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ne of the key things to do when trying to work out whether or not franchising is right for you is to do thorough research on the different


concepts that are available to find the best fit for your needs. Visiting The Franchise Exhibitions, like The British Franchise Exhibition in Manchester on June 16 and 17, is an important step in the research process of any potential franchise. You will be able to meet face-to-face with a number of franchisors and their franchisees, all under one roof, and discuss your suitability to their business. Brands at the exhibitions range from big businesses like McDonald’s to domiciliary care franchises, paint chip repair and everything in between. “The franchise sector is so varied that it is important that you approach your search for a franchise in an ordered and structured manner,” advises Pip Wilkins, chief executive at the British Franchise Association (bfa).


“Having so many franchisors in one place makes exhibitions a great place to compare and contrast the facts and figures of each system, franchise by franchise.” The first step to take when attending an exhibition is to look through the show guide, identify the brands you want to investigate and plan your time. Don’t just stick to what sectors you already know, because in franchising you will get the training you need to run any of the businesses on offer. You do need to realistically assess your income needs and the amount of money you can raise to invest in a business, which is why it is important to talk to the specialist franchise advisers at the exhibition: bankers, lawyers, consultants and accountants. You should plan to use franchise specialists to advise you throughout the franchise process, so it is important to find advisers that suit you. Take note of companies that are bfa members. Established 40 years ago by a


group of leading franchising companies, the bfa is a voluntary self-regulating body set up to introduce good practice into franchising. Members of the bfa have chosen to be accredited against a code of business practice, and with over 270 accredited franchise brands in membership there is a lot to look at. The important thing to remember is that franchisors will also be assessing you as much as you are assessing them, so you need to look at yourself, your characteristics and your skills. One trait that many franchisors look for is passion. Franchisees need to be driven and passionate about the product or service they are looking to invest in. Starting a franchise business from scratch is no mean feat; there will be long hours and hard work to get the business up and running, so good franchisors want to know their franchisees share their passion to drive the business forward even in the toughest of times.


They will also be looking for people that


are system-orientated with a partnership mentality. Franchisors will have spent a lot of time and money developing, refining and testing their brand and business systems,


and will not be looking for people to come on board and reinvent the wheel. Other key qualities can include good people skills and communication skills. It may seem obvious, but as a franchisee you may need to manage staff, build trust and motivate your team to get the very best from them. And in any business, franchising or not, there is also a need for some element of sales skill. You do not need to be a natural-born salesperson but you do need to be comfortable with selling your brand to the end user. The good news is that this is an area that franchisors will usually offer you plenty of support on. Finally, and while it may sound strange, a good franchisee understands franchising, so attending The Franchise Exhibitions shows you are taking your research very seriously. The bfa runs free seminars during the exhibitions. ‘An introduction to franchising’ is aimed at prospective franchisees, while existing businesses looking to franchise their operations will benefit from ‘How to franchise your business’. The bfa also has its own stand at the exhibitions and welcomes everyone, at whatever stage of their journey, to come and talk.


June 2017 | BusinessFranchise.com | 15


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