e-Factor

Have you thought about franchising?

If you want to run your own business you can set something up from scratch or you can look at buying into an existing business concept through a franchise.

Franchising involves purchasing a business agreement with the owner of the business (Franchisor) that gives you the right to trade as and distribute the Franchisor's products or services for an agreed time period.

Many very successful businesses, including the likes of McDonalds, are actually run as franchises.

Why should I run a franchise?

As a franchisee you are still independent and able to run the business as the owner but as it is an established brand and business model, it has reduced risk.

The benefits of running a franchise include
• Potentially lower risk than setting up a stand alone business
• Often easier to raise finance for a franchise
• You don't have to come up with a new idea - someone else has had it and tested it, too!
• Larger, well-established franchise operations will often have national advertising campaigns and a solid trading  name that you can piggy back.
• Good franchisors will offer comprehensive training programmes in sales and business skills

How can e-factor help?

If you are interested in running a franchise, e-factor can help you with business planning, financial advice, assessing the viability of the franchise opportunity and even making contact with the franchisors.

If you have a successful business already have you considered franchising it as a means to growth? Again e-factor can advise you on the best way forward.

For more information on franchising

The British Franchise Association

The British Franchise Association is the voluntary self regulating governing body for franchising

www.thebfa.org