What is a franchise?
What is a franchise?
The method by which the business succeeds will be written down in an operations manual and trade marks will be registered to protect the brand. This is the franchise system’s know-how or intellectual property. This becomes the determining formula as to how a market can be exploited and forms a business that is valuable for those who follow it energetically. Typically is it the difference between running a McDonald’s restaurant or a Joe’s burger joint. The brand of the franchise should have good public awareness, tried and tested support and systems in place, and consequently be more likely to succeed than a conventional business.
The franchising industry now brings over £10 billion into the UK economy and this has increased by double over the last 10 years. Indeed, the only conclusive franchise sector survey conducted annually by the BFA & NatWest Bank, show a dependable figure of around 90% of owners who are running franchised business on a self-employed basis remaining successful year after year.
Curious to find out more about franchising? Check the British Franchise Association website or browse one of the many franchise directories that can be found on the web or relevant franchise publications.
What is a franchise - To learn more about this author, visit Nick Strong's Website.
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Business format franchising in a nutshell is the documenting and replication of a proven business formula. In order to franchise a business it must not only be successful but have a good trading history under its belt.
The method by which the business succeeds will be written down in an operations manual and trade marks will be registered to protect the brand. This is the franchise system’s know-how or intellectual property. This becomes the determining formula as to how a market can be exploited and forms a business that is valuable for those who follow it energetically. Typically is it the difference between running a McDonald’s restaurant or a Joe’s burger joint. The brand of the franchise should have good public awareness, tried and tested support and systems in place, and consequently be more likely to succeed than a conventional business.
The franchising industry now brings over £10 billion into the UK economy and this has increased by double over the last 10 years. Indeed, the only conclusive franchise sector survey conducted annually by the BFA & NatWest Bank, show a dependable figure of around 90% of owners who are running franchised business on a self-employed basis remaining successful year after year.
Curious to find out more about franchising? Check the British Franchise Association website or browse one of the many franchise directories that can be found on the web or relevant franchise publications.
What is a franchise - To learn more about this author, visit Nick Strong's Website.
Like this article? Share it with your friends
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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John BrennanJohn Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan's Website |
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Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) In five years, Canadian-born entrepreneur Jay Kubassek went from selling mufflers at a Midas franchise to revolutionizing Internet marketing with the 2004 launch of CarbonCopyPRO, a online marketing education company, now worth over $20 million with customers in over 160 countries.
As an independent film producer, his upstart film fund Aliquot Films is currently producing a films with Spike Lee and Abel Fererra (starring Ethan Hawke and Dennis Hopper.)
Jay's entrepreneurial spirit is irrepressible. He’s the owner of five companies, a professional speaker and trainer, international real estate developer/investor, extreme sport enthusiast and emerging philanthropist. Jay resides in NYC with his wife Jamie, son Milo and dog Cooper. Visit Jay's official website: www.JayKubassek.com - Visit Jay Kubassek's Website |
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