Welcome to the world of franchising! You may have questions…

If you are attending one of The Franchise Exhibitions for the first time, we hope you have a great time and come away inspired for your franchising journey that lies ahead.

Allow us to introduce ourselves, we are the British Franchise Association (BFA), the hub of franchising in the UK. Our strapline is ‘Discover Your Tomorrow’ and we very much hope this is the start of something exciting for you. We have a stand at the exhibition where our team will be on hand to answer any questions you have about franchising.

At the exhibition you will have the opportunity to meet with over 100 franchise brands, across a wide range of sectors, but what are the most important questions to ask? Here are a few we’d suggest as a starting point.

1. What exactly does being a franchisee with your brand entail? For instance, could you take me through a typical day as a franchisee?
2. What does your initial training look like?
3. Once I’ve done my training, how much support will I receive in the first few months? Will one of your team come and help me launch my business? What about follow-up support in the early days, what does that look like?
4. How much support will I receive beyond the first three to six months and what does it look like?
5. What kind of software do you offer to help me run my business? For instance, CRM software? Accounting/invoicing packages?
6. How much is the MSF (Management Service Fee) that I must pay you each month? When does that start?
7. What other fees should I consider each month on top of the MSF?
8. If I attend a Discovery Day, can I also spend a day with an existing franchisee to really get a feel for the job?
9. How much do your best- and worst-performing franchisees (with one territory) turnover a year?
10. How many new franchisees have you taken on in the last 24 months? How many have you lost and why did they leave?
11. Could you supply contact details for your franchise network – and may I get in touch with all of them?

These are just a few questions that we are confident will help in the research stages of your franchising journey, with the final question being probably the most important. It’s crucial that you speak to a wide range of franchisees when researching a potential investment and not just the ones the franchisor puts in front of you; if there’s something you should know, an existing franchisee is well placed to give you realistic insights.

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