THE L A TES T REP OR T S FR OM B US INES S ES


IN FR ANC HI S ING NEWS&TRENDS Time to network...


The National Franchise Exhibition returns to the NEC, Birmingham, on 4 & 5 October 2024


 What should you ask before investing in a franchise? Ahead of The National Franchise Exhibition (4 & 5 October, NEC, Birmingham) Business Franchise offers 3 fundamental questions to ask franchisors during your research…


1. What is your USP? Ask what they see as their brand strengths or USPs (unique selling points). They should be able to summarise these succinctly, and explain how they communicate these to potential customers too! This will help you to identify where the franchisor’s priorities lie, how clearly they are able to articulate their vision and where the brand sits within their specific market.


2. What costs are involved? As well as the initial franchise fee, what other costs and commitments should you consider? Take into account premises, refurbishment, equipment, plus marketing and promotional costs, and it will help you to calculate when you might expect a return on your investment. You will generally be provided with financial projections, but remember these are not promises of performance. The success of your business will depend on your commitment and skills, as well as external factors. It can be useful to ask for past performance of existing franchisees to see what a typical year one, three and five looks like.


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3. What are your core values? Not only is it crucial to understand the values that drive the brand, but also to see examples of this in practice. If you are passionate about giving back to your community, for example, is this something that the franchise network is committed to? When you're passionate about your work, it significantly boosts your morale, ultimately translating into tangible business results.


No matter where you are on


your entrepreneurial journey, attending the UK’s flagship franchise exhibition is the perfect opportunity for budding


business owners to network with franchisors, franchisees and a whole community of industry experts all under one roof. A visit to the NEC, Birmingham, offers the perfect opportunity to unlock the lucrative potential of the franchise business model. You’ll have the chance to meet the faces behind industry-leading brands including McDonald’s, Vodafone Business IT Hubs, Home Instead, Ben & Jerry’s, Anytime Fitness and many more! With opportunities in food &


beverage to care, education to fitness, and investment levels starting from less than £10,000, there is a franchise to suit all budgets and ambitions. Turn to page 16 to read more about the brands bringing their opportunities this October. To book FREE tickets or to find


out more about what’s going on, visit FranchiseInfo.co.uk


BUSINESSFRANCHISE.COM 7


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