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4 ways franchising has changed since the coronavirus outbreak

4 ways franchising has changed since the coronavirus outbreak

A rapidly changing landscape has resulted in some significant developments in the franchise industry of late

The British Franchise Association has represented the UK industry and the interests of those operating within it since 1977. The ethics and standards enforced and the training and education surrounding them are unique and world-leading. Since the outbreak of COVID-19, development plans have accelerated within franchising and the bfa. Here’s what’s changing and how it could help you:

Information is more plentiful, but make sure it’s from a good source

Franchising provides an excellent route into self-employment and there’s now a huge amount of reference material available to assist you with your due diligence.

However, please be mindful that although franchising isn’t regulated in the UK, there is a European code of ethics that details information about ethical franchising. Your franchisor should be aware of this if they’re choosing to operate in the industry responsibly.

The bfa website has a directory of accredited franchisors, along with a free online programme to help you understand more about the realities of becoming a franchisee.

Digital connections

Most franchisors are taking elements of their recruitment processes online, while exhibition companies are running virtual meets to help you find out more about the opportunities available.

Make time to connect, ask questions and take advantage of the information at your fingertips.

Community learning

Whether you’re a franchisee or franchisor, the bfa has developed digital platforms that allow you to engage with your peers.
If you’re researching franchise opportunities or are an established franchisee, the bfa’s franchisee hub, which is hosted on Facebook, is an opportunity to benefit from a range of educational, support and inter-trade benefits.

The bfa’s franchise support forum provides a similar opportunity to franchisor members on LinkedIn, ensuring that the industry receives critical information in a timely manner. In addition, for many years the bfa has run ‘buy a franchise’ seminars, which will be relaunching soon as live webinars.

Franchise surgeries, power hours and a virtual series are all community learning initiatives that have been launched in the last eight weeks - and there are more to come.

We’re committed to making the bfa accessible to all, which means we’ll be offering low-cost solutions to those that need the accredited advice and standards-based information most. In order to maintain high standards, we need to ensure everyone has the opportunity to benefit from the education needed to operate to them.

Industry intelligence

Trade association and CBI partnerships, along with industry intelligence from bfa members, means we’re in a strong position to lobby on behalf of the franchise sector.

Not only this, but the data and insights gathered from our recent survey further adds to the impact analysis and trend information that is critical to informing wider industry decisions.

The author

Emily Price is chief operating officer at the British Franchise Association.

 

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