The Financial Management Centre is a Proud Member of the British Franchise Association Back
The British Franchise Association (BFA) was established in 1977 in order to help recognise the ‘good’ franchises from the ‘not-so-good’. Their aim was to represent ethical franchising based around a rigorous and detailed criteria, to ensure a fair relationship between franchisor and franchisee. The BFA is the only recognised association which represents the entire UK franchise industry, including franchisors, franchisees and the expert professional advisors. Membership provides a recognised and powerful voice within the franchise industry.
Why We Joined
In order to become BFA accredited, franchisors must put their franchise forward to be tested against their specific criteria. Membership provides a number of benefits, including credibility, networking, training, promotion and influence. Upon accreditation, members automatically gain eligibility for the national Franchisor or the Year Awards and Franchisee of the Year Awards, both of which allow for huge industry recognition and high-profile PR.
Essentially, it gives credibility to our brand and helps us attract the best possible franchisees, something which we deem incredibly important in the upkeep of our brand reputation. It allows for us to provide franchisees with a solid basis to build their business upon and take it from strength to strength.
What That Means For Franchisees
Aside from the benefits to the franchise itself, there are a number of benefits to the franchisee. Firstly, membership to the BFA will increase the chances of receiving funding from specialists banks as accreditation from the BFA is looked favourably upon.
Owning a franchise that is BFA accredited will also make it a lot easier for franchisees to sell their franchise, should they wish to. It acts as a safety blanket for potential buyers, as it recognises the franchise as reputable and ethically run.
Franchisees also benefit from the regular updates and bulletins that the BFA issue, keeping all members up-to-date on the latest news and changes within the franchising industry.
You can find more information on why to join a BFA member here.
To find out more about becoming a franchisee with TFMC, or to discuss any queries you may have, arrange a meeting with one of our team or schedule a call and make the first step towards the career of your dreams.