The franchise business will contact you by means of email and/ or telephone only to the email address and phone number you have provided.
By submitting the enquiry form you are consenting to send your personal information to the selected franchise business.
You also agree to receive further newsletter email marketing from What Franchise.
Close
Are there any restrictions on who can become a franchisee?
John Pratt writes:
The short answer is no. Being a franchisee is not dependent on high educational attainment or even business experience, but prospective franchisees need to bear in mind that for the better franchise offerings franchisors will only select franchisees who they believe will make a success of their business.
Franchisors will always seek to
establish whether a candidate has the ability and drive to be successful, as well as the necessary funding to take on the franchise. Most established franchises have arrangements with the franchise units of the leading UK banks to assist franchisees to obtain bank finance, but franchisees nevertheless need to have their own financial resources because banks will not lend the full amount required.
Prospective franchisees must present their business plan to a bank because the availability of finance is never a foregone conclusion. In practice, therefore, if external finance is required and a prospective franchisee has been bankrupt or involved in a business that went into insolvent liquidation funding may be difficult to obtain.
Franchisors tend to look for business experience (although not necessarily in the same business area of the franchise), family support, adequate financial resources, drive and enthusiasm.
John Pratt is senior partner at specialist franchise firm Hamilton Pratt and has advised franchisors for over 25 years.
You might also be interested in
Answered by Vincent Anthony
Vincent Anthony writes: The property market has wide appeal because it is relevant to everyone: we all... read more
Answered by Louise Harris
Louise Harris writes: Richness or wealth is relative. We always want more, I guess. So, what is... read more
Answered by Shelley Nadler
Shelley Nadler writes: A concern that businesses may have when deciding to franchise their business, is the... read more
Answered by Alan Wilkinson
Alan Wilkinson writes: There are two elements to consider here. First is the franchise fee itself, and... read more
Exciting Franchise Opportunities
Start your own Fun Fest for Children franchise
Yes
Find Out MoreFrom £30,000
Request Free Information
Send a free enquiry to Fun Fest for Children for further information!
Start your own Betterclean Services Franchising franchise
Yes
Find Out MoreAverage net profit margin 20%
Request Free Information
Send a free enquiry to Betterclean Services Franchising for further information!
Start your own Amorino UK franchise
Yes
Find Out MoreN/A
Request Free Information
Send a free enquiry to Amorino UK for further information!
Start your own Burger Drop franchise
Yes
Find Out MoreN/A
Request Free Information
Send a free enquiry to Burger Drop for further information!
Start your own PACK & SEND franchise
Yes
Find Out MoreN/A
Request Free Information
Send a free enquiry to PACK & SEND for further information!
Companies to Consider
Get expert franchising news delivered straight to your inbox
Franchise news, advice and new opportunities delivered weekly.
Must Read Articles
-
Meet the franchisees building their businesses alongside their day jobs
Added one day ago | 2 min read
-
Business owner John Davidson felt exhausted from 100-hour weeks… that was until he met ActionCOACH
Added 6 days ago | 2 min read
-
Comeback kings: When is the right choice to invest a brand returning to the UK?
Added one week ago | 2 min read
Franchises by Minimum Investment
Find your next business opportunity
Search 100s of UK franchises and become your own boss today.
-
Under 10k
Starting a franchise doesn't have to be costly
Click here -
Under 20k
A mid-range investment for the more experienced
Click here -
Over 50k
If budget is not an issue, then don't miss these.
Click here -
Local Franchises
Find the perfect franchise in a location to suit you
Click here
What Franchise Newsletter
Keep up to date with all the industry news