THE BRITISH FRANCHISE ASSOCIATION
THE UK' S VOLUNTARY S ELF - REGUL ATING GOVERNING BODY FOR FRANCHI SING
PIP WILKINS Chief executive, bfa
Pip Wilkins, CEO of the British Franchise Association (bfa) asks, “could franchising be your future?”
E
ver thought about running your own business but just don’t have an idea of what to do? Then look no further, franchising could be your
future! With over 935 different brands to choose from, there is something that fits for everyone. So why is it a good option? Franchising is a business model where you do not need specific experience because the franchisor, who owns the brand and created the business system, provides you with comprehensive training and support. When the franchisor is developing their model they go through all the mistakes and refine the system so when you invest you do not have to. Using their experience and the initial and ongoing support it will put you on the right track to running a successful business. Right from the outset you receive
training covering everything you need to know from how to do the business operationally to how to sell and market your business and keep track of all the financials. You will also receive a comprehensive operations manual which is the bible of how to do anything and everything in your business. But it doesn’t end with that, if you
invest in a franchise you will also receive ongoing support to ensure you are able to build a sustainable business in your local area. The great thing about being
"Fra nchisors want to know that you share their passion to drive the business forward"
part of a franchise is the support does not just come from the franchisor, but from the other franchisees in your network so you are never alone in this business venture. Regular communication, forums, conferences, ongoing training, visits from head office and refresher courses will all form a part of your support package. If a franchisor isn’t looking for
experience of their sector, what are they looking for? One trait that many like to see is passion. You need to be driven and passionate about the product or service you are looking to invest in. Starting a franchise business 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 that you 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 spend 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.
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In most franchise businesses good people and communication skills are important. It may seem obvious, but as a franchisee you need to manage staff, build trust and motivate your team to give their very best. Then there are your customers. Creating customer confidence and loyalty is important to ensure repeat business and customer referrals. The joy of franchising is that you are
‘in business for yourself, not by yourself’. You can look to learn from both your franchisor and the other franchisees within your network to coach you in areas that you are not completely confident in. The key is to research the market and find the right brand for you!
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