{"id":10215,"date":"2021-07-20T14:58:40","date_gmt":"2021-07-20T13:58:40","guid":{"rendered":"https:\/\/www.franchiselocal.co.uk\/news\/?p=10215"},"modified":"2022-01-27T11:05:21","modified_gmt":"2022-01-27T11:05:21","slug":"7-ways-to-find-the-perfect-franchise-for-you","status":"publish","type":"post","link":"https:\/\/www.franchiselocal.co.uk\/news\/7-ways-to-find-the-perfect-franchise-for-you\/","title":{"rendered":"7 Ways To Find The Perfect Franchise For You"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_88 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #101010;color:#101010\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #101010;color:#101010\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www.franchiselocal.co.uk\/news\/7-ways-to-find-the-perfect-franchise-for-you\/#1-the-perfect-match\" >1. The Perfect Match<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www.franchiselocal.co.uk\/news\/7-ways-to-find-the-perfect-franchise-for-you\/#2-on-the-right-path\" >2. On The Right Path<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www.franchiselocal.co.uk\/news\/7-ways-to-find-the-perfect-franchise-for-you\/#3-money-matters\" >3. Money Matters<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www.franchiselocal.co.uk\/news\/7-ways-to-find-the-perfect-franchise-for-you\/#4-making-connections\" >4. Making Connections<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www.franchiselocal.co.uk\/news\/7-ways-to-find-the-perfect-franchise-for-you\/#5-touching-base\" >5. Touching Base<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www.franchiselocal.co.uk\/news\/7-ways-to-find-the-perfect-franchise-for-you\/#6-getting-social\" >6. Getting Social<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"#\" data-href=\"https:\/\/www.franchiselocal.co.uk\/news\/7-ways-to-find-the-perfect-franchise-for-you\/#7-signing-on-the-dotted-line\" >7. Signing On The Dotted Line<\/a><\/li><\/ul><\/nav><\/div>\n<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 3<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span><p>In the past year and a half, the UK has seen many changes, some of which will be reversed as restrictions are lifted &#8211; and others that are here to stay.<\/p>\n<p>Having been <a href=\"https:\/\/www.franchiselocal.co.uk\/home-based-franchise\/\">working from home<\/a> for over a year and enjoying the improved work\/life balance that this offers, many Brits have found themselves re-evaluating their lives. For a significant number of these people, this means leaving the nine to five employment behind to strike up their own business through <a href=\"https:\/\/www.franchiselocal.co.uk\/news\/franchise-meaning-in-business\/\">franchising<\/a>.<\/p>\n<h4>A new kind of freedom day for employees<\/h4>\n<p><a href=\"https:\/\/www.franchiselocal.co.uk\/franchising\/\">Franchising<\/a> allows people to tap into an established business by buying a branch of that business for themselves.<\/p>\n<p>Becoming a franchisee usually involves stumping up an initial fee to secure the business and then, once you start making money, <a href=\"https:\/\/www.franchiselocal.co.uk\/news\/franchise-royalty-fees\/\">paying a percentage<\/a> of your takings to the franchisor.<\/p>\n<p>Becoming a franchisee can be incredibly rewarding and, if you work hard, it can also be extremely lucrative. It also carries far less risk than launching your own business from the ground up.<\/p>\n<p>As with any other kind of business, franchises come in all <a href=\"https:\/\/www.franchiselocal.co.uk\/news\/what-are-the-best-franchises-to-open-in-2021\/\">shapes and sizes<\/a> and, for those looking for their first <a href=\"https:\/\/www.franchiselocal.co.uk\/franchise-opportunities-uk\/\">franchise opportunity<\/a>, the choice can be a little daunting.<\/p>\n<p>In this article, we\u2019ll take you through seven different ways of finding the perfect franchise for you:<\/p>\n<h3><span class=\"ez-toc-section\" id=\"1-the-perfect-match\"><\/span>1. The Perfect Match<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Although most franchisors will provide some training and lots of guidelines for running your business, it\u2019s important to try to match up your new business with your existing skills and experience.<\/p>\n<p>Before <a href=\"https:\/\/www.franchiselocal.co.uk\/\">starting your search<\/a> for a franchise business, consider your skills and strengths as well as the things that you are passionate about as this will help you to find a business that you enjoy and in which you have a good chance of success.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"2-on-the-right-path\"><\/span>2. On The Right Path<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Your next step is to think about the kind of industry your new business should be in, such as fast food, car hire, coffee or home care, etc.<\/p>\n<p>When choosing an <a href=\"https:\/\/www.franchiselocal.co.uk\/industries\/\">industry<\/a>, you\u2019ll want to consider the following:<\/p>\n<ul>\n<li>Your experience in a particular industry<\/li>\n<li>Industry demand in your area<\/li>\n<li>Longevity &#8211; for example, you should be looking at an industry that will be in demand for a long time, rather than one which is a trend or a fad.<\/li>\n<\/ul>\n<p>As with our first section, this should also be an area in which you have some interest &#8211; this is important as, to begin with, you\u2019re likely to be working long hours with little help, so it needs to be something you enjoy.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"3-money-matters\"><\/span>3. Money Matters<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Now that you\u2019ve got an idea of the kind of business and industry you\u2019re after, it\u2019s time to get down to brass tacks by looking at your <a href=\"https:\/\/www.franchiselocal.co.uk\/news\/how-much-money-is-required-to-open-a-franchise\/\">budget<\/a>. Almost every franchise opportunity will involve a financial investment from yourself and, while this varies from business to business, you should be budgeting for:<\/p>\n<ul>\n<li>The franchise initial fee<\/li>\n<li>Set up costs, including equipment\/materials<\/li>\n<li>Marketing for the launch of your business<\/li>\n<li>Living expenses for yourself for at least six months<\/li>\n<\/ul>\n<p>Banks will generally see a franchise business as a good bet when making a business loan. Still, you should always read your franchise contract carefully, as some franchisors will expect you to invest a certain percentage of your own capital.<\/p>\n<p>You\u2019ll also need to make yourself aware of the <a href=\"https:\/\/www.franchiselocal.co.uk\/news\/how-does-a-franchise-make-money\/\">ongoing fees<\/a> and percentages you will pay to the franchisor once your business is up and running.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-10216\" title=\"Making Connections\" src=\"https:\/\/www.franchiselocal.co.uk\/news\/wp-content\/uploads\/2021\/07\/Making-Connections.png\" alt=\"Making Connections\" width=\"1200\" height=\"801\" srcset=\"https:\/\/www.franchiselocal.co.uk\/news\/wp-content\/uploads\/2021\/07\/Making-Connections.png 1200w, https:\/\/www.franchiselocal.co.uk\/news\/wp-content\/uploads\/2021\/07\/Making-Connections-300x200.png 300w, https:\/\/www.franchiselocal.co.uk\/news\/wp-content\/uploads\/2021\/07\/Making-Connections-1024x684.png 1024w, https:\/\/www.franchiselocal.co.uk\/news\/wp-content\/uploads\/2021\/07\/Making-Connections-768x513.png 768w, https:\/\/www.franchiselocal.co.uk\/news\/wp-content\/uploads\/2021\/07\/Making-Connections-150x100.png 150w, https:\/\/www.franchiselocal.co.uk\/news\/wp-content\/uploads\/2021\/07\/Making-Connections-600x401.png 600w, https:\/\/www.franchiselocal.co.uk\/news\/wp-content\/uploads\/2021\/07\/Making-Connections-696x465.png 696w, https:\/\/www.franchiselocal.co.uk\/news\/wp-content\/uploads\/2021\/07\/Making-Connections-1068x713.png 1068w, https:\/\/www.franchiselocal.co.uk\/news\/wp-content\/uploads\/2021\/07\/Making-Connections-629x420.png 629w, https:\/\/www.franchiselocal.co.uk\/news\/wp-content\/uploads\/2021\/07\/Making-Connections-20x13.png 20w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<h3><span class=\"ez-toc-section\" id=\"4-making-connections\"><\/span>4. Making Connections<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>So, you\u2019re now armed with the outline of your business, and you know how much cash you have to play with; it\u2019s time to get out there and mingle.<\/p>\n<p>Franchise fairs and exhibitions can be an excellent way of finding out what\u2019s available in your area and can help you to gain a little inspiration by meeting people who have been there and done that. Pay a visit to <a href=\"https:\/\/www.thebfa.org\/\" target=\"_blank\" rel=\"noopener\">The British Franchise Association<\/a> to find out about forthcoming events (as well as lots of other really useful information to help you on your way).<\/p>\n<h3><span class=\"ez-toc-section\" id=\"5-touching-base\"><\/span>5. Touching Base<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Your next step on the journey to franchise freedom is to start putting together your database of contacts. This should include:<\/p>\n<ul>\n<li>Contacts gained from visiting events<\/li>\n<li>Franchisors<\/li>\n<li>Potential customers<\/li>\n<li>Marketing contacts such as local media and bloggers<\/li>\n<\/ul>\n<p>This central database will be absolutely vital once you\u2019re ready to launch your business so, it\u2019s worth paying close attention to this.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"6-getting-social\"><\/span>6. Getting Social<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>By now, you\u2019ve narrowed down your shortlist, and you\u2019re approaching crunch time in terms of making a decision. At this point, it\u2019s really sensible to set up some <a href=\"https:\/\/www.facebook.com\/franchiselocal\/\" target=\"_blank\" rel=\"noopener\">social media pages<\/a> and join some groups. This will allow you to engage with members of your local community to find out how they feel about a particular kind of new business within the area. This can be really helpful in making that final decision and starting your journey as a franchisee.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"7-signing-on-the-dotted-line\"><\/span>7. Signing On The Dotted Line<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Once you\u2019re ready to commit to your franchise, it\u2019s a good idea to meet with or talk to existing franchisees within the brand to get the lowdown on what it\u2019s like as well as some helpful tips.<\/p>\n<p>You should also enlist the services of a solicitor to look over your franchise contract for you to make sure that there aren\u2019t any nasty surprises further down the line. At this stage, you\u2019ll also need to be putting together a killer <a href=\"https:\/\/www.franchiselocal.co.uk\/news\/franchise-marketing-how-best-to-succeed-with-these-marketing-tips\/\">marketing campaign<\/a>\u00a0to make sure that your business gets off to a flying start.<\/p>\n<h4>Conclusion<\/h4>\n<p>Deciding on the right franchise opportunity for you is a marathon, not a sprint, and it\u2019s vital that you put in the time and effort to make the right choice. Once you\u2019ve committed to a franchise, you\u2019re automatically locked into a contract with the franchisor as well as being committed to repaying any business loans, regardless of whether you succeed or not. For this reason, you need to do your due diligence so talk to as many people as possible and make sure that you\u2019re fully aware of everything that will be required of you.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the past year and a half, the UK has seen many changes, some of which will be reversed as restrictions are lifted &#8211; and others that are here to stay. Having been working from home for over a year and enjoying the improved work\/life balance that this offers, many Brits have found themselves re-evaluating [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":10217,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[29],"tags":[],"class_list":["post-10215","post","type-post","status-publish","format-standard","has-post-thumbnail","category-tips-advice"],"acf":[],"jetpack_featured_media_url":"https:\/\/www.franchiselocal.co.uk\/news\/wp-content\/uploads\/2021\/07\/7-Ways-To-Find-The-Perfect-Franchise-For-You.png","_links":{"self":[{"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/posts\/10215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/comments?post=10215"}],"version-history":[{"count":0,"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/posts\/10215\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/media\/10217"}],"wp:attachment":[{"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/media?parent=10215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/categories?post=10215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/tags?post=10215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}