FRANCHISING has produced many success stories and been proven to be more successful than other business start-ups, but it is still vital to carry out as much research as possible before entering into a franchise agreement.
Available resources include websites, newspapers and magazines, British Franchise Association (bfa) seminars, and franchise exhibitions, and if you plan to start with the latter then you should make the forthcoming British & International Franchise Exhibition your first port of call.
The exhibition at Olympia in London on March 21 and 22 will showcase a wide selection of franchise opportunities and offer visitors a chance to meet some of the leading franchised companies to learn more about the benefits and rewards of running their own business as part of an established franchise brand.
The exhibitors include well established business concepts from a range of industries, such as health and fitness, motoring, recruitment, computing and children’s services.
In addition, there will be experts from the British Franchise Association (bfa), banks, accountants and solicitors to advise on the practical issues of franchising.
Tom Endean, marketing manager at the bfa, said: “A franchise exhibition is an ideal place to meet a large number of industry professionals, hear from expert speakers and gain free information all under one roof.
Even if you are at the very early stages and just want to gain a little more insight, they can provide a very time effective way to consider franchising.
“Of course, not all franchise brands and franchise experts will be there, but those attending provide a very strong representation of the industry. This is particularly true if you want to learn more and are not yet in a position to follow up on a certain brand,” he added.
Exhibitors will only be bfa members, who have to pass stringent checks on their businesses, or franchises that have specifically been vetted by the bfa for exhibition purposes.
The British & International Franchise Exhibition in London is one of only four major exhibitions in the UK accredited by the bfa, whose representatives will also be running free educational seminars throughout the event.
The bfa’s advice to visitors is to speak to as many people as possible; including the banks to learn more about finance options, and the solicitors to find out about the legal issues, and to talk to the franchisor exhibitors to get a better idea of the different structures available, costs, support and regions.
Mr Endean added: “A key thing to remember is not to visit an exhibition expecting to ‘buy’ a franchise on the day. The process takes time and involves a recruitment procedure. You should approach the exhibition as a learning opportunity; a chance to strengthen your understanding of franchising, which ultimately could transform your future.”
For more information on franchising visit www.thebfa.org