search.noResults

search.searching

dataCollection.invalidEmail
note.createNoteMessage

search.noResults

search.searching

orderForm.title

orderForm.productCode
orderForm.description
orderForm.quantity
orderForm.itemPrice
orderForm.price
orderForm.totalPrice
orderForm.deliveryDetails.billingAddress
orderForm.deliveryDetails.deliveryAddress
orderForm.noItems
Ask the expert s


What are your top tips for a prospective fra nchisee considering purchasing a fra nchise?


MIKE P ARKER


Managing director at Minster Cleaning Services


u Ÿ Ask ‘awkward’ questions. For example, ask about any failures that the franchisor has had in the network. Try to fi nd out if these were down to the franchisee or lack of support on the part of the franchisor. Ask about the franchise agreement renewal and establish whether the franchise is a real business, ie when you come to retire or leave, there’s a business to sell.


Ÿ It’s a two-way process: while you’re evaluating the franchise business, the franchisor should be assessing you as a prospective franchisee. Be very careful if you feel they’re not interested in your skillset and suitability.


Ÿ Make sure that you are allowed to speak to any franchisee in the network. Do not be steered by their preferences for you to speak only to their top performers.


Ÿ Is the business fully accredited with the British Franchise Association (bfa)? This is a kitemark of quality for franchisors. Through a code of ethics, bfa franchisors must disclose a range of details regarding their business.


Ÿ Be sure to put suffi cient time and effort into developing your business plan and the associated projections, as it will be your yardstic


28


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96  |  Page 97  |  Page 98  |  Page 99  |  Page 100