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Franchise survey

BLH Franchisee Workshops Survey Results

These are the results of an independent survey carried out on behalf of Business Link Hertforshire on a group of workshop attendees.

How long been considering Franchising

46% for up to 3 months

28% for 4-6 months

11% for 7-12 months

15% for more than 12 months

Reasons for first considering a Franchise

53% said they wanted a new career

46% felt it was an opportunity to run a business at a lower risk

9% because of redundancy/early retirement

7% said they were just looking for business opportunities

Main criteria for selecting Franchise

(n=27 people)*

8 people said 'financial viability / profit potential'

7 people said 'had experience/skill/knowledge in area'

6 people said 'something found interesting'

5 said 'established / honourable Franchise'

5 said 'within my capabilities'

 Reason for attending Workshop

82% were considering taking up a franchise

  • 37% of whom where 'seriously considering'
  • 31% 'thinking about it reasonably seriously'
  • 29% 'just as a possible option' *
  • 2% 'least likely of a number of options'

6% were about to take one on

5% were thinking of becoming Franchisors

4% already had a Franchise and wanted help/information/advice

What hoped to get out of workshop?

76% hoped to get general information/knowledge on Franchising

The specific needs mentioned, in order of frequency, were:

  • How to tell a good Franchise from a bad one (17%)
  • The pitfalls (11%)
  • Financing (10%)
  • Practicalities - managing a Franchise (9%)
  • To hear experiences from those with Franchises (9%)
  • Benefits of franchising (8%)
  • Legal aspect (5%)
Whether Workshop gave what wanted

67% stated that it did give them what they wanted

70% of those who went on to take up a Franchise/were about to do so/or were seriously considering doing so said the workshop gave them what they wanted

32% said that it gave some of what they wanted

Best points about Workshop

The 'case study presentations' were most mentioned (62%)

Thereafter in order of frequency came:

  • Franchise agreements/legal aspects
  • How to evaluate Franchise
  • Financial information
  • Information on what Franchising is
  • Franchising opportunities
  • Raising finance

How worthwhile day at Workshop was

73% thought that it was very worthwhile

No-one thought their day was wasted

Outcome

Of those who were 'considering taking up a Franchise'

  • 18% had done so (36% who had been 'seriously considering' had done so)
  • 8% were about to do so (13% 'seriously considering' were about to)
  • 33% were still seriously thinking about doing so
  • 41% were uncertain/had more or less decided not to/at the moment

Of those 29%* seeing Franchising as just a possible option before attending

  • 13% had taken up a Franchise
  • 4% were still considering

Sources of information about Franchising used

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