Getting into business for yourself can be a highly risky and time-consuming endeavour. But it doesn’t have to be that way, especially if you’re interested in buying a business with a proven track record, a profitable business model, a solid reputation as well as existing customers. Yes, we’re talking about buying a franchise.
But what is a franchise and how does it work?
Essentially, a franchise is a type of business that is already established and has units for sale in different locations. You would buy the franchise and be responsible for providing the same high level or quality of products and services that the main franchisor provided when they started out their business.
The benefits of franchising are numerous. Here are a couple of them for you to consider:
If this sounds good to you so far, there’s even more for you to consider. One thing is the independence you’ll have when running your own franchise business. You’ll be responsible for hiring your staff, so if people skills are your forte, you’re in luck!
Another element is the issue of how to actually get started. While there are many franchise opportunities available on the market, you’ll need to invest some time in doing your research in order to choose the franchise that best suits your personality, lifestyle and pocket. Technically, you only need one franchise opportunity to catch your attention and you’re basically ready to begin.
But first there are some things to consider. For example, what type of research will you need to do before you get started? Some factors you should keep in mind are the following:
Talking about the costs, it’s important to consider that there isn’t one single cost that you pay upfront and voila! You’re a franchisee. Given the nature of this very special business relationship, you’ll also need to consider several other ongoing fees that you will be charged. These include:
Keep in mind that the franchisor-franchisee relationship entails a deep commitment from both parties to make the business work. On the one hand, the franchisor would like to see their brand expand to different locations, while receiving a share of the profit. On the other hand, the franchisee would like to get as many jobs done so that they can turn over more revenue. Since both parties have these vested interests in the process, it’s beneficial for there to be effective communication when the relationship is first established. This is why it’s crucial to do your research beforehand and to ask as many questions as possible before you get started so that you have a clear picture of what you’re getting into for the next five to 10 years.
So, now that you know that franchising is for you, how do you find a franchise? This one’s easy to answer. Why? Because you get all the resources on how to find a franchise right here!
There’s a wealth of information for you to digest in easily manageable chunks to make your decision an easy one. Choose from franchises that offer training and ongoing support, or choose a franchise that offers you funding opportunities. Better yet. Why not choose a franchise that offers all this together with funding support to meet your budget. Sounds good, doesn’t it?
We’ve prepared this resource for you which contains a wide range of franchise development services to help you take your business idea and turn it into reality. Whether you are interested in selling products to your customers or providing services to them – from home maintenance services to care services for the elderly – find your passion and go with it.
Franchising is something you’ll never look back on as it’s a proven way of earning a living while doing something you enjoy. Don’t get us wrong, it’s not always going to be a bed of roses. You’ll need the right attitude to embark on this journey. But if you have the dedication and long-term commitment to this venture, you’re practically ready to get started. And why wait? Did you know that 60% of franchises in the UK earn over £250,000 a year? Now that’s impressive!
So, what are you waiting for? Go ahead and browse all the different franchise opportunities we have available and decide on which one you think will be best for you. And if you have any questions, don’t hesitate to get in touch with us to help you make the ideal choice. With a proven track record in the industry, we’re here for you every step of the way. Here’s to day one on your journey to owning your very own franchise!
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The Travel Franchise was founded in 2010 by the team behind the celebrated company Not Just Travel. Its mission is to provide franchise opportunities for aspiring travel agents who want to take control over their careers.
Founded in 2009, Fantastic Services has grown from humble beginnings to become a highly regarded global enterprise with over 500 franchisees.
Established in December 2016, TechyTots is the first and currently only franchise in the UK to offer children aged three to 10 the opportunity to learn coding skills
With a Kerb Appeal franchise, you can take advantage of an exceptionally well-known brand in the industry.
Betterclean Services is a franchisor who operates in the commercial cleaning industry offering its services to a plethora of businesses across the UK.
Tappy Toes is a dance-and-move franchise that was established in 2005 in the UK and which has expanded further afield to Dubai in the UAE.
The story of The Wheel Specialist goes back to 1955 when it was an auto services family-run business called Lap-Tab.
Established in 1999, Premier Education has over 22 years of experience in franchising.
The Mooboo Bubble Tea brand was established in Camden, London, in 2012. Just two years later in 2014, the brand opened its first franchise store in Liverpool.
The Pass the Keys franchise programme was launched in 2019 and over the past five years, the group has expanded from just one to over 80 destinations in the UK
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