Franchising

If you have a successful business which revolves around a strong business model, but which you want to grow quickly, then franchising your business to others may be the perfect solution.

Franchising is a method of starting a business which minimises risk by replicating a “business formula” which has been proven to be successful. This basically means that the company wishing to franchise puts together a complete business package, including a brand, business model and a detailed method of carrying on the business. This “format” is then licensed to the franchisees. They run their own businesses, but use the already established methods and trading name. The statistics bear out that franchising remains very popular in the UK, not least because the failure rate among franchise businesses is under 10%, compared to some 80% for non-franchised businesses. The reason for this is simple enough: it is easier to replicate success than to re-invent it each time.