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New to franchising?
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If so, don’t worry! If you want to know the vital facts and bene ts of
franchising, then read on in this NEW Business Franchise series!
F
RANCHISING IS often used to describe
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Larger, well-established franchise operations will a high degree of autonomy is allowed on the
many different forms of business often have national advertising campaigns and a franchisee’s part in running the business.
relationships, including licensing, distributor solid trading name
and agency arrangements. The more common
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Ethical franchisors (such as members of Who is in control?
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use of the phrase (which relates to all businesses the British Franchise Association) will offer Each business outlet is owned and operated by the
featured in this magazine) has arisen from the comprehensive training programmes in sales and franchisee. However, the franchisor retains control
development of what is known as business indeed all business skills over the way in which products and services are
T
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format franchising.
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Good franchisors can help secure funding for marketed and sold, and controls the quality and
This is the granting of a licence by one person franchisee’s investment as well as, for example, standards of the business.
(the franchisor) to another (the franchisee). discounted bulk-buy supplies for outlets when
E
W It allows the franchisee to trade under the franchisees begin operating What are the cost implications?
trademark/trade name of the franchisor and to
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If aware that you are running a franchise, The franchisor will receive an initial fee from the
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make use of an entire package, comprising all customers will also understand that you will be franchisee, payable at the outset, together with on-
the elements necessary to establish a previously offering the best possible value for money and going management service fees - usually based on
untrained person in the business and to run it with service - although you run your ‘own show’, you a percentage of annual turnover or mark-ups on
continual assistance on a predetermined basis. are part of a much larger organisation. supplies. In return, the franchisor has an obligation
The principle is simple – some companies There are many reasons why franchising is a to support the franchise network, notably with
choose to grow, not by developing in the great option for business. New franchisees enter training, product development, advertising,
conventional way, but by granting a licence to a tried and tested business model, they need not promotional activities and with a specialist range of
others to sell their product or service. worry about creating the brand, organising the management services.
advertising or nding the premises – the business is
The advantages to this are many: already there and ready for them to take charge. For more information on franchising, visit the advice
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Franchisees don’t have to come up with a new To add to the bene ts of franchising, there is the pages on
www.businessfranchise.com. And be sure to
idea – someone else has had it and tested it, too support of the franchisor, but at the same time, read next month’s Business Franchise for more tips!
MARKET FOCUS
NEXTissue
SPECIAL FEATURE
Printing franchises
In-depth look at the printing sector,
which contains many great franchises
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Preview of The British & International Franchise
Exhibition and Growing Your Own Business
Exhibition & Conference, Olympia, London
Franchise resales � All the latest news from UK franchises
Revealed: Many of the best resale � Valuable advice from our team of experts
opportunities in the UK market today �
More than 150 great franchise opportunities
February 2009
www.businessfranchise.com
BF132_Next Issue_Feb08 xnew1.indd 1 7/1/09 13:59:56
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