What is a franchise?
The British Franchise Association defines franchising as the following:
"Business format franchising is the granting of a license by one person (the franchisor) to another (the franchisee), which entitles the franchisee to trade under the trade mark/trade name of the franchisor and to make use of an entire package, comprising all the elements necessary to establish a previously untrained person in the business and to run it with continual assistance, on a predetermined basis."
Some facts about franchising:
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There are 845 franchise systems in the UK.
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There are an estimated 465,000 people employed in franchising.
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89% of franchisees claim to be profitable.
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The average turnover for franchised businesses is £335,000.
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The estimated annual turnover of the business format franchise sector is £11.8 billion (£11.4bn in 2008).
(Source: 2010 NatWest/British Franchising Association Survey)
Many companies operate on a franchise model, including Subway, Marks and Spencer, Dominos Pizza, O2, Scottish and Newcastle, Thresher and many others.
What about The Financial Management Centre franchise?
Why shouldn’t I just set up on my own?
- Business success. Our franchised business will give you an increased chance of success. You will be operating our proven and tested business model.
- Mistakes cost money. When you setup in business there are limited funds available, can you afford to make mistakes? Our experience ensures you don’t need to worry about this.
- Growth. We have proven methods to acquire and retain clients. Marketing is more than advertising. This is something we are extremely successful at doing and you will benefit from this when joining the franchise.
- Access to national accounts. We have relationships with many national organisations that refer business to our franchisees.
- Attracting the best people. Any service business is only as good as the people it employs.
- Holiday or sick leave. Who will cover your clients when you are on holiday or ill? We provide all our franchisees with cover and this helps ensure client retention.
I’m already running a good business, so what’s in it for me?
Your business may benefit from coming under the banner and business model of The Financial Management Centre.
Your business may benefit from coming under the banner and business model of The Financial Management Centre.
- Annual gross sales. This could increase from £70,000 to £100,000+ after three years.
- National brand. You would benefit from being part of the UK’s first, and only, national brand of financial management professionals.
- Ongoing support. We provide you with strong marketing, sales and business support.
- Protect your existing business. We are growing substantially. At some point the vast majority of small- to medium-sized businesses will come into contact with our brand.
