Previewing the London event on February 17-18
Starting a new business isn’t easy. But what if you could have all the benefits of being an entrepreneur and the resources of a bigger company? Opening a franchise might be the right choice for you.
Franchising allows larger companies to branch out and grow, while giving people the opportunity to run their own businesses with the help and support of a company that has a proven formula for success.
Of course, that doesn’t mean opening a franchise is easy, but for many aspiring business owners, franchising has proven to be a much less risky, yet still rewarding, option.
If you do decide to buy a franchise, it can be a life changing experience. As there are many reasons why you should fulfil your dream of becoming your own boss and opening a franchise, we have listed the 10 best to help you understand why it will be a great investment:
10 reasons to choose franchising
- Turnkey business. Buying a franchise eliminates all the hard work, such as finding a location, negotiating a lease, hiring reliable contractors, and doing all this on time and within budget. When you buy a franchise, you’re buying a complete turnkey business.
- Proven system in place. All franchises have an already established system in place you must follow. These systems are designed to improve the overall productivity and increase sales of each franchise. Having a proven system eliminates the guesswork and errors a common business owner would normally face.
- Higher likelihood of success. Since there’s an already established system in place, there’s a higher likelihood of success. If you follow the system, you should be on your way to running a successful business.
- Corporate image and brand awareness. If you buy into a franchise that’s already established, the corporate image is recognisable and brand awareness high. Customers are usually more comfortable purchasing items they are familiar with and working with companies they know and trust.
- Easier to obtain financing. Banks are usually comfortable financing the purchase of a franchise because they already have a proven track record. Lenders usually look at successful franchise networks as having a lower risk of repayment default and are more likely to loan money based on that premise.
- Training. Most franchise companies provide a comprehensive training programme, which is usually held at their corporate offices or an actual franchise location. The franchisor will train you to run your franchise in exactly the same way its other franchise locations are run. This will ensure you’re running your business efficiently and help to eliminate any common mistakes a new business owner usually faces.
- Ongoing support. When you buy a franchise, you’re never alone. You’ll always be able to pick up the phone to the franchisor and even other franchisees and ask questions.
- Marketing. There’s no need to worry about advertising your franchise, as the franchisor usually handles all the marketing. If not, it will have a system for you to follow and sometimes specific vendors with systems in place for you to use.
- Exclusive territory. When you buy a franchise, you’re usually also securing an exclusive territory in which to do business. You will be entitled to a certain area and no other franchisees within your franchise network can open within that area.
- Own multiple locations. Being part of a franchise will give you more opportunities to grow within the system. Once you’ve established your first franchise, the next step is to become a multi-unit franchise owner.
Turning over £13.7 billion, which represents one per cent of the UK’s GDP, and employing 561,000 people, the franchise industry is big business in the UK.
For some, investing in a franchise is the perfect fit as it offers a readymade business model with a loyal customer base, a tried and tested brand, relationships with suppliers, an online presence and extensive training.
All these elements result in a lower level of risk. It’s all there, boxed up and ready to go. If businesses came flat-packed from a certain retail giant, they’d probably look like franchises.
In addition, the franchise industry has seen significant growth in recent times and it’s now more diverse than ever, with the UK proving fertile breeding ground for franchises of all shapes and sizes.
The industry is now ripe with opportunities for franchise first-timers, as well as experienced business owners looking to expand their portfolios.
The Franchise Show
Following the success of the 2016 London Franchise Show and the first Irish Franchise Show in Dublin, the organiser is finalising the programme for the next London show, which takes place at ExCeL, London on February 17-18
Over the last seven years, The Franchise Show has helped thousands of people make their move into business, offering access to the latest information and opportunities within this fast moving industry.
The Franchise Show represents the industry’s diversity at its fullest, continually delivering an event that puts visitors in front of a comprehensive exhibitor line-up. The 2017 show already has over 180 brands exhibiting, including McDonald’s, Sanondaf, Family Holidays, ActionCOACH, Coyote Ugly and Pizza GoGo.
For the first time, Microsoft will be one of the main sponsors of the show and will facilitate a product demonstration area, focused workshops and advice, all specifically geared towards running and managing a franchise.
At the show, you will find an unparalleled amount of information, opportunities and contacts, spanning every area of franchising.
Does the franchise you’re interested in have a strong brand and good processes? Is it an easily replicated model? Profitable? The Franchise Show will allow you to scope out the industry and process all the information you need to make an informed, educated decision.
High investment, high return opportunities are also available at The Franchise Show, offering visitors the chance to meet people who have successfully established master franchises.
To complement the UK brands at the show, many international franchises will be present, all looking for franchisees to take the reins of their concepts in the UK.
Many of the international brands exhibiting at the show are not currently trading in the UK and are therefore offering you the opportunity to acquire the master franchise license.
This will give you the chance to take responsibility for a network of franchises in the UK.
For your free ticket visit www.thefranchiseshow.co.uk.