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Find the Right Franchise Opportunity for You

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:

  • Proven business model: with a franchise, you’ll be working with a proven business model that’s not only well-established but profitable, too. This helps you establish your business in a much easier way as you don’t have any of the start-up considerations to think about.
  • A strong support system: franchise owners take good care of their franchisees by providing them with strong support from day one so that you can deliver the service to the highest quality standards. There’s also ongoing training that you’ll receive, working with some of the best in your industry.
  • A well-known brand: no more costs associated with marketing and advertising from scratch as your franchise owner has already taken care of this. This means you’ll work with a strong, established brand with a well-known reputation. It will then be up to you to ensure this reputation is maintained with every service you provide or product you sell.
  • An established customer base: the beauty of franchising is that the franchisor already has a steady stream of existing customers that you can have access to. This means you don’t need to start from scratch and try to build up word-of-mouth advertising. Your customers are there, ready and waiting for you!
  • It’s easier to fund: franchising these days can be more affordable than you think as many franchise owners have a good relationship with banks or financial institutions, enabling you to get secure funding for your new business to get you up and running in no time.

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:

  • How long has the franchise been operating for? The longer the time in the industry, the more established their reputation is and the more sustainable their business model.
  • What types of skills will you need? Some franchises are more demanding than others and in some cases you’ll need a certain skill set while in others, little to no experience will be required.
  • What is the extent of training that you’ll get? You’ll find out more about this in the Franchise Agreement that you sign as well as the Non-Disclosure Agreement that protects both parties during the preliminary phase of the process.
  • And the big one: How much will it cost? There are franchises that go for under 10k while others can go over a million. It’s really up to you to determine which franchise opportunity suits your budget and financial wherewithal.

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:

  • Marketing and advertising fees
  • Royalty fees
  • Insurance
  • Renewal fees
  • Resale fees

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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A couple of tips to keep in mind

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Opportunities that meet your budget
Use our investment type filters to select franchise opportunities that meet your budget only. Consider the most suitable options to invest in.
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Industry Research
Make sure you browse through all available options per industry to familiarize yourself with all other franchise brands and their value propositions.
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Ask the right questions
Ask franchisors the right questions related to royalties, break-even point, running costs, length of contract etc.
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Open days
Look for open days when you can visit existing franchisees at their locations and get a feel for how business is run.
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