South West England is a region within the United Kingdom that has a population of circa 5.5 million. The famous counties of Devon, Bristol, Cornwall and Gloucestershire can all be found within the area. While prominent cities include Plymouth and Exeter.
The franchising industry in this region now generates an annual turnover of £1,400,000,000. This number is expected to keep rising. So, don’t hesitate, invest in a South West franchise now!
Wondering what it means to buy into a South West England franchise? A franchise is an agreement that enables an aspiring entrepreneur to create their own business under the umbrella of a prosperous company, or ‘franchisor’. Once the entrepreneur signs the agreement, they become a ‘franchisee’.
In exchange for an upfront investment and several monthly fees, the franchisee receives a license to use the franchisor’s trade name and is able to follow its pre-established business processes. Plus, the franchisee is entitled to promote and sell the products and services of the franchisor for the duration of the agreement – usually between three and five years.
In almost all cases, a franchisee is assigned a geographically-defined area, otherwise referred to as a ‘territory’. Each territory is exclusive to one franchisee only. The areas themselves tend to be large and contain room for expansion as well as numerous business opportunities.
It goes without saying that this is an extremely high rate of success. Particularly if you compare it to the 15% success rate of independent startups. What makes a franchise more likely to become financially viable? The brand recognition factor. As a franchisee, you’ll inherit the name of a company that potential customers recognise on site. It takes independents years to build this kind of reputation. So, when you’re browsing through franchise opportunities in South West England, you should consider the prominence of the brand you’re contemplating partnering with. Simply put, the companies with the best reputations are generally the best franchisors.
It’s also important to realise that after you take a South West England business opportunity, you’ll receive unending support from your franchisor.
Your daily responsibilities will extend to managing your South West franchise, forming a loyal customer base, handling your finances, recruiting staff as required, growing your operations and maintaining quality control.
But remember, before you take the reins of your South West England franchise, you’ll be fully trained. As a result, you’ll have the confidence and competence needed to succeed. What’s more, due to the intensive and thorough nature of franchisee training programmes, you won’t necessarily need previous experience in the sector in which your franchise will be based.
While you’re investigating South West England franchise opportunities, you should focus on the investment requirements. A franchisor should clearly indicate the cost of the package as well as the startup costs and any ongoing monthly or yearly fees. You must take into account all three before you decide whether to proceed.
In the event that you find a suitable franchise opportunity and can’t afford it outright, you needn’t be concerned. In all likelihood, your franchisor will allow you to seek funding from third parties such as banks or offer you financing directly. Put together a business plan and then present it. If your income level and credit score match the lender’s requirements, your request will be approved.
After you buy into a South West England franchise, your parent company will tell you when and where your training will take place. You’ll undergo a programme designed to equip you with the tools and knowledge you need to build a profitable business. The subjects covered will almost certainly include customer service, both digital and traditional marketing, staff management and much more. Where will it be performed? Normally at your franchisor’s headquarters, but in certain circumstances, it may be carried out at a special facility – a building containing classrooms as well as areas designed to mimic the layout of a real outlet. There’s truly no better way to prepare you for your future responsibilities.
Further to this, you may get access to an online training portal that contains a substantial amount of additional resources. While you’ll also receive an operational manual featuring a breakdown of your franchisor’s proven business model.
Bear in mind that your parent company won’t stop supporting you after your training has been completed and your South West franchise has launched. The head office team will keep in touch with you and provide vital advice and guidance. Of course, they’ll help you run your operations too. The majority of franchisors can provide bespoke Customer Relationship Management systems, otherwise known as ‘CRM’, and other software tools that will help you become more productive and efficient.
Unsure of which franchise opportunities in South West England include the most training and support? Simply read the franchisor’s page on Franchise Fame closely!
Take your time and look through the South West England franchise opportunities on Franchise Fame. If one appeals to you, you should consider submitting an enquiry. This won’t cost you a penny and you won’t be expected to make a commitment straight away. How will this benefit you? You’ll get a franchise prospectus. Essentially, this is a pack of information containing relevant investment details, a full outline of your role as a franchisee and so on. It will help you make an informed decision. If you remain interested after reading the prospectus, you’ll simply have to let the franchisor know and they’ll invite you to a Discovery Day – an in-person meeting at the company’s head office. However, if you can’t travel for any reason, this can be completed over the phone.
At the Discovery Day, you’ll learn all about the South West England business opportunity you’re intrigued by. But before you attend, make sure that you’ve thoroughly read all the documentation you’ve been sent. The schedule of the Discovery Day will be pre-planned by the franchisor. It will include a one-on-one meeting between you and a representative as well group meetings that feature both you and other prospective franchisees. At this time, you’ll also meet the training and support staff who will be tasked with helping you throughout the duration of your agreement. On top of this, you’ll likely be given the contact details of several current franchisees so that you can get more of your questions answered.
You won’t be asked to sign an agreement during the Discovery Day. The franchisor will wait for you to digest the information you’ve received before you commit to investing in a South West franchise. They’ll also encourage you to seek independent legal advice to confirm you’re happy with everything contained within the proposed contract.
Not sure where to start? Feel free to contact us.
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