The West Midlands is a region in the United Kingdom that’s home to roughly 5.9 million people – around 11% of England’s total population. The area also contains several well-known cities such as Birmingham, Coventry, Stoke-on-Trent and Wolverhampton. Meanwhile, the franchising industry in the region is currently worth approximately £1,500,000,000.
There are numerous franchise opportunities in the West Midlands. Don’t hesitate! Pick one today.
In the most basic terms, a franchise is a licence given to a business person, or ‘franchisee’, by an established brand, or ‘franchisor’. In exchange for a certain amount of capital, the franchisee is allowed to use the brand’s name and business model as well as market and sell its services. The franchisor will ask a new franchisee to work within an exclusive area, or ‘territory’, and capitalise on the business opportunities within it.
You can find out more about how investing in a West Midlands franchise will benefit you by continuing to read below.
Wondering why you should take a chance on a West Midlands business opportunity? 90% of franchises are successful – there simply isn’t a faster path to profitability and financial security. Still considering building a business from the ground up? You should know that 85% of these kinds of ventures fail and 50% collapse within just five years.
Consumers will always prioritise reputation and brand recognition when making purchases or ordering services. This means it’s incredibly difficult for independent business owners to make their marks in a given industry. But franchisees don’t experience this issue. Tf you become one, you’ll operate under your parent company’s trade name. As far as potential customers will be concerned, you’ll have been operating in the sector for many years. This will give you the ability to quickly establish a base of clients who can provide you with regular income.
On top of this, you’ll enjoy flexible business hours and have the work-life balance you’ve always dreamed of. But it’s important to realise that while you’ll be able to decide how much you work, the amount of time you put in will determine how successful you are. It should also be remembered that as your franchise in the West Midlands grows, you’ll be able to take on more staff, and eventually, even expand into additional territories. The possibilities are endless.
As the leader of a West Midlands franchise, it will be your responsibility to protect the image of the brand you’re representing in your area. To this end, you’ll have to ensure that all of the products and services you sell are of the desired standard. What’s more, you’ll need to manage and organise your staff, handle basic accounting tasks, attract new customers and grow your enterprise.
You’ll be extensively trained and then assisted every step of the way. If you effectively implement your franchisor’s business model, it’s likely that you’ll break even within just one year.
When you’re looking through the West Midlands franchise opportunities on Franchise Fame, you’ll discover that there is a wide range of different prices. These can be lower than £5,000 or higher than £100,000. Each franchisor has particular investment requirements. Therefore, you would be wise to undertake thorough research before you make a commitment.
There are three separate figures you need to find – the price of the franchise package, the startup costs and any ongoing fees. The package will include a licence to use your franchisor’s branding, as well as training, and other perks. While the startup costs will cover everything from office rent to equipment. The fees, on the other hand, will need to be paid every month, and they’ll amount to a certain percentage of your net turnover. This is the cost of receiving ongoing support from your parent company while you manage your franchise in the West Midlands.
Need funding? If your franchisor can’t help you, a bank is the best option. Formulate a business plan, describe the franchise opportunity and then present your proposal. Your request will be approved, subject to status.
Regardless of which of the West Midlands franchise opportunities you choose, you’ll be eligible for full training. What will this entail? You’ll be taught the basics of franchise management – how to obtain and retain new clients, promote your services in your territory and that’s not all. This training will likely be delivered at your parent company’s headquarters and may be carried out by current franchisees. You may spend a number of days learning on-the-job as well. But be mindful of the fact that some franchisors will insist that you complete official qualification requirements before you take the reins of your business. However, this is rare and normally only applies to specialised franchises that require pest control or plumbing training.
Don’t forget, if you pass the application process, you’ll join a West Midlands franchise network that consists of many experienced experts. You’ll be able to rely on support and guidance from individuals who’ve been there and done it for many years. They’ll have run into every conceivable obstacle, and they’ll tell you exactly how you can avoid them. Moreover, your franchisor will ensure your business gets the exposure it needs by helping you implement marketing initiatives. It’s likely that the company will complete brand-wide marketing on a national scale, and you’ll be given the responsibility of promoting your business in your local area. But you’ll be provided with marketing collateral such as leaflets and brochures that will make this process far easier.
Intrigued by a specific West Midlands business opportunity? The next step is simple and can be completed in just seconds. Find the franchisor’s page on Franchise Fame and fill out the enquiry form. Once you’ve done this, an information request will be sent straight to the company. Shortly thereafter, you’ll receive a response from a brand representative. This professional will send you further details in the form of a franchise prospectus. This documentation will cover each and every aspect of the opportunity – you’ll learn about specific investment information and so much more. If you’re happy with what you read, you should consider attending an open day…
At this meeting, you’ll have the chance to meet your prospective franchisor and determine whether they’re right for you. Of course, this will also be a time where the franchisor can evaluate you as well. Consequently, you should expect to have to describe your professional background, level of business experience and educational history. You may also be asked to indicate which areas you’re prepared to work in. Afterwards, if both sides are satisfied, you can proceed to make an agreement.
Having trouble identifying franchise opportunities in the West Midlands that would suit you? Contact us.
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Tumble Tots offers physical play classes for young children ranging from 6 months to 7 years old.
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