THE BRITISH FRANCHISE ASSOCIATION


THE UK' S VOLUNTARY S ELF - REGUL ATING GOVERNING BODY FOR FRANCHI SING


PIP WILKINS Chief Executive, BFA


Reaching a higher standard


welcome, we’re on stand J110, ready to answer any questions you have about franchising and if you haven’t made it to the show, don’t worry, your opportunity to ‘Discover your Tomorrow’ with a franchise still awaits, within the pages of this magazine.


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Franchise insights Franchising is a very successful business sector with – according to our most recent survey sponsored by NIC Local (on stand J70) – over 1,000 franchise systems and more than 50,000 franchisees. As a sector, we put £19.1 billion into the


UK economy and our ‘forced failure rate’ has been less than 6% for over 20 years (by comparison, 50% of new all new businesses fail within their first three years1


), so as you


can see, franchising is a comparatively safe place to invest your time and money.


Who are the BFA? Good question! Quite simply, the BFA have provided UK franchisors with a Code of Ethical Conduct since 1977, against which they build and measure their


10


nother October, another fantastic National Franchise Exhibition at the NEC! If you’ve made it to Birmingham,


businesses. Franchisors choose to become members of the association and by doing so demonstrate their commitment to what we call ‘ethical franchising’, which means doing things honestly and fairly.


he  nchising industry is ie no othe  ee  ssionte out ht e do


Joining the BFA as a franchisor


member is an in-depth process, where we check, amongst many other things, that the business is financially sound, that their franchisees are treated fairly, that their marketing and advertising is not misleading and that they continually strive to run their franchise to the very highest of standards. Although we still recommend you carry


out your own due diligence and, of course, always consult a franchise specialist solicitor, if you choose a BFA member franchise, you know they take standards very seriously. The BFA also run online classes every month to give you a better understanding


of what it means to be a franchisee or to franchise your business. Check out the ‘What is Franchising’ tab on our website for links to the courses.


2000th franchisee member


Did you know that franchisees are eligible to join the BFA for free? In 2020 we invited our members’ franchisees to join us, and we’re delighted to have recently welcomed our 2,000th


member. Gaynor


Gallant from children’s theatre school franchise, Theatretrain, is the new Brighton franchisee and says she is looking forward to: “Getting lots of advice and keeping up with news from other franchisees. As a newbie I feel I have lots to learn and the more support I can get from others, who are more experienced than me, the better.” Welcome Gaynor, we look forward to seeing you at an online meeting very soon.


#FranchisingStrongerTogether The franchising industry is like no other; we’re all passionate about what we do, and we’re thrilled you may be thinking of joining us. Feel free to come and talk to us if you have any questions or concerns – we look forward to maybe welcoming you into to the franchising family soon.  thebfa.org


1https://www.experianplc.com/newsroom/press-releases/2023/half-of-all-new-businesses-fail-within-three-years-of-opening


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