The information you submit via our enquiry form is shared only with the franchise business(es) that you have selected.

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

Why take a gamble when you can invest in a proven brand?

Why take a gamble when you can invest in a proven brand?

While buying a franchise doesn’t guarantee a favourable outcome, pick the right one and it should radically reduce the odds of failure

At the start of every year, there’s a renewed interest in franchising. Despite the challenges of COVID-19 and Brexit, 2021 is no different.

Buying a franchise is not a guarantee of success, but pick the right one and it should dramatically improve your odds. Why? In a nutshell, someone has already built a viable business, created a strong brand, proven the business model, documented the relevant systems and procedures and then, for a fee and an ongoing royalty, will provide you with comprehensive training, ongoing support and everything you need with which to replicate their success in a new location.

That’s the theory, of course, but if you want to own your own business why not just start one and save yourself the upfront fees, ongoing royalties and restrictions? It’s a good question and one with multiple parts to the answer.

Impressive statistics

In 2018, NatWest and the British Franchise Association produced their most recent report on the health of the UK franchise industry. It revealed the sector’s £17.2bn turnover and the fact that 93 per cent of franchisees reporting profitability, a third operate multiple units, 18 per cent are under 30 and 30 per cent are females. Given that a substantial number of start-ups close their doors before the end of their second year, 93 per cent of franchisee-owned units reporting profitability is an impressive statistic.

Due diligence

Franchising is all about the replication of a successful business, but how do you know which one is right for you?

Figures vary, but it’s widely accepted that there are at least 950 franchises operating in the UK. Choosing the right one takes time, planning, research and honesty from everyone involved, including you, the franchisor and even your partner or family.

Whichever sector you choose, one key part of your due diligence will be attending a discovery day, which is likely to be online for at least a good chunk of the year.

These early meetings are about fact-finding, but also about building mutual trust. You’re entering into a business partnership, which is expected to last a minimum of five years. It’s therefore important that you like, respect and trust the franchisor and vice versa.

Don’t be afraid to ask searching questions, either. A franchisor should be able to answer them all, unless there are valid reasons, such as company confidentiality, which might preclude disclosure of certain information.

Talk to franchisees

Also, while it will be trickier to do this year, speaking informally to existing franchisees about their experiences is invaluable. But be respectful of the franchisor’s guidelines - they are likely to want to at least know you are semi-serious before they let you disturb their franchisees at work.

Every franchisor and franchisee will have their own story to tell about how they’ve coped in the last 12 months and the changes they’ve likely had to make.

One thing is almost certain though: they will all feel lucky to have been part of a franchise network rather than left alone to fend for themselves. There’s a lot of strength in numbers and in shared experience. Remember, franchising is the ultimate opportunity to be in business for yourself, but not by yourself.

The author

Suzie McCafferty is CEO of franchise consultancy Platinum Wave.

Exciting Franchise Opportunities

Amigos Burgers and Shakes logo

Start your own Amigos Burgers and Shakes franchise

Profit Chart
Funding Support Available ? Help is available. Check out our franchising funds guide.

Yes

Find Out More
Expected Revenue After 2 Years

£480,000 - £1m (from 14% profit)

Request Free Information
Find Out More
Amigos Burgers and Shakes logo

Request Free Information

Send a free enquiry to Amigos Burgers and Shakes for further information!

By sharing your email, you're agreeing to our privacy policy, cookie policy and terms & conditions.
Local Shops logo

Start your own Local Shops franchise

Profit Chart
Funding Support Available ? Help is available. Check out our franchising funds guide.

Yes

Find Out More
Expected Revenue After 2 Years

N/A

Request Free Information
Find Out More
Local Shops logo

Request Free Information

Send a free enquiry to Local Shops for further information!

By sharing your email, you're agreeing to our privacy policy, cookie policy and terms & conditions.
Flash Global logo

Start your own Flash Global franchise

Profit Chart
Funding Support Available ? Help is available. Check out our franchising funds guide.

Yes

Find Out More
Expected Revenue After 2 Years

N/A

Request Free Information
Find Out More
Flash Global logo

Request Free Information

Send a free enquiry to Flash Global for further information!

By sharing your email, you're agreeing to our privacy policy, cookie policy and terms & conditions.
Explorer Franchise by Hays Travel logo

Start your own Explorer Franchise by Hays Travel franchise

Profit Chart
Funding Support Available ? Help is available. Check out our franchising funds guide.

Yes

Find Out More
Expected Revenue After 2 Years

£35,000

Request Free Information
Find Out More
Explorer Franchise by Hays Travel logo

Request Free Information

Send a free enquiry to Explorer Franchise by Hays Travel for further information!

By sharing your email, you're agreeing to our privacy policy, cookie policy and terms & conditions.
Blossom Home Care logo

Start your own Blossom Home Care franchise

Profit Chart
Funding Support Available ? Help is available. Check out our franchising funds guide.

Yes

Find Out More
Expected Revenue After 2 Years

N/A

Request Free Information
Find Out More
Blossom Home Care logo

Request Free Information

Send a free enquiry to Blossom Home Care for further information!

By sharing your email, you're agreeing to our privacy policy, cookie policy and terms & conditions.
View all opportunities

Must Read Articles

View all Business Advice