Starting up your own business can be very exciting. You may have been motivated to move on to bigger and better things or perhaps be your own boss, and decided that franchising is the right thing for you. After all 96% of franchise units operate profitable businesses 5 years down the line (source: NatWest / bfa survey) whereas only 60% - 80% of small firms survive the first 3 years. However, it is vital to bear in mind that you are about to make a life changing and substantial investment. Many franchisees have risked their home, savings and family relationships by investing in business. So who can you to turn for guidance?

A major part of the British Franchise Association's (bfa) work has been to recognise the franchise opportunities which represent a viable, ethical and franchiseable business. Franchisors can only become members of the Association by meeting the standards set by the bfa. These standards are adopted from the European Franchise Federation (EFF) Code of Ethics and set out in The Ethics of Franchising. On completion of a thorough accreditation process and investigation, franchisors are only awarded membership if they have been able to prove their franchise represents a fair and ethical opportunity.

Members are accredited against a wide set of criteria. In short, they would have demonstrated that the franchise is:-

1. ETHICAL and operating with a comprehensive franchise agreement.
2. VIABLE and FRANCHISEABLE, with a proven product or service as demonstrated by a substantial majority of franchisees who are successful over an extended period.
3. DISCLOSED - members are obliged to disclose their financial records and the records of their Directors, financial projections, and the identity of their franchisees. They are periodically re-accredited by the bfa.

Buying a franchise from a bfa member gives the following benefits for prospective franchisees:-

• Identification of companies offering an ethical business format franchise.
• Identification of franchisors willing and able to meet published standards of good practice.
• Commitment on the part of franchisors to act ethically and keep up with best practice.
• Advice and guidance on how to choose a franchise.
• Access to accredited professional advisors.
• Added value to your prospective franchised businesses.
• Access to low cost complaints and arbitration schemes should a dispute arise.
• Protection from unwarranted legislation in the UK and Europe.
• Exclusive access to the prestigious Franchisee Award Scheme sponsored by the HSBC and the Daily Express.

The accreditation process is a vital part of the bfa's work in upholding ethical standards across the franchising industry. The bfa was set up in 1977 and is the only voluntary self-accrediting body for the UK franchise sector. Its aim is to promote ethical franchising practice in the UK and help the industry develop credibility, influence and favourable circumstance for growth.