Posted on: 30 January 2015
The British Franchise Association (BFA) was formed in the UK to assess and accredit franchise companies as reputable and responsible. Joining the BFA as a franchisor or a professional advisor in the industry involves being tested against strict and extensive criteria.
So choosing the right franchise business to join should start with making sure that the businesses you’re considering are members of the BFA.
Next it’s important to find the businesses that suit you personally. Does the sector they operate in match your experience and interests? Does the territory that’s available make sense for your commute and would it fit around the rest of your commitments? Do you have enough money to make the most of the franchise opportunity on offer?
Finally, and potentially most importantly, choosing the right franchise business comes down to the experience and personality of the franchise owner. Most franchise agreements last longer than five years, so you’d need to be absolutely satisfied that they have the credentials and the two of you would get on.
“At the end of the day, when you buy a franchise you are entering into a business partnership with the franchise owner,” says Sarah Carlile.
Use the content guide below to answer your franchising questions:
- What are the advantages and disadvantages of franchising?
- Does my business suit the business model?
- What do I need to consider when setting up the franchise?
- What are my options for funding a franchise?
- How do I recruit the right franchisees?
- What are the advantages and disadvantages for the franchisee?
- Will I suit the franchise model?
- Where do I find franchise opportunities?
- How do I choose the right franchise business? (You are here)
- What questions should I ask before buying?
- How can I finance becoming a franchisee?
- How do I make my franchise successful?
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The information and tools contained in this guide are of a general informational nature and should not be relied upon as being suitable for any specific set of circumstances. We have used reasonable endeavours to ensure the accuracy and completeness of the contents but the information and tools do not constitute professional advice and must not be relied upon as such. To the extent permitted by law, we do not accept responsibility for any loss which may arise from reliance on the information or tools in our Insight Hub.