British Franchise Association- BFA – National Conference 2009
I attended the British Franchise Association – BFA – National Franchise conference last week. The event brought together around 150 franchisors and affiliate suppliers.
The Conference was titled Built to Last – creating stronger foundations for business to prosper. This conference was influenced by three key factors this year -
1. The recession and franchise businesses response
2. Honing the fundamentals of quality franchise business to help ensure long term success
3. One Vision – focusing on establishing the BFA’s structure for its future
Recruiting franchisees
There were a number of break out sessions during the conference. The first one I attended was focused on franchisee recruitment. Clearly the recession has had an effect on recruitment. Franchisors reported a slowing of lead flow over the first two quarters of 2009 compared to the same period in 2008. Many franchisors also indicated that banks are taking longer to agree and release funds for new franchisees. The result has been a slowing in the number and speed of recruitment.
Obtaining funds
In 2009 banks have made clear that all franchise buyer’s business plans must be bespoke. No standard ‘gap filled’ off the shelf busienss plans will be accepted. This is especially so when it comes to local market research. The would be franchisee must demonstrate a knowledge of the franchise, the market and the local competition in their business plan. The findings of the franchise buyer’s report must be reflected in the projected earning predictions included in the plan. Banks are clearly being banks now. They require assurance before lending. Franchisors need to put increased focus in supporting franchise buyers in business plan development before approaching banks for borrowings.
Integrating new technology
I chaired this break out session. The speaker was Alan Fairclough of Driver Hire. Alan explained at length and detail how Driver Hire has used bespoke software, hosted remotely to improve the flow and quality of management information though the network. The outcome for Driver Hire and its franchisees was faster service and invoice times. The result of this system is a franchisor who is in control of their network, franchisees who are well supported and fast action times in all aspects of business from job processing the invoice generation and collection of payments.
One Vision
The British Franchise Association’s – BFA – one vision document was discussed at length. The vision is being slowly developed via working commissions. The commission’s job is to fine tune how the vision, and those it includes, will be managed in the future. The BFA’s goal is to be the recognised authority on all matters franchising.
At the present time there is no franchisee representation withing the BFA. One key goal of the One Vision proposal is to give franchisees representation in the BFA. This may include membership and board level representation. How this will be implemented is currently being explored by the commission.
Franchise Awards
On Thursday evening of the conference the franchise awards were held. The Brand Builder Award was won by Green Thumb. The Award for Enterprise was won by Home Instead and the British Franchise Association – BFA – Franchisor of the Year award was taken by Countrywide Ground Maintenance. Congratulations to all who were nominated and that won.
Tags: BFA, British Franchise Association, economy, finance, franchise, franchisse awards, funds, integrating technology, nick strong, one vision
June 22nd, 2009 at 1:30 pm
A friend of mine just emailed me one of your articles from a while back. I read that one a few more. Really enjoy your blog. Thanks
June 23rd, 2009 at 7:57 am
Thanks Sue, I appreciate your interest. Nick
July 5th, 2009 at 5:13 am
Great post!