June 5, 2019
There are currently nearly 50,000 franchise businesses collectively contributing over £17bn and 710,000 jobs to the country’s economy, according to data from the British Franchise Association and NatWest.
If your business can be successfully franchised, you can establish a national (and possibly international) network of franchisees, all of who will be running identical versions of your business and generating income for you.
However, before you start spending time and money on creating and establishing your franchise network you should first ask yourself some fundamental questions:
Could my business be run by another person, with either suitable training or specific qualifications?
Is my business free from any geographical or seasonal limitations?
Is my business in a stable or growing market?
Have I “proved” my business model?
If the answer to all of the above questions is “yes”, then you have taken your first step towards establishing a successful franchise network.
There are many advantages to franchising over other types of business growth, including:
Lower capital requirement
Better performing outlets
Less management responsibility
However, like all routes to business expansion, franchising has its own unique set of risks and challenges. It is therefore important that, before you start committing funds to establishing a franchise network, you research the sector as thoroughly as possible and also take advice from experienced professionals.
I have worked with Darwin Gray for a number of years and the level of service, professionalism and timely response is second to none. I would highly recommend Darwin Gray to any business.”
Darwin Gray have provided us with a first-class service for many years now. They really take the time to understand our business and develop relationships which results in advice and support that is contextualised and effective.”
We have worked with Darwin Gray for several years and have always found their services and advice to be first class.”
An extremely professional and sincere company who make time for your queries and understand the need to break down certain facts and information to ensure everything is understood perfectly. I would highly recommend the company to anyone looking for any type of legal advice”
PSS has worked with Darwin Gray for many years. We have always received an excellent service. Prompt and professional advice and support.”
We have used several departments within DG recently and we have been very pleased with an effective, efficient and down to earth service. Very happy thus far and I expect that we will continue to use DG.”
Darwin Gray offer us truly superb services. Very professional, quick and services available bilingually which is very important to us, highly recommend.”
My “go to” in urgent and time sensitive cases for direction, support and advice. The team are quick to respond to calls or emails for advice and support on all matters. Always explain complex matters in a way a lay person can easily understand.”