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- CALL 01483 273 478
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- CALL 01483 273 478
Menu
- CALL 01483 273 478
The franchise industry is booming, and for good reason. Franchising is a proven way of growing your business, whether you’re an existing franchisor or not. According to research by the British Franchise Association and the National Westminster Bank, franchising contributes £17.2 billion to the UK economy, which has increased more than 45% since 2008.
Failure rates for franchises are also very low, with recent statistics from the bfa showing less than 1% of franchises fail per year. This makes sense when you consider what you are buying into with a franchise; a proven system, an established brand, initial training and ongoing support, a protected geographical area and so forth. When you choose the right franchise, you have the opportunity to own a successful business at an affordable price and with viable returns which are based on real data.
You also get to be your own boss without all of the risks that come with starting a business from scratch, and you can work flexibly around your other commitments to balance your income goals and lifestyle in the way that suits you.
But which franchise is the best? And is there even such thing as ‘best’ at all?
The answer lies in your own goals and objectives, which should always be clear and established before you invest in a franchise. Look at industries that interest you and in which you have experience. Even if you don’t have the experience, you’ll likely be able to leverage your transferrable skills for success in your new field so interest in the business is of primary importance here.
At this point, you should ask yourself what your investment budget is. After all, some franchises can be bought into for just a few hundred pounds, whereas others will require more significant investment upfront. This links into the amount of time that you can and want to invest in your new business from the outset.
You will also need to think about your timescale for starting your own business – some businesses will take longer to set up than others, for example, those which require specialist training or government clearance will take longer to establish than those which are light touch in terms of niche skills.
Location, location, location! If the franchise you are interested in is already well-established, it’s likely a lot of their territories will already be occupied so it’s important to decide what your ideal operating location is and how far from that area you are prepared to go if there’s not a suitable available territory in your vicinity.
Most franchises run Discovery Sessions / Days so it’s worthwhile attending these, when available. Regardless of whether the franchisor is running Discovery Sessions / Days, you can always request more information and this will form a valuable part of your research. Create a structured list of questions to follow up with the franchisor on after you’ve digested the information pack and these answers will help guide your decision via clear information rather than gut feel.
The list of the best franchise brands in the UK changes constantly and the industry is growing fast. Some of the biggest, most popular and rapidly growing brands to look at include:
PGH Beegone Franchising Limited
Hivegrove
Kings Court, Burrows Ln
Gomshall, Guildford
Surrey, GU5 9QE
Tel: 01483 273 478
PGH Beegone Franchising Limited Registered in England no.13147543
