There are several factors to consider before taking the plunge into the franchise world. For instance, do you have the financial resources needed to fund the start up, pay the franchise fees, get the business up and running, and support yourself until you have a sustainable income? And with the thousands of franchise opportunities available, how do you know which one is right for you?
Franchising is a good way of starting and running your own business and the statistics suggest very high success rates - providing you choose a good franchise opportunity in the first place.
Choosing a franchise wisely offers you a proven business format, working under the brand established by your franchisor and often using business systems that exist and are proven in the marketplace.
After paying an initial fee to set up, further fees as often required for ongoing support, so that you can operate and build, to the point where you have a capital asset that you can sell. However, many franchisees do not have easy access to a trusted support network in terms of financial, legal, sales, marketing and practical business help. This is where The Fabulous Group can really make a difference to your franchise.
Joining a franchise has created new lifestyles for thousands of people, but you need to know if franchising is right for you and you are right for franchising. You also need to consider the options available.
The following statistics, from the bfa/NatWest Franchise Survey 2015, show the health of UK franchising:
This has grown from an industry that 20 years ago had a turnover of just over £5 billion, had 379 different brands and represented 18,300 franchisee outlets. To find out how The Fabulous Group can provide support to your franchise, please contact us either by email, phone or via our Enquiry Form