There’s no denying it: franchising is on the rise. With every year, the billion-pound industry continues to balloon.
However, many would-be franchisees stay away from the industry due to feasibility concerns or dreams of entrepreneurship. Where can somebody even find franchise opportunities?
This article will dispel doubts and show just how simple and accessible franchising can be. You can find your perfect franchise by exploring our franchises, meeting franchisors, and attending franchise conferences.
What is Franchising
First things first, what exactly is franchising? Believe it or not, this question is a roadblock to many.
In truth, franchising is simple. When a potential buyer (a franchisee) aims to invest in a franchise, they negotiate with the franchise owner (the franchisor). Once they sign the franchise agreement and pay the franchise fee, the franchisee will be granted the right to use the company’s branding, logo, and other intellectual property (IP). If you buy a McDonald’s, you’ll have to adhere to the branding.
From here, the franchisor will help guide the franchisee through the process. They’ll provide training for the franchisee and aid in hiring and training.
While entrepreneurship may seem appealing, franchising provides business support, a customer base, and an established, reliable brand. You can’t get much better than that.
What are the Top Franchises?
When you think of franchising, you likely think of the biggest, most popular brands.
Across the UK, McDonald’s, Auto Smart, Domino’s, and Pizza Hut are the most profitable franchises. However, as a first-time franchisee, you likely won’t be able to break into these businesses. Top franchises typically hold rigorous application processes and staggering franchise costs.
Don’t be discouraged. You’ll find several franchise opportunities across the UK, with low prices and great possibilities.
Best Franchise Opportunities UK
Even if we’ve sold you on franchising, you’re likely wondering: where can I find franchise opportunities?
The process sounds complex as we don’t spend our day-to-day lives meeting with franchisors. That said, the franchise business relies on franchisees– they’re looking for people to help boost their brand.
Finding business opportunities has never been easier. Let’s explore the best ways to find franchises.
Determine Your Goals
Before you search, you must know your goals. With thousands of potential franchises, it’s easy to get bogged down.
Consider what makes you passionate. When you buy a franchise, you’ll be the most integral part of the success. Invest in a company that fulfils you. For instance, at-home care franchises provide meaningful support across the UK and a robust business model. Or perhaps you just like food! A fast-food franchise may keep you happy!
Consider the Most Profitable Industries
You can’t deny the market trends. At the moment, the most popular franchises types are the following:
Do any of these call your name? Great! Continue to look at them and see which specific franchises speak to you. If they don’t, that’s okay. You can still find great options with plenty of financial upsides.
Explore Franchise Local’s Directory
At Franchise Local, we pride ourselves on having the top franchises. Explore our site for a comprehensive franchise directory of the UK.
We offer 39 industries, from Pets to Home Services. With a bit of perusing, we’re sure you’ll find a franchise worth your passion. If you’re on a budget, you’re still in luck. Many franchises offer low-cost investments. Explore our budget options for a look at affordable franchises.
Attend the International Franchise Show
The International Franchise Show is a free event where potential franchisees can meet with franchise owners. This conference will cover the fundamentals of franchising, with panels, workshops, exhibitors, and even networking zones.
Even if you don’t have a franchise you’re interested in, this event will help educate and guide you.
Reach Out to Franchisors
Once you’ve located a franchise you’re interested in, reach out to the franchisor.
Remember, as much as they’ll analyse you; you should analyse them. There’s no use aligning with a company you disagree with. Ensure you align with their franchise model and share similar interests and values.
If you get this far and still line up, congratulations, you met your match! Allow a little time to make sure you feel comfortable, and dive in! We’re sure you’ll see the payoff in no time.
Start Your Franchise Today
Franchising isn’t as complicated as many think. Investing in a company will protect you from many risks associated with entrepreneurship. A great franchise will provide you with an established brand and customer base.
While top franchises like Costa Coffee and Domino’s may be out of reach for first-time franchise owners, many franchise oppportunities exist. By exploring our site, attending franchise conventions, and meeting with franchisors, you can find the best in the business.
No matter your experience level, staying educated is a good idea. Our blog will keep you up-to-date with all you need to know, from 2023’s hottest franchises to how to boost your real estate franchise. For an excellent overview, check out our Ultimate Guide to Franchising. Our tips and tricks will keep you on your feet.
If you want to open a franchise in the UK, stay optimistic. You’ll be sure to find the perfect opportunity in no time.