Invest in a Franchise in Northern Ireland

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Franchise Opportunities in Northern Ireland - Inherit an Established Reputation

Northern Ireland is a region within the United Kingdom with a population of circa two million people. The Northern Ireland franchising industry is valued at around £300,000,000.

Discover more about the open franchise opportunities in Northern Ireland by reading below…

What’s a Franchise?

Simply put, a franchise enables an entrepreneur, or ‘franchisee’, to use the branding, intellectual property, and business model of a successful company, or ‘franchisor’. It also gives the entrepreneur the right to sell the company’s products and its services within a geographically-defined area, known as a ‘territory’. The franchisor supports the franchisee by providing training and ad hoc assistance.

On Franchise Fame, there are a wide variety of franchise opportunities in Northern Ireland for you to look through. These range from arts and crafts franchises to restaurant franchises. You’re sure to find something that’s suitable for you.

Enjoy Reduced Risk

Not many unsupported, independent startups succeed. As a matter of fact, the latest studies suggest that as few as 15% become profitable. This is in direct contrast to franchises in Northern Ireland which have a 90% success rate. Why is there such a substantial difference? It’s simple. Entrepreneurs who try to go it alone struggle to promote their operation and capitalise on business opportunities. They can’t survive the amount of time needed to build a reputation – it can take years! It’s for this reason that you should consider investing in a franchise in Northern Ireland. You’ll get an instantly recognisable Trade Name, pre and post-launch support, marketing materials, bespoke systems, and so many other perks. You won’t have to invent new processes, you’ll follow tried and tested ones.

What’s the best benefit you’ll gain? The ability to set your own hours and schedule. You’ll be the one in charge.

The Responsibilities of a Franchisee

Once you buy into a franchise in Northern Ireland, you’ll almost certainly be given a license to a protected territory. This area will contain numerous business opportunities, and it’ll be up to you to take advantage. No other franchisee will be allowed to operate within the boundaries of the territory, so you won’t have to worry about competition. But what exactly would you have to do?

If you took charge of a courier franchise in Northern Ireland, you’d likely have to drive a van yourself until your enterprise grew large enough that you could afford to employ additional staff. Other franchise opportunities in Northern Ireland would be more hands-off. You’d manage your team while they provide the services, and concentrate on getting your business the exposure it needs in your local area. Additional responsibilities could include handling your finances, maintaining quality control, upholding the standards of the overall brand, and that’s not all. But rest assured you’d be trained to tackle all of this, and more.

Your Potential Expenses Revealed

A franchise in Northern Ireland could cost as little as £2,500 plus VAT, or as much as £250,000. It all depends on the prominence of the brand you want to partner with, and the expenses that’ll be incurred once you invest – it won’t just be an upfront fee. For example, a franchise you can manage online would be much less expensive as you’d have the option of being home based. A restaurant franchise, on the other hand, would necessitate the purchase of a brick-and-mortar establishment. While a courier franchise in Northern Ireland would likely require you to purchase a suitably sized vehicle – normally a liveried van. You must remember that there’s a difference between the initial franchise fee and the overall investment!

What if you can’t raise the necessary capital for a franchise in Northern Ireland by yourself? In this case, you’d have two options. Ask the franchisor for funding directly, or request a loan from a third party such as a bank. If you do plan to ask for a bank loan, there are a few things you should know. For one, your application will only be accepted subject to status. If your credit score and income level don’t meet the criteria of a given financial institution, you won’t be able to proceed. For another, you must present a full business plan. This is a detailed document that must encompass a description of the franchise opportunity, as well as a financial forecast, and a breakdown of your operational strategy.

Further to the initial investment, you also might be asked to pay on-going royalty and marketing fees. These’ll amount to a percentage of your turnover. In return, you’ll get continuous support, advice, and guidance from your parent company’s head office team.

Benefit From Thorough Training & Unlimited Support

It would be natural to assume that in order to take certain franchise opportunities in Northern Ireland, you’d need specific experience. This isn’t always true. For instance, you’d think that online tutoring franchises are all run by former teachers, but they aren’t. The franchisors simply look for ambitious business people who are enthusiastic about teaching children, but they don’t actually expect you to have extensive experience.

These companies have refined training methods designed to prepare you and other prospective franchisees like you for their future responsibilities. The training programmes can be quite short, some last for less than a week. However, they’re intensive, cover everything you need to know, and can even lead to official qualifications.

A small number of franchisors will ask you to perform on-job-training in an active outlet for multiple months, to ensure you have a real understanding of what’ll be required of you. But keep in mind, if it’s not possible for you to attend in-person training, online facilities will be made available to you.

What support are you likely to get after you launch your franchise in Northern Ireland? This’ll vary from one franchisor to another, but most will keep in regular contact with you, and provide assistance as requested. It’s important to realise that many franchise support teams take the time to develop marketing plans and identify business opportunities on behalf of franchisees. This is done to facilitate the quick growth of a customer base.

Most Franchisors Are Able to Offer Prospectuses

A prospectus is an information pack that contains all you could want to know about a given franchise opportunity. To get one, you’ll simply need to send an enquiry to a particular franchisor. Franchise Fame can help you with this – browse through the franchise opportunities in Northern Ireland on our site, find one that suits, and then use the form on that franchisor’s page. It’ll take you just seconds. Responses are often sent within days. You’ll also likely have the chance to arrange a call with a member of the brand’s franchise team. During this chat you’ll be able to get any extra questions you have, answered.

This being said, if you’re unsure how to proceed, you can contact us directly.

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