FROM
THE BRITISH FRANCHISE ASSOCIATION
THE UK' S VOLUNTARY S ELF - REGUL ATING GOVERNING BODY FOR FRANCHI SING
PIP WILKINS Chief Executive, BFA
Welcome to our world... I
f you are new to franchising – and if you picked this magazine up at the recent National Franchise Exhibition, it’s likely that you are – you may not have heard about us. We are the
BFA, the British Franchise Association. We were set up in 1977 by some of the largest franchise brands in the country who worked together to create the Association and put in place standards and a code of ethics – a code still rigorously enforced today. We're entirely voluntary and exist to maintain the standards of franchising in the UK. Our goal is to showcase the fantastic opportunities within franchising, and how these possibilities can positively transform people’s lives, no matter what their background or starting point.
It’s not like signing up for a loyalty card Any BFA franchisor who you meet at the exhibition or find on our website, has made it through a rigorous analysis of their business before they are awarded the coveted title of ‘Member of the BFA’. It’s not like signing up for a Tesco Club Card, we don’t just let anybody in!
Franchise inspection Before we accept a new member, we inspect their franchise model to make sure it’s possible for franchisees to build
a decent-sized business. We’ll also have looked at their operational practices, finances, marketing materials and franchise manual to make sure it gives franchisees all the information they need. We’ll have had professional franchise lawyers look at their legal documents to make sure they are fair for both parties (although we still highly recommend you get all legal franchise documents checked by your own franchise specialist lawyer so you understand the agreement). No stone goes unturned. And it’s not the case that once you are in membership is granted for life; we continue to check member’s operations periodically to ensure they still meet our standards.
“Consider BFA membership the ‘kite mark’ of an ethical fra nchise”
We really hope that with this
information in mind, you will see BFA membership as the ‘kite mark’ of an ethical franchise as you peruse the marketplace.
Play to your strengths Keep an open mind when assessing franchise opportunities and be realistic
about yourself, your strengths, and your weaknesses. Consider, for example, where you wish to spend the majority of your time, and who with – do you want to lead a team who will ultimately carry out the business’s service or sell its products or are you keener to be hands-on day to day? Once you’ve begun negotiations with a franchisor, ask for the contact list for ALL their franchisees, not just the ones they offer you. It’s important to carry out your due diligence and it’s only human nature for franchisors to propose their most successful franchisees. Caveat Emptor. If you weren’t lucky enough to make it
to the exhibition, you can find out more about the BFA’s members at
thebfa.org.
Free online franchising courses We also run free online courses for people looking to buy a franchise, or to franchise their existing business – visit the website for more information. In conclusion, the UK franchising sector
is thriving –just read some of the news stories on our website to see how well franchises are doing – and we very much hope to welcome you into the franchising family in 2023. We’re always here if you need us
and are very happy to help. Good luck in your journey!
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