Franchising offers an excellent opportunity for you to be in business for yourself. When you hear the word " Franchise" you probably think of fast food restaurants such as Burger King, McDonald's or Wimpy. But the truth is Franchising is so much wider than that.

In simple terms, franchising is where a successful business format is replicated. This will involve the setting down into an operations manual all the systems and procedures that the business owner has found gives them the best chance of success. Anyone joining the franchise will be expected to operate the business exactly as set out in the manual.

There are franchises available in almost every business area that you can think of in all price ranges. In addition, because franchising has such a low failure rate, your chances of success are extremely good.

So let’s have a look at the benefits of franchising


Better chance of success

Research has shown that of all businesses starting today, only 20% will still be trading in 5 years time. With franchising these figures are reversed. The reason for this represents the other benefits of franchising.


A Proven Business

With franchising you are buying into a business that is already operating. The Franchisor will have made mistakes along the way and will have learnt from them. This knowledge is passed on as part of the franchise system. It enables you to start your business at a much higher point on the learning curve.


Support

Within a franchise there is or should be a great deal of help and support available. The support that you will need will change as your business grows. From day one you will need training and will be reliant on the Franchisor. As you become established, you will benefit from different types of support such as staff training and National account business. It may well be possible to collaborate with other franchisees on larger projects and just being part of a larger organisation can help


Problem solving

From time to time you are going to hit problems. Your Franchisor should be able to provide you with the necessary technical support. However it is invaluable to be able to talk things through with other franchisees, or the support team who may well have dealt with the same problem recently.


Management support

Many Franchisor's will hold review meetings with you to discuss all aspects of the business. You will be able to check your progress, celebrate your successes and plan for the future. Many businesses have failed in the past due to lack of good business advice.


Product Research and Buying Power

As part of a franchise network much of the product research and testing process will be carried out for you. It is also possible to take advantage of group buying discounts

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