A Path To Independence

Franchise ownership is more than buying a business. It’s a path to independence. It’s a new, bold career change. It’s an investment in yourself with the peace of mind that comes from knowing you’re not alone and great support programs are right there for you. The key is finding the right opportunity for your unique situation, interests, and experience.

Each type of franchise business has its merits and strengths. There are opportunities in nearly every business category, and many have financing options to fit your needs. They all, however, want you to succeed as an independent entrepreneur.  Determining which ones are best for you is where How2Franchise can help

Give us a call or visit our franchise website 

01295 722863

http://www.franchisenews247.com/cms/index.cgi 

Is Buying a Franchise a Good Idea?

One of the options for those who want to own a business is to buy a franchise. When you purchase a franchise, you are basically buying the right to operate a retail location under an established brand. Often, people think of food establishments, like McDonald’s or Subway when they think of franchises. But it is also possible to open a franchise for home goods stores, clothing and cell phones.

With a franchise, you own and run the store. However, you get to use a well-known name and you receive some support and resources from the corporate headquarters. Buying a franchise can be expensive, though. Different brands come with different costs, so you need to do your homework ahead of time. Additionally, it is important to understand the pros and cons of buying a franchise.

Advantages to Buying a Franchise

Perhaps the biggest advantage to purchasing a franchise is that you pretty much have a turnkey system in a number of cases. You are provided with set inventory, a specific way of doing things and you are “plugged in” to advertising efforts for the whole chain. When you buy a franchise you are instantly part of a recognizable brand that probably already has marketing materials, advertising and more. Other advantages of buying a franchise include:

Access to inventory:

In many cases, you have access to standard inventory. You might even have access to it at discounted prices. This can provide you with the ability to offer products that people already recognize and trust. Plus, there is a quality control aspect associated with accessing ready-made inventory.

Equipment rental or purchase plan:

 Some franchises offer you the ability to rent the equipment you need or some of it might come with your start-up package. Other franchises offer a reasonable purchase plan so you have access to what you need. It makes the costs associated with getting the necessary trappings a little more manageable.

Hiring processes and HR support:

It can also be helpful to have a lot of the legal aspects of hiring and working with employees already worked out. Plus, as a franchise owner, your business name is recognized and can be easier to attract better employees. Make sure you understand the hiring practices at the chain. Often there is a handbook that can help you make the right choices and the right time. Having a process to follow can be extremely helpful.

If you struggle with marketing and if you are unsure of where to start when it comes to a business, a franchise might not be a bad idea. This is especially true if you feel overwhelmed by all the processes. A franchise that provides you with step-by-step setup help and continuing support, can be a good choice.

Bloxham Mill-based business How2 Franchise expands to Moscow as well as Beijing and Saudi

Franchising is such a powerful, yet simple way to expand a business. How2 Franchise not only advises and supports its own clients as to how to increase their own brand power by replicating their models for success, but it’s actually exemplifying just how it can be done. Trading for 25 years, with 10 franchise partners and 20 franchisees around the world, How2Franchise has just opened a new office in Moscow in addition to existing offices in Beijing and Saudi Arabia. Employing 4 people (including a specialised lawyer) at its Bloxham Mill HQ, How2Franchise’s global franchisees and staff now number over 50 and, in total, the company to date has helped over 1,000 franchisors set up their franchise model Brand power Chief Executive Officer and global keynote speaker, Rod Hindmarsh says, “From a brand awareness perspective, the power that franchising replicates is quite considerable. Once the blueprint of any business is right, ‘bedroom businesses’ can span the world simply by franchising.  “We’re actually doing just that; running a franchise operation that has a footprint in several international offices, from a single UK office.” Talking of brand power, excitingly, Rod is currently assisting celebrity adventurer and survival expert Bear Grylls to franchise his new BG Epic Training (www.bgepictraining.com) concepts.   On-the-ground support Rod is willingly nomadic and visits prospective franchisees wherever they happen to be located. “Our service is of course all about helping businesses to replicate their business models in terms of documentation and legal agreements, etc., but we also help them to find and recruit franchisees. The best way to maximise opportunities is to meet in person and build up a trusted relationships. Franchisors and franchisees share dedication to their own brands and there is definite business camaraderie because they’re all in it together, he adds. For instance, How2 Franchise is currently working with nine managing directors, all collaborating, which just proves how franchising engenders an entrepreneurial spirit. Rod concludes, “It’s so rewarding working with franchisors and their franchisees; giving them advice and support and ultimately, watching their businesses grow from their first successful blueprint.”   Interested in finding out more about franchising? Telephone Tom Field 01295 722846 enquiries@how2franchise.co.uk                                                www.how2franchise.co.uk

Fascinating franchising Facts & Figures…   According to Nat West and the British Franchising Association…   98% of franchisees make a profit in their first year Industry annual turnover: £15.1 billion In comparison, over 90% of businesses fail in their first year (Lloyds) And 94% of franchisees are still trading five years’ after they started up…  Women are in the top five most successful franchisees International brands you may not expect to be franchised…    Holiday Inn / Hilton Hotels / Marriott Hotels Harry Ramsden’s Redline Recruitment McDonald’s / Burger King / KFC Pizza Hut   Local franchise brands… Kumon Sandler Training Cloudy2Clear OvenClean Cookerburra

What about franchising overseas?

Growing your business through international franchising will start in one of two ways: either by a company which has produced a planned offer, or from an enquiry made via the internet or from a franchising exhibition.

By expanding overseas and using local franchisees, you are able to tap into the local business knowledge/market and the franchisee is in a much stronger position to deal with legal and cultural issues. 

There are several ways in which an international franchise arrangement can be structured, and below are some of the options to consider:

1. Master franchise 

This involves the franchisor granting franchise rights for the whole or a part of a country to a local business entity (a master franchisee). These rights then allow the master franchise to operate its own outlets and to grant franchisees to other local business entities within that country or a specified region. 

2. Direct franchising 

The franchisor grants direct franchise rights, along with continuous training and support to a franchisee in another country. However, this type of structure is suitable where only one or two branches will be opened in a particular country.

3. Joint ventures

Joint ventures involve a franchisor establishing a joint venture with a local business entity. A master franchisee is then granted to the joint venture, which becomes the national franchisor. 

4. Subsidiary 

This involves the establishment by a franchisor of a subsidiary in another country. The subsidiary would then grant individual franchises in that country and has a local presence. The franchisor will have a personal relationship with the franchisee and will retain total direct control of the franchise system.

These structures can be used in a variety of ways and each will have their own benefits and drawbacks. However, before thinking of franchising, you will need to have a proven franchise system, a training module, processes, procedures, and a format which can be easily duplicated and be profitable for both the franchisor and franchisees. Recruitment, motivation and development of quality franchisees will be the key to success. 

The Big Advantages

The main three benefits of growing your business through franchising are money, time and people.

Franchising allows you to use other people’s money to grow your business, while being less involved in the day-to-day operations. It provides a method for growing your business quickly, whether you plan to grow locally, nationally or internationally. You will continue to grow and expand, as long as there are available regions and people want to purchase your products or services. It attracts highly motivated people who have local expertise, and generally requires less staff to operate. 

You will also have a competitive advantage since you already have a brand, a positioning statement and proposition as well as market share. In the recent afore mentioned NatWest survey, three out of four people saw a competitive advantage with a franchise, as opposed to opening a new business from scratch. Also, the forced failure rate for franchised businesses more recently has been averaging four per cent, so much better than the economy as a whole.

Why Franchise?

Let’s start with the statistics. The 2012 NatWest/BFA franchise survey shows the franchise sector is doing pretty well.Turnover in the sector is now in excess of £13.4bn, an increase of four per cent with over 40,100 franchising units employing 594,000 people. So, why consider franchising?

Franchising is a method of expansion for an established and successful business looking to grow a network. It can also help businesses to expand both nationally or internationally, strengthen the brand and reach of a company and act as a good method of securing its future – but only if it’s done well.

As a business owner, you have already developed a proven system, faced the challenges of starting the business and created and refined the strategies and procedures responsible for its success. You also know how to market your business, who to hire and how to train employees.

So, when considering franchising your business, you first need to gain a full understanding of the advantages and disadvantages, the financial aspects of the relationships between the franchisor/franchisee and how this will impact on your current business operations.

Once you have this understanding, you need to ensure that your business has certain key elements in order to make it successful. These include: 

• A clearly defined trading name, brand and system;
• A format which is proven, successful and which can be easily duplicated;
• Profit to support the franchisor and franchisees; and
• The ability to adapt to a culture in which roles and responsibilities are clearly defined.

Ask yourself, is your business successful and profitable with an established client base? Can you show that your business can be replicated? Do you have scope to open additional outlets or offices around the country?

Website: http://realbusiness.co.uk/article/14776-the-good-sides-of-growing-your-business-through-franchising 

Are You Already A Franchise & Need Help Advertising

Do you need help and support on your franchise?

How2Franchise are now offering companies who have franchised a free slot on our website as well as use of other marketing services, This is fantastic for you as we will actively help to sell your franchise on a commission basis 

We would like the opportunity to come out and meet you in person to have an informal meeting over a coffee  and a couple of biscuits. If this is something you may be interested give us a call today on  

01295 722863

or for more information visit our website http://www.how2franchise.co 

Do something different

Have you ever wanted to be your own boss ?

We at How2Franchise look after a fantastic range of companies that franchise from fish and chips shops, to gardening and we always look forward to talking and giving people the opportunity to become there own boss and a own a franchise

Give us a call today or visit our website

01295 722863

http://www.franchisenews247.com/cms/directory.cgi

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via 5 Things You Need to Know Before Owning a Franchise — The Job Blog