Select Your Franchise - Information on UK Franchises and Directory of Franchise Opportunities

Why over 90 percent of UK-based franchise businesses are profitable

July 27th, 2015 by Guest Contributor in Franchise Sales and Development in the UK
 

money-18554_640Setting up a business is exciting but for even the most adventurous entrepreneur the thrill is usually matched by an equal amount of anxiety. In a competitive and cut-throat commercial world the potential rewards may be plenty but so are the risks. One prudent and practical way of de-risking your new startup is to adopt a tried and tested business model using a franchise approach.

Over 90 percent of UK-based franchise businesses are profitable – an enviable statistic. Here are the top five reasons why:

  • 06102014 2 bullet spotom no bg Having access to an established market and market share gives franchisees a significant head start over other new businesses. Sales can start straight away with no lead in time for product development or market testing, meaning a healthy cash flow to build on.
  • 06102014 2 bullet spotom no bg Being in the right location is central to the success story of many businesses across the country, but making the decision about where to locate is a science in itself. Franchisees can avoid the guesswork on this crucial issue because well established franchises already know where the best locations are. They invest heavily in pinpointing where businesses should be sited. For retail and food outlets this is all about footfall and traffic. For businesses where visibility is less important they will identify sites which are most cost efficient. This all contributes to a healthy bottom line – the ideal scenario for any business owner.
  • 06102014 2 bullet spotom no bg Most franchisors provide comprehensive support packages including training, legal advice, business manuals and ongoing access to a regional management structure. New franchisees can achieve significant profit because the business is being run well from the get-go.
  • 06102014 2 bullet spotom no bg Customers love brands and with a franchise you buy into that brand and all that goes with it. Centralised marketing campaigns, product promotions and recognition by the target market as well as investors are just some of the immediate benefits. Launch events are well publicised, ensuring customers come flooding in from day one.
  • 06102014 2 bullet spotom no bg Economies of scale achievable in a franchise model can make a major difference to profitability both in the early days and as the business develops. Buying into centralised purchasing of stock, supplies as well as access to group arrangements for cover and legal advice saves time, money and inconvenience allowing the franchisee to focus on running the business.

Article from Gemma Staines

Share
0 Comments  |  Read More 

 

Retail franchising and what to consider

May 5th, 2015 by Maria Santos in Franchise Industry News
 

Have you always been curious about the retail franchising industry? Select Your Franchise recently interviewed Kyle Whittle National Business Development Manager UK at Mobalpa, a big franchise renowned for their design, manufacture and distribution of kitchens, bathrooms and living solutions.

The interview was broadcasted online within Select Your Franchise’s Hangout On Air programme about franchising. Once again, the event was hosted by our Managing Director Nick Strong.

Did you find this video interesting? We have more on our YouTube channel! You can also add Select Your Franchise to your circles on Google+ and we will notify you about future events.

Our Hangouts On Air happen on Tuesday, at 12.30. Share your questions about franchising on Twitter and Google+ using the hashtag #FranchiseQuestion before, during or after the event.

Share
Comments Off  |  Read More 

 

Developing an educational franchise for children – Do you have what it takes?

April 17th, 2015 by Maria Santos in Franchise Industry News
 

Select Your Franchise’s most recent Hangout On Air programme about franchising was all about educational franchises for children. The guest was Colin Bradford, Managing Director of Magical Maths, who shared expert advice about this specific and complex type of business.

The event, broadcasted on 7th April, was hosted by Select Your Franchise’s Managing Director Nick Strong.

Did you find this video interesting? We have more on our YouTube channel! You can also add Select Your Franchise to your circles on Google+ and we will notify you about future events.

Our Hangouts On Air happen on Tuesday 21st April, at 12.30. Share your questions about franchising on Twitter and Google+ using the hashtag #FranchiseQuestion. You can join the event for free using this link.

Share
Comments Off  |  Read More 

 

« Older Entries