KNOWLEDGE is king, and when you are investing in a franchise, potentially one of the biggest commitments you’ll ever make, having the right knowledge before you sign up to anything is absolutely crucial.
Compared with starting up in business on your own, franchising offers numerous advantages, including lower risk, training and support, and a proven system. However, it is still a business, so you need to be certain that franchising and the particular business you are interested in, are right for you; and just as importantly, are you right for the franchise?
Prospective franchisees will find a wealth of resources, including newspapers, websites and exhibitions, to help them find out everything they need to know about franchising.
One of the most valuable sources of information is the British Franchise Association (bfa), the not-for-profit voice of franchising in the UK which accredits and promotes ethical franchising. As part of its educational programme, the bfa runs a series of one day franchise seminars at locations throughout the UK.
Delivered in two separate formats, these are ideal for anyone seriously considering investing in a franchise business, and for current owners of successful businesses who may be looking at franchising as a way of expanding in the future.
Marketing manager Tom Endean said: “The seminars are extremely useful as they bring certain questions to the forefront of you mind, make you think about the real considerations, and provide a structure for your next steps. They are also a source of advice on which advisors and service providers you should be speaking to. Research is one area of franchising that you cannot afford to miss, as it will only cost you more in the long run if you don’t get it right.”
Forthcoming Prospective Franchisee Seminars are due to take place in London on January 27, Manchester on February 17, and London on March 25.
For more information on seminar venues, and franchising in general, visit The BFA