling franchise networks, always with a shared goal: ensuring unwavering compliance. Their expertise lays the foundation for peace of mind, enabling businesses to flourish. In a world where legal pitfalls can be treacherous waters, Citation is the compass that guides your franchise towards success, reducing the risk of costly legal entanglements. With Citation by your side, you’re not just in business; you’re in business with confidence and compliance as your allies. We extend our heartfelt gratitude to Citation for their invaluable support as our campaign sponsor.
©2022 The British Franchise Association
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