The East of England is a region within the United Kingdom. It has a population of over 6 million and includes a number of notable counties – Essex, Hertfordshire, Norfolk, and Suffolk, to name but a few.
You should know that the franchising industry in this region is growing from year-to-year, and was recently valued at over £2,000,000,000. So why not buy into an East England franchise today?
A franchise is, in effect, a license granted to a business person called a ‘franchisee’, by an established company – a ‘franchisor’. While they hold a license, the franchisee is able to use the franchisor’s intellectual property, branding, and business model. They’re also entitled to promote, and then sell the franchisor’s services.
This mutually-beneficial deal enables the franchisee to quickly grow their own business with the full, on-going support of the franchisor. While the franchisor receives an initial lump sum from the franchisee, as well as on-going payments. These agreements usually last for between five and ten years at a time. But they can be renewed.
If you were to invest in an East of England franchise, you’d be asked to set up in a ‘territory’. Simply put, this is a geographically-defined area ripe with business opportunities. You’d then be tasked with expanding your operation while upholding the standards of your parent company.
Brand recognition is invaluable, and something that every ambitious entrepreneur desires. It enables you to set up in any location, attract new customers, and generate revenue. It’s also one of the key advantages of a franchise…
When you join an East England franchise network, you’ll immediately take on the Trade Name of your parent company. You’ll be able to display it above your door, as well as use it on your website and official business social media accounts. This’ll give you a significant advantage over independent organisation owners. While they’ll have to build their reputation up over many years, you’ll get a ready-made one. It could be argued that this is the main reason that 90% of franchises succeed, while 85% of new unsupported startups fail.
Further to this, as a franchisee, you’ll be entitled to assistance that extends to site selection and development, product and market research, training for both yourself and your team, marketing and advertising, and so much more. In addition, your franchisor may be able to connect you with a reputable supplier that can offer you reduced rates.
It must also be remembered that a prospective franchisee doesn’t necessarily need previous experience in business management to apply for one of the East England franchise opportunities. This is because franchisors are able to provide comprehensive training that covers every single aspect of its operation.
Even though you’ll be a franchisee, you’ll still be in business for yourself. This means you’ll act as your own boss, and be responsible for your operation as a whole. You’ll be expected to recruit and train your own staff, provide excellent customer service, as well as attract and retain new clients, and so on.
Whether you perform services personally will depend on the particular East of England franchise you pick. Certain types of businesses will require you to have a more hands-on role, like a courier franchise for instance. In this specific scenario, you wouldn’t employ additional staff, at least not to start with, and you’d complete deliveries regularly in your assigned territory. On the other hand, if you were to buy into a foreign language tutoring franchise, you likely wouldn’t need to teach students yourself. You’d be able to delegate the services to properly qualified language tutors.
What should you take away from this? Before you take a business opportunity in the East of England, you must ensure that you fully understand what’ll be required of you on a daily basis.
There is a multitude of franchise opportunities in the East of England. All of which have different initial investment requirements. A franchisor is able to set the price of the initial fee, in addition to the size of the on-going royalty, operational, and marketing fees. These financial figures will all be available to you within prospectuses, or online. Of course, these expenses exclude the cost of your business startup. As a consequence of this, you’ll also need working capital. But rest assured that your franchisor will be able to provide you with an accurate recommendation.
Daunted by the cost of an East England franchise? Keep in mind that you won’t have to supply all the necessary capital immediately. It’ll be perfectly acceptable for you to ask for a bank loan. All you’ve got to do is write a business plan that describes the franchise opportunity.
To ensure you’re prepared for the responsibilities associated with running an East England franchise, your franchisor will ask you to undergo training. Although, it’s important to realise that some franchisors simply won’t have the resources required to give you an in-depth training programme. This is why, in some cases, your training may only last for two to three days. In contrast, parent companies with a significant amount of resources will be able to provide you with a personalised training course that takes into account your current abilities, as well as your previous experience. This kind of program will also likely include on-the-job training within a real outlet and may last for up to a month.
What help will you receive after your East of England franchise launches? This’ll again depend on the particular franchisor you’re partnered with. The majority will be able to help you promote your business in the build-up to the launch. But it can’t be guaranteed that they’ll continue to provide marketing support after this point. If they do, you’ll be charged a monthly fee. If they don’t, they’ll give you promotional materials such as leaflets and brochures, and train you to perform your own marketing in your territory. With regards to other kinds of assistance, your franchisor will ensure you have access to its head office team whenever you need counsel. In fact, certain companies may be able to assign you a dedicated mentor who’ll act as your sole point of contact throughout your time as a franchisee.
Don’t forget, you can normally determine exactly how much training and support you’ll receive by looking closely at the franchise agreement before you sign it.
To find out more about an intriguing business opportunity in the East of England you’ll have to send an enquiry. You can do this today through Franchise Fame! Once the franchisor has received your message, they’ll send you an information pack. Struggling to identify East England franchise opportunities that appeal to you? Contact us.
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