Wanting to start your own business with a franchise? Discover the best and most profitable franchise opportunities in the UK and how to guides from Exciting Futures.
What is a Franchise?
An alternative route to owning your own business
The term ‘franchise’ defines a business structure whereby a franchisee pays royalty fees and a set up fee for the right to do business under a franchisor’s business name and operating systems. A franchisor will typically be a well-established brand with systems already in place to distribute products or services. Together the franchisor and the franchisee will sign a contract agreeing to this business practise. For a franchisee this is a great way to begin running and operating a business without having to set up an entirely new brand or start from scratch. Which is where the term ‘Business in a box’ comes from. At Exciting Futures, you will find out more about how to become a franchisee and about some of the latest franchise opportunities in the UK.
Why you should consider becoming a franchisee
There are a variety of reasons why someone would consider becoming a franchisee, as opposed to starting and owning their own brand. Here are some of the advantages of becoming a franchisee:
Less risk – No matter what, running a business is a big risk, as nothing is guaranteed. However, choosing to run a franchise is a far less risky option than starting your own business.
Existing customer base and brand recognition – for any new business, finding customers and marketing yourself in the right way to attract interest is hard work. One great benefit of becoming a franchisee is the guarantee of an existing customer base and brand recognition. Your task, as a franchisee, is to continue to gain the loyalty of this customer base.
Profits – In most cases, running a franchise will bring in greater profits since you have an existing customer base and brand recognition. For the most part the majority of franchises have recognisable brands, making far greater profits than a new and unknown brand.
Be your own boss – Becoming a franchisee Is the perfect way to be your own boss without the disadvantages and difficulties of the business start-up process.
Assistance from the Franchisor – You will be able to build and develop a relationship with the franchisor, who will then be a great resource to you. Offering their assistance and advice for running the franchise.
Finance Your Business
When you need to finance your new business venture, there are a wide number of options to choose from and they each work in different ways. From debt financing to equity financing and business loans there are numerous ways to fund a business startup.
Start Your Business
Learn how to start a business with our hand holding guides covering every aspect of business start ups. Turn your business ideas into start ups with potential to provide you with the company you’ve always wanted.
Business opportunities allow you the prospect of creating a successful business in a proven or untapped market. Some of the positives of running a business opportunity are they are less restrictive in terms of operation, branding and territory restrictions, their initial low investment fees and lack of ongoing fees.
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“The secret of getting ahead is getting started.” – Mark Twain
“Expect problems and eat them for breakfast.” – Alfred Montapert
“The harder the conflict, the more glorious the triumph.” – Thomas Paine
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