What is a franchise?

Guest post by: Nick Strong
Become an Author

Free PDF Download
A change of direction with a Franchise Business - By Nick Strong

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.

Franchising with all its Success

About 60% of all franchise opportunities have less than 50 units.

Touchables and Untouchables

Why Use a Franchise Consultant?

Did you know: NIIT Franchise was present in Malaysia in 1997?

Determining the Initial Franchise Fee

Franchise Manual is designed to help new franchisees understand how to operated the franchise business

How to Start A Franchise

Master Franchises Explained

Reselling Your Franchise

Buying a franchise during recession

The best franchise systems all have effective leadership.

Mathnasium Franchise FAQs

Hiring a Franchise Lawyer

Question Your Franchise Decision Making

Why Own a Blimpie?

Franchising - The Sweet Smell of Success!

Why Franchises are Good Investments

Blimpie Franchise Requirements

Finding a Franchise Online

Home > Franchises > Nick Strong > What is a franchise > Google +

Free PDF Download
A change of direction with a Franchise Business - By Nick Strong

About the Author: Nick Strong

RSS for Nick's articles - Visit Nick's website
Nick Strong launched Select Your Franchise in October 2002. The site features an extensive franchise directory of business opportunities and advertises over 100 franchise brands in the UK. Nick has over ten years of experience in domestic and overseas franchise development. Nick is the Managing Director of Select Your Franchise UK Ltd, The Franchise Supplier Showcase and FranWeb Ltd. Nick also specialises in franchisee recruitment and business development training. To find out more about Nick at latest franchise news please check out our franchise blog.
Click here to visit Nick's website.

More from Nick Strong
Deciding if a Franchise is Right for You
Export your franchise to Australia
Beat the Recession with a Retail Franchise
Franchise development in 2009
Ways to Find Local Franchises

Share this article. Fund someone's dream.

Share this post and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

What is a franchise?

Related Articles

Related Forum Posts

Share this article. Fund someone's dream.


Name:
Email: