You’ve set your heart on going into business for yourself. So, you could simply go it alone. But sadly, a high proportion of new small businesses fail. For the right person buying into a franchise can be a safer alternative.
If someone is already running a strong business that can be replicated by others, then they can become a franchisor. This means they allow others to start new businesses by operating under their brand and benefiting from collective reputation and recognition together with all training, tools, equipment, systems and processes.
All BFA members have undergone a substantial accreditation process review to achieve their membership. With this in mind, you can expect honesty and transparency throughout your exploration process and when in business with them.
You do not need to know how to run a business to become a franchisee. One of the main benefits of being a franchisee is that the franchisor will complete training and provide you with the tools to hit the ground running. You can expect to receive support from them throughout your entire franchising journey. You are in business for yourself but not by yourself!
Always remember that with a franchise you’re buying a business opportunity, not a job. Even as a supported franchisee, your success will still demand determination, tenacity and dedication. Being the boss of your new business will be hard work. So be sure you choose a sector you have a real love for!
Assess your own position
Do you have the money to invest?
Learn about franchising
Research the industry you are looking at
Evaluate the individual franchise opportunity
Talk to existing franchisees
Take good financial advice
Identify a specialist franchise lawyer
All that research will give you every chance of success. Now commit to buying into your chosen franchise.
So franchising isn’t for you.
That’s ok – its better to find out now.
Then our introductory course and webinar for potential franchisees ‘Invest in a Franchise’ is perfect for you.