FRANCHISE ADVICE
Fees worth fl eeing? A franchise fee is a given, but sometimes there are other costs to be aware of. Identify if the franchisor charges for other services, like required software or licensing. These costs can add up, and if it goes hand in hand with strict requirements to use their processes and equipment, you may fi nd it takes longer to achieve the fi nancial freedom that you want from your business. More generally, it’s worth
understanding those restrictions and how they will drive your business and those of the franchisor. Will you be required to use specifi c vendors? Sometimes franchisors use supplier
requirements to generate their own revenue through rebates, in order to maintain trust in the franchisor- franchisee relationship, it’s essentially to gain clarity upfront.
About the fi t These tips can help you understand if a specifi c franchise model is right for you – but as with any entrepreneurial venture, the business itself needs to be a good match. Consider how your skills relate to the fi eld. Do you have relevant industry experience? This is especially important when considering a franchise as you need to be able to convince the franchisor to trust their business with you. Then there’s the running
of the franchise itself. Will it match the lifestyle you are looking for? Some business models might involve unsociable hours. Others might be home based or online. Will you be essentially operating as a sole trader under a brand, or managing a number of other employees? The fi eld of franchising is so
vast that all manner of business opportunities are available, to suit every kind of entrepreneur. This is fantastic but make sure you’re fi nding the one that is right for you! Hopefully this has given you some useful points to consideras you take the next step towards buying your own franchise.
daltonsbusiness.com
Europe's largest laser hair removal Brand is looking for a Master Franchisee to UK.
Entrepreneurial spirit Dynamic / Proactive All knowledge and training provided No experience in the sector required
OBTAIN THE EXCLUSIVE RIGHTS TO DEVELOP OUR FRANCHISE SYSTEM WITHIN THE UK MARKET
BUSINESSFRANCHISE.COM 29
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