THE BRITISH FRANCHISE ASSOCIATION
THE UK' S VOLUNTARY S ELF - REGUL ATING GOVERNING BODY FOR FRANCHI SING
PIP WILKINS Chief Executive, BFA
Investing in fra nchising: Learn from the Tra ilblazers
F
ranchising is a popular way to start or expand a business. Simply put, franchising is a business model where a company (the franchisor)
licenses its brand, products, and services to an individual or group (the franchisee) to operate their own business using the franchisor’s proven system. When you invest in a franchise, the
franchisor – who created the business system and owns the brand – has already made the mistakes and refined the system, so you don't have to. They’ll give you all the training you need, from how to operate the business to how to market it and manage finances. But the support doesn't stop there.
When you join a franchise, you become part of a network of franchisees who offer additional support, guidance, and camaraderie. The franchisor and other franchisees will be there for you with regular communication, forums, conferences, ongoing training, visits from head office, and refresher courses to ensure you're equipped to build a sustainable business in your local area. Franchising is an excellent way to start or grow a business, but it requires
ecome pa of a network of fra nchisees who o er additional suppo guidance and camara derie
hard work, dedication, and resources. To become a successful franchisee, you need to be passionate about the product or service you're investing in, be system- oriented with a partnership mentality, have good people and communication skills, and be able to create customer confidence and loyalty to ensure repeat business and customer referrals. The BFA is the voluntary governing body for the UK franchise industry,
and we promote ethical franchising and provide guidance, training, and networking opportunities to franchisors and franchisees. We have over 300 accredited franchise brands in membership, representing many different types of franchise businesses and investment levels, and set high standards for franchising in the UK, ensuring that franchisors adhere to a strict code of ethics and standards. To become a member, franchisors must demonstrate their commitment to ethical franchising. One of our latest campaigns, ‘Franchisee
Trailblazers’, showcases the success stories of experienced franchisees who have come from an array of backgrounds and have invested in franchises from various sectors. It’s a must-read for anyone considering the franchise industry as an investment option. If you’re interested in franchising,
do your homework, speak to existing franchisees, and make sure you understand all the business operations and investment costs. The BFA is the perfect starting point for finding a good franchise. Don’t hesitate to get in touch with us if you have any questions or need further guidance. l
thebfa.org
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