Hope springs eternal for the franchise industry in 2020
Article by Matt O’Neill
Franchise Advisory Service
If you are considering franchising as a career option, then 2020 could be your year.
After a 2-year slowdown in franchise sales (unless you are considering the fast food or care industries both of which are continuing to boom), things are looking up in Franchising. Now that Brexit has been actioned and the British political scene is settling down, confidence can be restored to the UK franchise market. Investors will be more at ease knowing that things are starting to get back on an even keel which will encourage them to start looking at franchising again as their next career move. However, it remains to see just exactly how this will pan out during the Brexit transition period.
I have just returned from the first franchise exhibition in London Olympia and there certainly seemed to be a bit of buzz and an air of excitement again. This was supported by good numbers of attendees and franchisors starting to see an increase in the number of leads taken too.
Exhibition season is now in full swing, with two further exhibitions planned in March and April so now is a good time to start planning to attend these shows to see if your future lies as a franchise business owner. It is a great opportunity for you to meet franchisors face to face and for them to meet you to see if there is some mutual compatibility.
You should never rush into making your decision to become a franchisee. Signing a franchise agreement with a franchisor is a big step and huge commitment and something that should not be taken lightly. You will be committing yourself for the “term of the agreement” as well as financially too, so proper advice and due diligence should be carried out with due care and attention. Make sure you devote the proper time to give it the attention it deserves.
Exhibitions are a great way to start your due diligence. You get to see what business systems are available and what may suit your aspirations and your pocket.
FRANCHISE SEMINARS JUST GOT EASIER
A great way to start your due diligence is to attend some of the many franchise events and seminars that are available. If you physically can’t get to one of them due to work or family commitments, then are also places online you can go to for advice such as the newly available Franchise Seminars http://www.franchise-seminars.info
Last Updated: 05-February-2020