Franchisee recruitment has changed – have you? Love it or hate it, the internet is here to stay. It has changed our lives in many ways and all human knowledge is just one click away. And of course, it has had a huge impact on business and more specifically, in our own sector, franchisee recruitment. Unfortunately, most UK franchisors are yet to respond to this change. Hear from Brian Duckett from the Franchising Centre on the changes to franchisee recruitment.
What to look for in your franchise territory Atlas Mapping’s duty within the franchise market is to help franchisors create territories that are fair for both franchisees and the franchisor. The advice in this article will help you to make sure you are asking the right questions about the territory on offer but to also set realistic expectations.
When to appoint an accountant for your franchise business You may believe that a new franchise isn’t established enough to need an accountant. However, unless you’re an expert in accounting and tax you may find a steep learning curve awaits. TaxAssist Accountants describes how appointing an accountant can provide your new venture with some essential advice and ongoing support that will steer you through that tough first year and beyond.
Keeping your health on track when running a home-based franchise business When running a franchise business, working from home may be a financial necessity for some. Whilst for others, the idea of working from home sounds ideal; there is no need to endure the morning commute and you can work in the comfort of your own home office. No matter what the reasons are, if you are considering a home-based franchise, it is important to understand what you are getting yourself into.
What makes a good accountant and how do you find one? By Chris Roberts, Franchise Finance Every franchisee needs a good one but not every franchisee has a good one. Do they understand you? Do they understand your business model? If not take the time to explain what you and your business model is all about. Explain your life and your business objectives so that you are all 'singing off the same hymn sheet'. For example, do you want to show low profits because you want to minimise tax or do you want to show high profits because you want to impress your bank manager so you can borrow more money? If your accountant doesn't show an interest and 'buy in' to your business goals and strategy then it's time to find a new one!
Why do I have to register for VAT? By Andrew Fraser, Harper MacLeod Franchise Agreements often contain an obligation on a Franchisee to register their business for VAT and remain registered throughout the duration of the Franchise Agreement. Some Agreements go as far as making any failure to comply with this clause an event which allows the Franchisor to terminate the Franchise Agreement. But why is this clause present? And why do Franchisors force franchisees (whose turnover is beneath the registration threshold) to register their business for VAT?
Dos and don’ts of advertising and social media At its best, advertising can introduce a product or service to the world and create a lasting brand-image. This can be via print, TV, radio, product packaging or, ever increasingly, social media. But done badly, advertising can lead to sanctions and potentially irreversible damage to reputation. Read Martin O'Neill, from WJM, “dos and don’ts” to follow when creating, or signing-off, advertising.
Why use PR? In today’s business climate it is more important than ever to spend money wisely and get maximum value. This is especially true when it comes to promotion, which is why businesses are increasingly turning their attention to public relations.
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How do I franchise my business? Letâ€™s make an assumption! You are a lively business person with a great idea thatâ€™s popular with your customers, and which you have proven to be profitable and successful by operating it for a period of time.