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UK franchisee stories
Interview with Peter Boulton, XDP, Stoke-on-Trent
With previous experience in the parcel courier business, Peter Boulton was attracted to the successful XDP franchise business model. With a depot in Stoke-on-Trent and 17 years with XDP under his belt, he shares his experience of choosing a franchise system and what makes a successful franchisee. Read more..
By Denise Howard, in-toto. Many people choose franchising as a welcome depart from the rat race – a way to work for themselves but with the peace of mind that comes from Franchisor support and a tried and tested business plan. But is it right for anyone? And if someone is capable of entering the world of a Franchisee, can they make a success of any franchise or does the choice of sector make a difference? Read more..
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Can you break a franchise agreement once you’ve signed it? By Andrew Quick, Stevens & Bolton
The strict answer to this question is yes you can, but only in certain circumstances will it be lawful and not cost you money to do it.
Unless the contract expressly allows you to terminate it, or the other party does something (or fails to do something) which allows you to terminate it (or to treat them has having terminated it), if you walk away from a contract you will be in breach of its terms and liable to pay damages to the other party.
Start me up: the franchise advantage in the early days
Statistics highlight the advantages of the franchise model for entrepreneurs: annually, and for the last 15 years consecutively according to the British Franchise Association/NatWest Franchise Survey, around 90% of franchisees report a profit and less than 5% of franchise businesses commercially fail. By contrast, around half of all independent SME start-ups are reported to cease trading within three years. The crucial first weeks and months of developing a business can help to explain those numbers. The early days of starting a business amplify the advantages inherent in taking on a franchise.
I delivered a talk a few days ago and was asked the question “is there any one marketing tactic that you recommend?” My answer was an unequivocal no. Alas there is no one marketing miracle at the rainbow’s end that will somehow transform the fortunes of your business with an army of people lined up and keen to do business with you.
But, you can compress the decision-making process of prospects in the following simple ways: