Finding a franchise to suit your requirements is vital, not just to ensure your franchise investment is a wise decision but to ensure the franchise you choose suits your skill sets and achieves the motivations you have for running your own business.
Here at Approved Franchises we provide expert advice to help you select a franchise that is best suited for your needs. Here you can search for franchise companies and save time and money as you can compare a range of franchise companies all in one place. To use this FREE service that allows you to compare franchise companies, please enter your details in the form above, it takes less than a minute.
We have pre approved a range of franchise companies, which put the success of their franchisees at the forefront of their thinking. They offer:
Full training and support to new franchisees
A proven business model that can be replicated
Franchisees achieving the projected level of income
Ongoing assistance to help you achieve your goals
More and more individuals are turning to franchising as a way to start their own business and therefore here at Approved Franchises, we have made it our number one goal to connect you with the highest quality of franchises that best suit your requirements.
Let Approved Franchises connect you to the very best franchise opportunities currently available
There are good reasons for buying a UK franchise instead of starting your own business from scratch.
You have the ability to open a business which is already regionally or nationally recognised. You will be offering a product which is already in demand. The market you will be selling to will already know your company name.
You will have a company which has tried and true methods for making money. The formula created by the company has been implemented, refined, and tweaked to create the optimum business formula for success. They are perfect for someone who wants their own business that comes supplied with step by step instructions.
There could be substantial costs involved with buying a UK franchise . You are not just purchasing an outlet. You are purchasing the right to have an outlet. There is usually a fee involved for the right to use the company name.
This can be thousands of pounds or more and may not be refundable should you want to close the business later. You will want to determine whether you need to build the outlet to suit the owner company.
Other costs include inventory, licenses, and equipment. There are many available at low cost, and ones that suit your passion or personality, such as a pet franchise, so there will be one to suit everybody.
It is common for the recruit to pay a royalty fee. This means you will be paying a percentage of your weekly or monthly earnings. This fee is for the use of the brand name. Because an agreement was made at the time of purchase, you may have to honour the royalty payments for the term of the agreement should you choose to cancel the agreement.
Many times a company will charge an advertising fee to all the recruits. This helps to pay for national advertising campaigns. The campaigns could be to advertise for franchisees as well as promoting the chain itself. The campaign rarely focuses on one particular outlet.
When buying a franchise in the UK, you may have to have the approval of the company as to where you put your outlet. Some companies demand a certain look or design for the outlet for uniformity. This could cost serious cash if the corporation decides to update or make seasonal changes.
A franchise ownership means selling only what the company wants you to sell. Many restaurant franchises offer one set menu. There are no deviations allowed.
If it is a service type, you may be restricted to what services you can perform. For instance, a silencer type may not allow you to work on anything but silencers. This may limit the income you are used to getting.
There are certain aspects that you should investigate before you buy. The first thing to look at is competition. If there are many of the same type of franchises or businesses in the area, you may want to consider how much competition you can afford in order to be successful.
Speak with other UK franchise owners to determine what type of income their business is generating. You also want to know about the parent company. Ask about the training and support that was offered versus what was given. Find out if the company owner lived up to the contract obligations.
Find out how many hours you will need to put into it. Do you want a full time business or a part time flexible one.
There are times when a company will buy back a franchise which has failed. This outlet becomes a corporate store. If you are purchasing this type of outlet, the company must present the previous five years ownership for your inspection. Beware if there are numerous owners. This may be an indication the outlet is not in a good location for this type of business.
There are many ways to investigate a UK franchise before you buy. Asking the right questions to the right people should give you almost all the information you need to make a wise decision.