Franchise Opportunities in North East England - Become Financially Independent

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Invest in a Franchise in North East England

North East England is a region in the United Kingdom with a population of around 2.7 million. Prominent cities in the area include Newcastle upon Tyne, Sunderland and Durham.

There’s never been a better time to take a business opportunity in North East England! Why? Franchising in the area generates annual revenue of close to £1,000,000,000, and this number is rising from year to year. Keep reading to learn how you can take advantage of this…

Familiarise Yourself With Franchises

Unsure of what franchising is? A franchise is granted to a franchisee, an independent business person, by a franchisor, an established company. As part of this agreement, the franchisor allows the franchisee to use its branding and processes and sell its products and services for a set period of time. This is usually between five and 10 years.

Franchisees are often assigned areas in which they must operate. In most cases, these territories are exclusive and contain thousands of business opportunities. It’s unlikely that a franchisee will need specific experience in the industry they’re joining. This is due to the fact that most franchisors are able to offer full training.

Now you know exactly what they are, you can identify which franchise opportunities in North East England are right for you.

Discover the Benefits of Franchising

90%. That’s the success rate of franchises in North East England. What’s more, the average turnover of businesses in the region increased by 7.49% between 2019 and 2020. This is a perfect area for you to achieve financial independence!

Why are franchises so much more successful than independent startups? It’s true that 85% of businesses that start from the ground up fail. This is because these organisations have no brand recognition – customers don’t know the trade names and, therefore, rely on and use established brands instead of them. If you take one of the North East England franchise opportunities on Franchise Fame, you won’t experience this problem. You’ll be given a licence to use the name of your parent company, which will allow you to quickly build a reliable customer base. As a result of this, you’ll face a greatly reduced amount of risk.

As a franchisee, you’ll also benefit from complete control over your working life. You’ll be your own boss and receive continuous support from your franchisor.

You’ll Manage Your Own Business

When you’re searching for a suitable business opportunity in North East England, you must take into account what your exact future role will be. You might purely manage a team of staff and market your operations. But you may be expected to handle both of these responsibilities, in addition to performing services yourself. It will all depend on the franchisor you partner with.

The vast majority of franchisees are expected to oversee quality control, recruit staff, raise brand awareness in their local area, expand their business and obtain and retain customers. It’s likely that you’ll work out of an office you rent within your territory, which has space for both you and your employees. However, it’s possible that you’ll be home based. For instance, if you choose an online franchise in North East England, you’d likely be able to manage your operations by yourself with just a computer and a landline.

Investment Guidance

You’ll notice that no two North East England franchise opportunities cost the same. The initial investment requirements are determined based on the franchise fee and startup expenses. The franchise fee is the price of the base agreement. Once you’ve paid this, you’ll be entitled to an exclusive territory, training, marketing support, site selection assistance and that’s not all. Mean while, the startup expenses include office rent, necessary equipment, staff wages, insurance and more. Additionally, there’s a good chance you’ll be asked to cover several ongoing fees for marketing and royalties. These fees will be a set percentage of your monthly turnover. You simply must make sure you truly understand everything that will be required of you financially before you settle on a North East England business opportunity.

If you can’t raise the capital you need yourself, you’ll have two choices – ask the franchisor for direct funding or secure financing from a third party. This third party could be a personal friend, but will most likely be a bank. To ensure your loan request is approved, you’ll have to present the benefits of the franchise opportunity you’ve found. To do this, you’ll need to perform market research, undertake a financial analysis and draw up an organisational structure. You’ll then have to collate this data within a business plan. Once you’ve shown this strategy to a lender, they’ll take a number of working days to evaluate your proposal. If the brand you’re partnering with has a long track record of success and you have a good income level and credit score, it’s likely you’ll get the funding you need.

Keep in mind that you may not have to start a brand new business after you invest. Some franchisors will allow you to purchase a franchise from one of their current franchisees. You’ll negotiate directly with this business person and come to an agreement. After the transaction has been completed, you’ll inherit the franchisee’s entire operation, including their customers.

Proceed With the Full Support of Your Parent Company

Upon your acceptance into a franchise network, you’ll immediately undergo training that will prepare you for your future responsibilities. The programme you take part in will have been specially designed by your parent company to go over every relevant subject – from customer service to marketing. The time this will take will depend on the particular North East England business opportunity you decide to pursue. But on average, the programmes are normally around one week in length and are carried out at a brand’s head office as well as in the field. During this process, you may also have the chance to earn professional standard qualifications. For example, investing in a pest control franchise would almost certainly require you to earn an RSPH Level 2 Pest Management Award.

When your training concludes, you’ll be ready to take the reins of a franchise in North East England. But you won’t be left on your own. Your parent company will keep in contact with you and provide ongoing support. This will encompass, but won’t be limited to, recruitment assistance, marketing guidance, a consistent supply of promotional materials, regular equipment packs and so on. Furthermore, you’ll have a direct line to the team at your franchisor’s headquarters. These experts will quickly respond to your calls and emails.

What’s Next?

You must identify a franchise in North East England that matches you. Get started by performing a self-evaluation – what industries are you interested in? What’s your current skill set? What hours are you willing to put in? Answer these questions and then begin searching. After you’ve got a shortlist of possibilities, you should reach out to the franchisors using the enquiry forms featured on our site. In return, you’ll be sent franchise prospectuses containing operational and financial details. This information will enable you to make a fully informed decision.

Following this, you’ll have the chance to attend a Discovery Day or take a Discovery Call. This will be a perfect opportunity for you to determine whether the potential franchisor in question is a good match. If everything goes well and both sides are happy, you’ll be able to sign a franchise agreement.

Of course, it goes without saying that there are numerous franchise opportunities in North East England. It would only be natural if you didn’t know where to start. Why not contact us today? We’ll help you find the right one for you!

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