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Franchise My Business UK

Written by: Nick Strong

Article Overview: You have a successful business and wonder how to expand it and make the most of your winning idea and business model. This article looks at if franchise might be a viable way forward to expand and grow your business and the basic steps to go about franchising your business.

Franchise My Business UK

Alot of successful business owners around the UK are looking for proven ways to expand their businesses and are asking, “How can I franchise my business”?

Why would you want to franchise your business? There are a number options to grow a business. A word of warning though, business growth is often not simple especially when you are establishing new offices miles from your head office.

Retaining control of the system and brand becomes troublesome. Expensive area managers have to be hired. Offices rented, installation of telecom systems... The costs goes on and on. This puts pressure on the central business and can cause threat to the business as a entity.

Franchising offers a way of growing your enterprise with the assistance and venture capital of new business partners. When asking the question, how can I convert my business into a franchise business, there are a good few steps to consider.

1. Document everything you do day-to-day that makes your business a success story. This is called your intellectual property and is the most valuable document that you own as a franchisor. This document should be protected as it is the know-how of your business success. It is this property that a franchisee would invest his or her money in, as as they follow your proven system they can succeed in the same way as you have.
2. Have your logo and branding trademarked. It is essential that your distinct mark/logo design is protected and registered in the proper way. Both you and your franchisees will find benefit from a protected trade mark and will also give your customers security.
3. Get your legals in order. Its wise to speak to an accredited British Franchise Association lawyer about your franchise contract. A legal contract is necessary to make sure you and your franchisees know where they stand.
4. Before going to market, be sure to speak to a British Franchise Association Consultant first. They can help you steer clear of expensive errors and ensure the route to setting up your franchise business runs smoothly.
5. Start your Development and Marketing Plans. This will include a range of budgets and actions such as: Franchisee recruitment, Staffing, Legal, Banking, Capital management

Franchising an existing venture can seem to be an attractive option. Take positive action and take time to think about franchising carefully. It could transform your business.

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Article Tags: area managers, british franchise association, business growth, business success, central business, distinct mark, franchise business, franchise contract, franchisee, franchisees, franchisor, legal contract, legals, li li, logo design, new business partners, number options, proven system, successful business, telecom systems



Related Forum Posts
Re: Enticing Franchises - Top 9 List - All Franchise listed above are in millions of dollars. Do you have the list of Franchise in thousands
Re: Info for would be franchisers... - [quote="Sebastien":1d29sdv1]Like Franchise Times, Franchise Update is a very practical magazine. There is no blah blah, just straight facts that anyone in the franchise community can relate to. I just want to mention that all these magazines are NOT franchisee oriented. I mean these magazines are for franchise professionals. If you're looking to buy a franchise, you won't find much information in there. To answer your question, getting published in Franchise Times was fairly easy. I don't want to brag too much but I think I am known in the franchise industry. I was the marketing guy at Franchise.com for a few years before joining my new company, the World Franchising Network. So people know me and I have a very good relationship with Nancy Weingartner, the Managing Editor at Franchise Times. I was talking with her at the last Franchise Expo South in Miami and she mentioned she'd like me to be profiled. I was like "ok, sure!". I like this franchise executive profile thing in Franchise Times as it is rarely BS. People are usually really natural in there.[/quote:1d29sdv1] Thanks for the follow up Sebastien! And I can't say that I'm surprised that networking with the right people and managing your relationships with them properly are the keys to being published. I guess the old adage holds true of "it's not who you know, but who knows you" that's important.
how much for a franchise fee? - Dear Colleague There is no easy answer to this question. Things to consider: [list=] The sizeof the Franchise Clent base Expected Turnover Intellectual Property costs (recoup) Number of Franchises Number of employees Original Set up costs Franchise admin costs An example: A franchise that I was involved in setting was to a simple "lawn mowing/home repair" franchise. The Franchise included national/local advertising - preparation of client lists - general admin - central accounting etc The Franchise involved 300-500 clients - and an annual turnover of about $300,000 . The annual franchise fee was $30,000. Hope that this gives you some idea Take care Ian[/list]
Fed rate cuts . . . - So just what do the newest Fed rate cuts mean to Franchise and Business Opportunity investing? Is it immediately felt? What timeframe do you think, or rather, where are we in terms of new vs. existing business investment? A similar question can be composed for the economic stimulus checks - will they a have any effect if consumers spend a little $$
Re: Hello EvanCarmichaelers, and Thanks! - "Carmichaelers" ..nice.. Over at the Young Entrepreneurs I'm going to start calling my readers "DSilvelers" - I like the sound of that! Welcome on board theFranchiseMarket. Do you run a Franchise Business or are involved in Franchising in anyway?


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