Franchising as your route into business start up?
What is franchising?
Well-recognised businesses such as McDonalds, Thorntons, o2, Threshers, Snap-on Tools, Costa Coffee, Apollo Window Blinds, Bang & Olufsen, Kall Kwik and Dominos are all franchises that are often run and owned by independent business people like you.
Buying a franchise allows you to have your own business without having to start from scratch. You don’t need experience in a specific industry, and by purchasing a tried and tested formula you benefit from the support and experience of the franchisor – which means the risks are substantially lower.
Franchisees come from all walks of life and backgrounds, with ready-made business opportunities offered across a wide variety of industries – fast food, B2B, cleaning, motoring, estate agencies, maintenance, home furnishing, pet care, children services, gardening, health and fitness, beauty, printing – to name just a few.
Did you know…
- The UK franchise industry is valued at £9.5bn
- 92% of UK franchisees report profitability
- The average turnover for franchised businesses is £318,000
- An estimated 364,000 people are now directly involved in franchising
- The NatWest/BFA Survey 2006
Is Franchising for You?
Franchising unfortunately isn’t for everyone. Franchising requires a particular mind-set and attitude, like the willingness to stick to someone else’s system, without wanting to make changes. You will however have to manage, market, promote, and sell, as well as undertake the many other tasks that have to be completed on a day-to-day basis.
You might be attracted to the idea of running a franchise, but do you really know what is required of from you? To find out more about franchising, and whether it is the route into business start-up for you, as well identifying the opportunities available, visit the Hammersmith & Fulham pages of our website www.whichfranchise.com