Consideration

Franchise

Independent Business

Trade Name

You will have the right to use an established trade name, marks, logo and style. The UK franchise business will be indistinguishable from others in the network. Customers could be made aware of local ownership

You will need to establish your own name, which requires time. The name will not be National, but customers will be aware of local ownership.

Known Product or Service

Your product/service will have public acceptance. It is a major benefit if the network as a whole has a sound reputation, but is a drawback if other franchisees perform badly

It takes a long time to establish a product/service and build up public acceptance.

Training

Training is essential if you are changing career, by providing you with the ability to use new technology, financial and staff management and the skill required to operate a uk franchise business initially and on-going

Your business will be based round your skills or hobbies. The management will depend on your own capability.

Proven Business

The business should have worked well elsewhere, this does not however guarantee it will work everywhere and not all franchisors have carried out pilot tests.

Your business will be totally unproven.

Package

You're buying a complete UK business franchise format

As you will have little external support, your business will start small and will require time to develop

Advertising

National advertising will be undertaken by the franchisor and local advertising is up to you. You will be given guidance and materials for this.

This is entirely down to you. You have to devise and produce your own material and select the best media.

Sourcing

Franchisors will specify material and some may be the sole source of certain supplies. In some cases you can take advantage of bulk discounts

You are free to specify your own materials and to shop around to get the best deals. Initially you will be buying in small quantities and therefore the discounts will be small.

On-going Help & Support

You will have the benefit of a trouble shooting service from the franchisor as and when required. Field staff may also visit franchisees and help prevent the build-up of problems

You're on your own and there are no preventative visits

Location

The franchisor should select or advise on location that is right for the UK franchise business

You are free to make good or bad choice of location. Expert advice can be obtained but can be expensive.

Ownership

There may be limitations on your ability to sell or dispose of the UK franchise business as the franchisor may have rights to purchase and terminate your contract under terms defined in the franchise agreement. You must remember that you own the UK franchise business for a fixed period of time with the right to renew.