How Franchising can work for you
by Deborah Niven
Franchising is becoming an ever popular choice due to the recent downturn in the economy and the number of redundancies on the increase. It allows a person to start their own business and become their own boss, but with the weight of a well known brand and methodology behind them.
Some examples of franchises on offer range from domestic cleaning to photography. Merry Maids, the domestic cleaning franchise is in its thirtieth year and combines a tried and tested model with a business which is easily accessible for the majority of people. Little Angels is another option. It offers a photography business, primarily based on gaining work from children’s nurseries and schools. The franchisee is even offered training so photography skills are not required at the outset.
Exhibitions are held around the country where you can visit businesses offering a franchise and discuss how it works. The British Franchise Exhibition is one. Attending a show like this can give you the opportunity to have an initial look at what is on offer and is also the source of valuable advice and information.
It is key to ensure that you have the back up support you need such as accountancy and legal advice. The first step will be to ask a lawyer to review the franchise agreement as this will contain obligations and liabilities on you as the franchisee as well as the franchisor business.