Franchising gives investors the chance to set up a profitable business with a proven model, but the system involves a bit of preparation. We’ve rounded up some of the most important lessons franchisees have learnt after signing their franchise agreement, to help you get ready for investment.
Have you found yourself staring at a franchise agreement, scratching your head at all the legal business jargon? Here’s our guide to deciphering franchise contract legalese. Franchise agreements are legal documents, so they come with their fair share of jargon.
The franchise model provides a way to expand your business efficiently, with individual investors spending their money to develop additional branches under your branding. But, as in any system, those involved may come up against obstacles from time to time.
Multi-unit franchising is becoming increasingly popular, as investors take on the thrill of owning more than one franchise unit. The system comes with its challenges, but can also provide high earning potential for those who establish a successful business network.
There are several types of franchise agreements to cater for franchisors and franchisees with different ambitions. Here, we’re looking at area development contracts and how they’re used in the real world.
What is it really like to run a franchise business? The question has probably been on your mind if you’re considering the model. In this article, we’re uncovering the truth about franchising and exploring the things people don’t mention about running a franchise.
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.
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.
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.
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.
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 prospect of running a franchise unit can induce feelings of confusion, uncertainty and even inadequacy, but there are lots of books about franchising to help you through the process. Often, those who have made it right to the top of the franchise industry can offer insight and reassurance.
Thinking about running a franchise network? The benefits of franchising a business are clear to see; you can generate investment, access a greater customer pool and boost your brand awareness. But franchising isn’t right for everyone.
Franchise agreements often seem to be weighted in the franchisor’s favour, but franchisees have several key rights protecting them from unfair treatment after they invest their money.
The thought of taking maternity leave as a franchisee can be daunting; you may not know how to take time off without compromising the performance of your franchise unit. Or you might be worried about losing your edge as a business owner while spending months away from your desk.
The Prime Minister Boris Johnson has unveiled his much-anticipated ‘roadmap’ to ease restrictions across England. As more and more people receive vaccinations, businesses can start to make plans for reopening.
Brexit has prompted considerable uncertainty and concern for the business world, and many entrepreneurs are now facing challenges as they find their way through a changing economic environment. Here’s our guide to the impact of Brexit on franchising.
Are you coming to the end of your franchise agreement term? If you are - or if you’re just thinking ahead - it’s worth considering the franchise renewal process. Many investors are keen to know whether franchisors automatically renew their contracts and whether there are any franchise renewal fees.
If you’re considering becoming a franchisee, you may have found yourself wondering what the safest franchise option is: a big-name brand or a smaller, more niche franchise. The answer depends on your priorities.
When you start running your own business, you want to avoid potential problems if you can. Joining a franchise can help you mitigate against some of them - but is franchising risky as an investment venture? Let’s weigh up the pros and cons.
Collected data can be a great asset for a business, but keeping customer information safe should be a priority. Understanding how to take care of personal details and adhering to general data protection regulations helps franchisees build relationships based on trust and loyalty.
As a franchisee, you’re neither an employee nor a completely independent boss, which can have an effect on various aspects of your personal life. While working mums can generally have time off after the birth of their child, the situation is slightly different in the franchise world.
If you’re interested in launching or joining a franchise, you probably have a vague idea of the role of a franchisor and a franchisee. But failing to carry out all your responsibilities once you’ve signed on the dotted line could have disastrous consequences - both for you and the franchise.
Growing your business doesn’t have to be difficult if you’re part of a franchise; in fact, many franchisors help their investors set out an ongoing launch schedule from day one. If you’re wondering how to be a multi-unit franchisee in the UK, take a look at our eight top tips for success.
Your first year as a franchisee is likely to be very exciting and daunting in equal measure. It can be tricky to adjust as life to a franchisee, particularly if you’ve never spent time as your own boss. Here are some of the challenges you can expect to face, and our best tips for overcoming them.
A successful invoice ends a project on a high note, ensures timely payment, and potentially even secures future work. With our simple set of tips for successful invoicing, you’ll be hitting the mark every time in no time at all.
If you’re going to lead a network of franchisees to develop your brand, you’ll need to have a strong understanding of the definition of a franchisor. What is expected of a franchisor and what makes a good one? We answer these questions and more in this franchise guide.
Starting a franchise unit with a business partner isn’t for everyone. But those who do choose this route to entrepreneurship can share the investment cost, stresses and celebrations with someone else as they build their business. Here’s our guide to franchise partnerships.
The sugar tax was introduced back in 2018 to a mixed reception. Three years on, we explore how the levy has affected sweets franchises and other businesses with a focus on sugary food and drinks.
The franchise model is increasingly recognised as one of the most straightforward and secure ways to start a business. But for a franchise to be successful, the franchisor-franchisee relationship has to work well, so both parties get something out of the partnership.
Franchise agreements don’t last forever. So, anyone who enters into a contract as either a franchisor or a franchisee must understand their franchise renewal rights if they want to avoid unexpected problems later on. In this article, we run through the process of renewing a franchise contract.
A profitable franchise doesn’t just come into being overnight; for an investment opportunity to do well, it needs a dedicated, passionate entrepreneur leading the way. So, what makes a successful franchise owner? Let’s find out.
Here’s a common misconception: when a business owner chooses to become a franchisor, they collect investors’ money, hand over an operations manual and step back to watch their empire grow.
Payroll is an integral part of running your own business, and running it smoothly. Paying your employees correctly and on time is an absolute must, so if you have employees, you NEED a successful payroll processing system.
Whether you’re running a franchise or running your own business, the basics can be tougher than they seem. Figuring out how to setup a limited company can be an intimidating process, with many different technical terms to wade through, so we’ve put together a simple guide to help you through.
If you’re a self-employed person running your own business, you automatically become a sole trader. Some business owners and franchisees will choose to remain sole traders in the long term, while others will choose to set up a limited company or some other kind of legal enterprise.
Signing a franchise agreement is a big commitment, and a franchise contract renewal is a means you’re willing to do it all again. When things aren’t working out between you and your franchisee, knowing how to end a franchise contract gracefully is extremely important.
The world is constantly changing, and success will only be achieved through adaptation. The new faces of franchising are exciting, diverse and innovative, adding depth and value to the sector and helping units across the UK to keep up with the latest franchising trends.
A good infrastructure is imperative to building a successful franchise. Though this can be an intimidating prospect, once in place, you’ll find yourself in a solid position to achieve success. Here are some key franchisor tips on how to develop the right franchise infrastructure.
Point Franchise
