Not only will this investment be in terms of money, but also of your own time and commitment. Franchising, allows many people to start entirely new lives, realising new lifestyles and ambitions, but only when done well. Therefore making the right choices at the very start, about which franchise to join, if any, is paramount. This includes making sure you have done all the possible research on opportunities available, what they involve and the market they operate in. This is something that you should never try to cut corners on, but there is one key aspect that can give you a much higher level of confidence when going through this.

The British Franchise Association (bfa) is the not-for-profit voice of franchising in the UK. It operates to accredit and promote ethical franchising and therefore differentiate the good, from the bad and the ugly. For a franchisor to be a member of the bfa, they must pass a strict accreditation process, which looks at all aspects of the franchise operation to make sure it proven, protected, ethical, sustainable and free of ambiguity and misleading statements.

At the research stages of looking at franchise options, membership of the bfa is a guiding light to those who have chosen to put themselves forward against the bfa’s codes of business practice and have passed. It will never be a guarantee of success and you should never replace this accreditation with your own research, but the confidence that it can give you is invaluable.

As you are looking at companies that are member of the bfa you will see that not all of them have the same type of membership, so below explains the differences between them:

Full Members

Full Members of the bfa are established franchised businesses with a proven trading and franchising record. They are prepared to have their reputation examined by the bfa, and have an established network of franchisees.

Associate Members

Associate Members of the bfa have proven their ability to launch and support, at least one franchised outlet for 12 months and are now in the business of building their network. The franchisor will be investing in support and development. There will be few franchisees whose experience you can research and a short period of time over which the business has been tested but the business will have evidence of its ability to establish a solid network.

Provisional Listing

Provisionally Listed Companies are at the beginning of their development in franchising although the franchise may be at pilot stage. There is a real business up and running where end products and services are being sold successfully to consumers. The franchise agreement is sound, and by joining the bfa the company has committed itself to develop the business in accordance with bfa industry standards.

By understanding these different levels of membership and what the accreditation means, it will put you in a much more informed positions, but there are also some other key areas to consider. Even if the business is the best operated and most ethical company available, it doesn’t necessarily make it ideal for your situation. With hundreds of different brands, investment levels and business types, how can you know what you want? For those looking into franchising, here are just a few simple considerations:

Investment level: Levels of investment range from smaller amounts, that you may already have available, to larger amounts that you may need to take out a bank loan for. There are three major banks that the bfa accredits as specialists in understanding franchising and providing specific teams to work with franchise business loans.

Lifestyle: Franchising is not a hobby. You will need to make sure that you are happy with the commitments needed for this new business. You will also need to consider the support and understanding of those around you such as your family and friends.

Research: All franchise businesses are different, so do your homework. Speak to existing franchisees, make sure you understand all the business operations and ensure that you fully understand the investment costs.

Professional advice: There are a host of professional advisors accredited by the bfa that specialise in franchising, including consultants, accountants, solicitors, banks and even media. They are invaluable in making sure that you’re taking the right steps and don’t miss any vital information.

Time and again, franchising has greatly out-performed other start-up businesses. Its formula of a locally owned and run enterprise, driven by a small business owner, with branding, economies of scale and support from the wider network, gives the consumer the best of both worlds and the business a far better chance of success.

This robust business model, fuelled by dedicated individuals, encompassing many different skills and backgrounds, opens up countless opportunities for people looking for a new start. However, you need to put the work in upfront to ensure you are taking the right steps for you and you will be able to commit to the business in the long run.

Visit the bfa’s website at www.thebfa.org for objective advice and access to numerous educational and advisory resources.