Learning how to build a budget for your franchise is one of the most important things for any new franchisee to get to grips with. A good business budget is one of the cornerstones of managing your finances.
Forging an effective franchisor-franchisee relationship is the key to most successful franchises, but it can get lost in all the other aspects of running a franchise.
Becoming a master franchisee can be a fantastic way to develop your managerial skills and boost your income. But it doesn’t suit everyone. Here, you’ll find more information on what exactly master franchising involves, and the pros and cons associated with it. Master franchising is on the up.
If you’re in the process of launching an independent start-up and want to build a franchise network, it’s important you keep your goal in mind from the outset. In this article, we reveal how to start a new business with a view to turning it into a franchise.
Can a franchisor terminate the franchise agreement? The answer is yes, if you stick to the official process set out within it. Keep reading to find out how you break up with a franchisee without risking your money and reputation.
No business owner wants to make staff redundant, but if worst comes to worst, you need to know how to handle the process efficiently, professionally and compassionately. We’ve listed the 12 steps you need to take when managing redundancy.
We strongly recommend franchisors join a franchise association to give their franchise network more credibility. This is our guide for doing so. In some countries, franchising is regulated by the government. But in the UK, this is not the case.
Do you dream of opening your own hair salon? Or maybe you’ve always wanted to start a barbershop. If this sounds like you, you’re in the right place. Let’s run through the advantages of launching a business in this field, and discuss the 10 key steps to bear in mind when you do.
Franchising can take away some of the stresses that come with starting your own business. But it doesn’t mean that you’ve escaped from those associated with sorting out your taxes. To make life simpler, we’ve created the ultimate franchise tax checklist.
Whether you’re new to the franchising world or a seasoned professional you might be interested if there is really such thing as a joint venture franchise. Let’s find out.
The UK’s second national lockdown will bring in new restrictions, with varying rules across industries. Here’s our guide to the Covid-19 government regulations and the business support on offer.
The multi-unit franchise model is becoming increasingly popular - but what does it actually involve? We’re here to demystify the world of multi-unit franchising.
If you’re interested in starting a business under a franchise brand or franchising your company, you’re probably aware of the basic structure of the model. ‘Franchisees’ invest in an established brand and set up a new branch in their own territory.
You’re interested in running your own business, and you’d like to take the franchise route, operating under a recognised brand. But what exactly does a franchise owner do? Here, we take a look at what it means to run a franchise unit, and what you’d be doing on a day-to-day basis.
Every business owner should take the time to analyse their organisation’s performance metrics. Even if you’re working under a franchise brand, you should still be continually monitoring progress. Here’s how to measure success.
If you’re new to franchising, you’re probably wondering what a franchise operations manual is and why it’s so important. In this article, we’re going to take you through the basic elements of one and how it can make all the difference to your franchising journey.
Running your own business involves a significant amount of dedication and hard work, but what credentials do you need to be considered an entrepreneur? And do franchisees fit under the same umbrella? Here, we explore the difference between entrepreneurs and franchisees.
If you’re choosing between a BFA-approved franchise and another one without the accreditation, you might be wondering if there really is such an advantage of selecting the former.
No business is immune to security breaches. Large firms are attractive to cyber criminals for their huge volumes of data, while smaller companies are easy targets, due to limitations in their IT systems.
If you’re struggling to keep your business afloat, you can access proven strategies and expert support through the franchise model. Running an independent start-up is tough, but converting a business into a franchise unit is one way to gain security with a larger organisation.
Interested in running your own business? November is National Entrepreneurship Month, so we’re exploring the seven business basics everyone should master before they become their own boss. There’s no shame in feeling overwhelmed by the thought of starting a business.
Franchises offer fantastic benefits to entrepreneurs who want to set up their own business; they provide access to expert support and help minimise risk. But running a franchise unit comes with its share of complex financial procedures, so hiring an accountant is always a wise move.
Not sure if the franchise model is suited to you? Asking yourself ‘how do I know if franchising is right for me?’ Fear not - you’ve come to the right place. This helpful self-assessment will help you work out if becoming a franchisee is the best next step for your life and career.
The franchise agreement is one of the most important documents for an investor launching a business under an existing brand. It’s a key part of the franchising process, and a way for the franchisor to make sure standards are consistently high across the network.
Running a successful business? If you’re a keen entrepreneur, expansion plans are likely to be on your mind. Kicking off 2021 by creating a new business or setting up operations in a different location is an effective way to bring in more profit for your business - and your bank account.
It’s surprisingly common to feel nervous, anxious or out of your depth when running your own business. Becoming a successful entrepreneur involves a huge amount of self-belief and personal motivation, but with a bit of effort, you can get there.
Are you interested in becoming your own boss but apprehensive about getting started? We believe there’s no reason to delay your investment, because anyone can run a franchise business.
Multi-brand franchising describes the process of running two or more franchise units within different companies. For example, if you manage a McDonald’s restaurant and a Subway outlet, you’re a multi-brand franchisee.
As a franchisee, your business will go through four distinct stages during its franchise growth lifecycle. We’re breaking down each one and offering some handy hints and tips to help you successfully navigate them.
Brand consistency is a crucial element of any good franchise network. It’s one of the most important parts of buying into a franchise, as that customer recognition factor could help you get your business off the ground in record time. Here is why franchise brand consistency is so important.
Wondering which franchise model is right for you? We’ve analysed the pros and cons of three of the most common franchise styles so you can see which kind of opportunity is likely to suit your lifestyle and goals. Searching for the perfect franchise can be overwhelming.
We caught up with Alex and Paul Dodgshon, veteran franchisees and now board members of Business Partnership, to find out more about this exciting franchise opportunity. Here’s what they had to say about Covid-19, Brexit, and scouting out the perfect franchisees.
It’s easy to overlook the importance of soft skills when you’re busy running a business - but they play a key role in franchise success. Many people make the mistake of developing their skillset before interviews and disregarding them as soon as work builds up.
The franchise agreement is a legal document, and becoming a franchisee is as much about following regulations as it is about gaining access to a proven model and expert support.
What’s it like to run a franchise business? It’s the question on most prospective investors’ lips. The truth is, it’s likely to be a bit of a rollercoaster ride - at least in the first few months. Make sure you’re prepared for what’s to come with our guide to the ups and downs of franchising.
Franchisors and franchisees work closely together to build a connection based on trust and mutual respect; the success of the business relies on it. So, when disagreements occur, it can feel like a huge setback.
Owning a franchise is a dream for many entrepreneurs; you can take pride in running a business while relying on expert guidance. But what if it all goes wrong? By carefully and objectively evaluating the causes of your franchise failure, you can put yourself in a strong position to succeed.
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