Ten Reasons to Choose Franchising
The 2004 BFA/NatWest Franchise Survey reveals that franchising - currently a £9.65billion industry in the UK - continues to expand, both in popularity and economic terms. UK franchisors and franchisees are optimistic for the future, with 95 per cent of franchisees reporting profitability in the 2004 survey. A total of 695 franchise systems have been identified, with an estimated 330,000 people employed in franchising across 13 different industry sectors.
Franchising Advice?
The British Franchise Association (BFA) has broadened its role since its inception 27 years ago to now be one of the first ports of call for people wanting advice on franchising. Figures just released in the 2004 BFA/NatWest Franchise Survey show 64 per cent of prospective franchisees checked whether their franchisor was a BFA member before signing a franchise agreement. There are many tools offered by the BFA to people researching franchising as a career. These include the Franchisee and Franchisor Guides, seminars and workshops for prospective franchisees and franchisors and the BFA website.
What is Franchising?
The term “franchising” has been used to describe many different forms of business relationships, including licensing, distributor and agency arrangements. The more popular use of the term has arisen from the development of what is called “business format franchising”.
Business format franchising is the granting of a license by one person (the franchisor) to another (the franchisee), which entitles the franchisee to trade under the trade mark/trade name of the franchisor and to make use of an entire package, comprising all the elements necessary to establish a previously untrained person in the business and to run it with continual assistance on a predetermined basis.
Why Select franchising?
Starting out on your own in business can be an exciting and empowering experience. Driven by the appeal of working for your own gain and to your own agenda, the dream can very quickly spiral into a nightmare however if things don’t go to plan. For many, one solution that can ease the concerns of starting your own business is to become the owner of a franchise
CREATE Project
The BFA is a partner of the CREATE Project - a European Social Fund programme aimed at encouraging more minority groups into franchising. The project is a partnership of national business support organisations supporting people considering self-employment, particularly through franchising.
CHOOSING THE RIGHT FRANCHISE
In a UK franchise industry worth £9.65 billion and currently 695 franchised businesses, where do you begin to choose the franchise that is right for you? Your first port of call should be to consult the British Franchise Association (BFA) - the only authoritative body for franchising and representative of good, ethical franchisors in the UK - who can help you with any enquiries.
Travelling to New Horizons
After 20 years working for a major tour operator in the travel industry Tracy Mason from Staffordshire decided it was time she did her own thing. "You're not given many opportunities to set up a travel business," says the 35-year-old."But having been to the Harvey World Travel roadshow last Christmas and done lots of research it seemed timely that after many years of working for someone else that I should look to do something myself with the backing of an international brand."
Moving Up the Property Ladder
There's never been a better time to get into the buy-to-let property sector, according to Richard Martin, chairman of Martin & Co, one of the UK's largest property letting companies. Martin believes that proposals in the Chancellor's Finance Bill allowing buy-to-let properties to be used as part of the owner's pension provision, make this an ideal time to get into the buy-to-let sector.
Cleaning up with Franchising
With a van and some specialist cleaning products and kit Terry Smith set up Mobile Car Valeting 19 years ago in Leicester. "There was just me and my van. I'd done some research and realised there was a big gap in the market for people who wanted their vehicles cleaned."