Advice about finding, financing, buying and running a franchise
Get helpful advice about finding, financing, buying and running a franchise.
Advice
This section provides advice to help you understand what goes into running a franchise. We hope to be able to help you decide which franchise is best for you.
“Franchising: the Pros and Cons” gives you an understanding of what are the Benefits and Drawbacks of buying a franchise. This features real life examples from franchisors as well as existing franchisees. This will help you assess whether or not you are suited to running a franchise and whether you possess the right skills and personality that is needed.
“What’s it all about?” explains the difference between setting up a franchise as opposed to a completely new business. There is a brief history of how franchising started and general information on the common misconceptions about franchises. There is also useful links to major industry bodies such as the “British Franchise Association” and the “International Franchise Association”.
“How Franchisees Are Selected” gives you tips and advice for what franchisors look for in a franchisee and the relevant qualities required. It explains how the franchisee relationship needs to work. This includes what the franchisor expects and requires in terms of Handling pressure and how the franchisee would cope with the Independence versus compliance aspects, which both parties need to consider.
The Uniformity and equality section explains that the franchisee should be vigilant in how the franchisor wishes to operate, as this will have a direct effect upon the working relationship.
There is also a page containing a video to “Finding the Right Franchise”, which is the FranchiseSales Chairman Marcus Markou provides tips to choosing the right franchise.
- Franchising: the Pros and Cons
- FranchiseSales.com examines the pros and cons of buying into a franchise system.
- Franchising: what's it all about?
- An introductory guide to franchising.
- How Franchisees Are Selected
- Every job has it's selection processes and franchising is no different. Have you got what it takes?
- Preparing your Business Plan
- All businesses plan to some extent, but the planning is often informal and ill defined. Get some tips.
- Selling Your Franchise in the Future
- Is your game plan all worked out? Is the end in sight?
- The Franchise Agreement: the essentials
- A contract is binding - make sure you know what you are getting yourself into.
- Top Ten Tips on Choosing a Franchise
- Suzie McCafferty, international development director of Smart Cartridge, offers some practical advice
- Video: Finding the Right Franchise
- Get some tips on how to find the perfect franchise opportunity.
- What Do I Do Now?
- What happens after you've bought a franchise? Andy Preston advises on getting new business for your new business.
