How To Start Your Own Franchise

By Tom Endean, Marketing Manager at British Franchise Association (bfa)

The first point of call for anyone looking to research franchising, is the bfa website (www.thebfa.org). It provides objective advice, various resources and listings of bfa accredited franchises. This way you can start by looking at and speaking to those businesses that have passed the stringent accreditation processes of the bfa. However, don't just go for the first business you see; visit exhibitions, attend educational seminars, read the franchising magazines that you can get in most large newsagents. All of these will give you a sound...

...and informed platform for you to make a decision about whether you are right for franchising and franchising is right for you.

If you are at the stage where you know you want to join a franchise, but just want to gather some more information before going any further, then look to speak to existing franchisees in that network. This will give you a realistic view of what it is like and what the day to day running of the business involves. It is also a good idea to speak to only the bfa accredited banks about finance and accredited solicitors about the legal documents involved. This all helps provide you with more information and support to make your decision.

Although franchises remain inherently more successful than their non-franchise counterparts, the banks or financial institutions will also view franchising as a safer more attractive investment. As a result, you are more likely to secure funding on a franchise than if you were trying to start up a small business from scratch because it is a proven business model. This attractive package naturally becomes a serious consideration for many individuals looking to start up a business, especially... continued on page two >

 

 

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