The option of franchising is increasingly popular with entrepreneurs, and the number of franchise businesses for sale also continues to grow.
If you’re looking to purchase a franchise business, there are a number of resources to help you. Here are some of your options.
When it comes to looking for franchise opportunities, the internet is the ideal place to start. There are a number of directories featuring franchise businesses for sale, including the listings within our Franchise Opportunities section..
Here you’ll find a wealth of opportunities available, including home-based businesses, high street retail units, mobile businesses and office-based operations.
Categories include: business and professional services; care and elderly services; children; cleaning; commercial and industrial; communications; delivery and haulage; food and catering; health and beauty; high street retail; homecare and property maintenance; lettings and property; motoring services; pest control; petcare; print and promotional services; services; travel and leisure; vending; low-cost franchising.
Select whichever category or categories you find of interest and start searching for opportunities. You’ll also find plenty of valuable franchising advice and guidance on the website.
Also worth checking out is the website of the British Franchising Association (BFA) – visit: http://www.thebfa.org. The BFA is the self-regulatory body for the UK franchise industry and the website contains useful information and contacts for anyone thinking of buying a franchise business.
Exhibitions and trade shows
Another way to find franchise opportunities and information is to visit the various franchising exhibitions and trade shows up and down the UK. This will offer you the chance to meet with franchisors in person and compare the options available to you. You can have your queries answered on the spot and get expert advice on the best way forward. You might also be able to research funding options as banks and lenders are often in attendance.
To get the most out of your visit, do your homework beforehand and find out who will be present. Draw up a shortlist of the franchisors you would like to talk to, do some research on them and prepare some questions in advance. If you can, pre-book meetings with your chosen franchisors at the shows; this might not be possible but even if you don’t get the chance to meet with a representative face-to-face, you should be able to obtain some valuable information on the options available to you.
Don’t rush into any agreements, though, or be tempted to sign on the dotted line at the exhibition – you should take your time and research all your options thoroughly. Don’t sign a contract without going through all the details, enlisting the help of a specialist franchise lawyer if necessary.
A broker could be useful in finding franchise opportunities ideal to your specific circumstances. Franchise brokers often have extensive databases at their disposal, and their contacts within the industry mean they frequently find out about new franchises early on. Of course, you will have to pay for their services but this might be worthwhile if it gives you access to the ideal opportunity. Brokers can be especially useful when looking for franchise businesses overseas.
If you’re thinking of using a franchise broker, research your options and look for recommendations from previous clients. Once again, the internet could provide you with the information you need – search for brokers in your area and look for customer opinions.