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What are the benefits of investing in a British Franchise Association member franchise?
One of the essential features of franchising is that prospective franchisees want to own and operate their own business, but want to do it safely by reducing the risks. Franchisors should have established a system they can prove works and that substantially reduces the risks of failure for a small start-up business, but not all franchisors operate to the highest standards.
Membership of the British Franchise Association does not guarantee the franchisor will be a good one and that you will be successful. What it does guarantee is the franchisor wants to do it right to a sufficient extent that it is prepared to go through the hoops and costs of applying for membership of the bfa and complying with its code of ethics.The whole point about the bfa’s requirements is that the organisation is there to ensure franchisees’ interests are fully protected. The bfa undertakes an accreditation process, while a reaccreditation process is also applied to ensure members continue to comply with its requirements. It is most unlikely that a franchisor not committed to being a good one would seek to join the bfa or indeed that such a franchisor would be accepted for membership. What this means is that the bfa provides a mark of approval, but not a guarantee of success.
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