Franchising is a cost efficient method of multiplying a successful business. Many business formats can be expanded through franchising both domestically and internationally.
If you take a plane, use a recruitment agency, rent a car, visit an estate agent or eat a hamburger or even get your oven cleaned! – you will probably be using a national or multinational business that is owned and operated by a franchisee. It is estimated that there are over 800 different franchise offers although not all of these may follow the business format template. Franchising in the UK alone now employs over 450,000 people generating sales in excess of £11 billion.
Franchise Format can work with you to structure your business into a shape that can be multiplied using tried and tested methods taking all the essential ingredients that make your business successful now;
- Marketing Essentials
- Legal Essentials
- Financial Essentials
- System Essentials
and use them to build a much bigger capital asset.
Franchising exists across a broad spectrum of business today and whatever the type of business there are two common denominators: the desire of a business owner to grow, develop and create a brand (the Franchisor) and the fervent desire of individuals to work for themselves. Franchising for both the Franchisor and Franchisee is recognized as a lower financial risk. As a result Franchising has become an extremely cost effective method for the mass distribution of a wide range of products and service. It has won acceptance and success because it offers a manufacturer, retailer or service business a means of achieving wide distribution and market penetration at a relatively low cost, while retaining control over the standard of service or products. It is widely believed a franchisee would commonly increase sales by 25%-40% over a managed location. It’s achieved by systemising each aspect of a business, administration, marketing, distribution, legal etc., so that the business format can be multiplied quickly efficiently and at the lowest cost.