With all the different franchise events on offer in the UK, how does a potential franchisee choose which one to attend?
An exhibition supporting businesses that adhere to the British Franchise Association’s ethical franchising standards will ensure more than simply peace of mind. People who are thinking of entering the world of franchising in the UK are particularly well served - some might say spoilt for choice. Numerous websites, seminars, information evenings and franchise exhibitions all claim to offer the prospective businessman or woman the opportunity to change their working lives and provide the inside knowledge needed to help them choose the right one.
Most franchises extol their virtues and describe their business as offering increased personal rewards, improved profits and a better work/life balance. But are all franchises created equal? To quote George Orwell, some are more equal than others. The same is true of franchise exhibitions.
Popular
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Looking around at what is on offer, how is a potential franchisee to choose between the various events available? Which is the best path to follow? Two franchise events have taken place in London already this year - The Franchise Show at ExCeL and The British and International Franchise Exhibition at Olympia.
The popularity of The British & International Franchise Exhibition spoke volumes, with the exhibition aisles heaving with visitors throughout the two days. The free exhibition seminars were hugely popular among visitors and every seminar was packed with eager attendees ready to learn.
Not only did the event attract people from all over the UK, it was also a hub for international visitors attending from over 40 different countries, including the Netherlands, Spain, Germany, Italy, France Switzerland, Russia, Denmark, Hong Kong, China, America and Canada. But why was this particular franchise event so popular?
The exhibition is part of a portfolio of events produced by Venture Marketing Group (VMG), which is exclusively supported by the British Franchise Assoication (bfa). These events are synonymous with high quality, as all exhibitors must be accredited by the bfa, which checks that exhibiting companiescomply with the organisation’s strict code of ethics. This means that visitors to VMG’s portfolio of events are safe in the knowledge the businessess they are looking at offer an ethical format franchise.
This accounts for an entirely more positive experience for exhibition visitors, such as Dev Shah’s, a banker from the City of London: “I visited another recent London franchise exhibition at ExCeL and gathered some background information, but realised The British & International Franchise Exhibition is altogether a much bigger event with more interesting exhibitors.
“I’ve got money in the bank waiting to be invested if I find the right business that is scalable. I planned meetings with two companies before I came, but was open to considering other opportunities that I see here.”
Adrian Goodsell, head of franchising for VMG, puts the success of The British & International Franchise Exhibition down to trust. “People can come along to The British & International Franchise Exhibition and feel safe in such an environment, knowing that only franchises that have been accredited are exhibiting,” he says.
As the bfa itself puts it: “One of our main jobs is to help potential franchisees recognise the good, the bad and the ugly franchise opportunities.”
It is not simply a philanthropic exercise, but makes good commercial sense. “The ability of franchisors to attract potential franchisees to invest in their systems depends, crucially, upon their own reputation and on the reputation of franchising in general,” Pip Wilkins, the bfa’s head of operations, says.
Essentially, the bfa is recognised as the voice of UK franchising by the government, academia and the media. As the UK’s only trade association in this sector, its aim is to help franchise brands grow within a strict set of ethical and quality standards.
Ethical
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The importance of maintaining ethical standards in franchising began in the 1970s when the word ‘franchising’ became, rightly or wrongly, associated with a number of unreliable pyramid schemes. In 1977 some of the biggest franchises in the country formed the bfa to differentiate their own business practices from less scrupulous ones.
The industry has come a long way in the last 40 years. These days the franchising model applies to a growing spectrum of businesses, from solo-run or home-based opportunities such as shampooing dogs or teaching children to play football, to multinational brands such as Domino’s, Subway and McDonald’s.
Unsurprisingly, the popularity of franchising continues to grow. But with the amount of choice in the sector, it’s more important than ever for potential franchisees to know that a franchise is not just out to make a quick buck from them.
“As with any business venture, it’s crucial to do your homework before buying into a franchise,” Venture’s Adrian Goodsell says. “But people who are new to franchising may not know that the bfa only focuses on companies that follow the code of ethical practice in the UK. Ethical franchising not only helps the industry to develop credibility, but ensures favourable circumstances for the growth of new business.”
Nothing beats a face-to-face meeting, as Nicholas Hall, commercial property owner and recent visitor to The British & International Franchise Exhibition, explains: “Before coming to the exhibition, I identified seven companies to meet with, as I believe faceto- face meetings are very important.
“It’s been a really good use of time meeting them all in one day and I have already arranged a further meeting with one exhibitor for next week. Once I find the right opportunity, I am ready to invest.”
Prepared
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Exhibitions are a great way to find the perfect franchise and it’s worth remembering that franchisors will be assessing potential franchisees as well. Visitors who impressed businesses were well prepared. As Scott Choma, senior vice president of international development for Johnny Rockets, an exhibitor at The British & International Franchise Exhibition, explains: “We’ve met a lot of very interested, very inquisitive, enthusiastic people. They have been the right type of candidates for us. The visitors have exceeded our expectations.”
James Dixon-Box, events coordinator for Platinum Property Partners, which also exhibited at The British & International Franchise Exhibition, says: “We’ve got a fantastic number of superb quality candidates. We’re very thorough in qualifying them and an enormous number of them have exceeded our standards in relation to funds, levels of interest and motivation. As London events go, this has been the best we have experienced this year for quality and quantity of qualified visitors.
