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Business Franchise magazine is the essential read for anyone looking to run their own business with the support of an established brand. From household names to emerging franchise businesses, you’ll find a wide range of investment opportunities within its pages, alongside in-depth market reports, real-life case studies, industry news and expert advice to help you make informed decisions about your future in franchising.
As the official magazine of The Franchise Exhibitions, it also incorporates the Show Guide for the only events organised with the full support of the British Franchise Association. Events take place in Birmingham, London, Manchester, Scotland, Online and more! Subscribe today to receive FREE tickets.
If you are toying with the idea of self-employment, franchising could be a superb route. With its tried-and-tested business model, an established brand and extensive training and support in all areas of your business, a franchise can help to get you up and running - and earning - in a relatively short space of time.
Magazines and internet websites are a valuable source for information, however, meeting franchisors face-to-face at a franchise exhibition can be a great way to narrow down your search. To get the best out of your visit, some planning is strongly recommended.
Franchise consultant Peter Williams advises: "Firstly, assess the amount of money you have available to invest, including liquid capital and equity in
Subject to individual circumstances, the major banks often lend between 50 and 70
Your next step is to shop around for franchises within your budget. Peter recommends: "The best strategy is to enter the exhibition hall with an open mind and inspect as many franchises as possible, in order to make sound comparisons when you start to make a short list of possibilities.
"Bear in mind that exhibitors have spent a lot of time and effort in preparing to meet visitors and will provide lots of information and answer questions. A few minutes' dialogue will enable the all-important first impression to be gained, establish what is on offer (including
"In investigating further, your agenda should embrace key aspects such as the comprehensiveness of the establishment package, the training programme, continuing support, franchise fee arrangements and, not least, the prospective rewards."
Some businesses will have existing franchisees on the stand so make sure you chat
Peter adds: "To give you a break from touring the stands, you should also attend one or more of the free seminars, which aim to bring the benefits of franchising further into focus. Speakers include well-known franchisors, solicitors, bank franchise managers - all British Franchise Association-accredited - and franchisees who relate their personal experiences. Each seminar allows for the audience to ask questions, further enhancing the fact-finding process."