{"id":15323,"date":"2022-07-11T14:15:55","date_gmt":"2022-07-11T13:15:55","guid":{"rendered":"https:\/\/www.franchiselocal.co.uk\/news\/?p=15323"},"modified":"2022-07-11T17:09:06","modified_gmt":"2022-07-11T16:09:06","slug":"are-you-unable-find-a-suitable-franchise","status":"publish","type":"post","link":"https:\/\/www.franchiselocal.co.uk\/news\/are-you-unable-find-a-suitable-franchise\/","title":{"rendered":"Read This If You Are Unable To Find A Suitable Franchise"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_89 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\/are-you-unable-find-a-suitable-franchise\/#buying-a-franchise-is-a-considered-purchase\" >Buying A Franchise Is A Considered Purchase<\/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\/are-you-unable-find-a-suitable-franchise\/#a-franchise-increases-your-chance-of-business-success\" >A Franchise Increases Your Chance Of Business Success<\/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\/are-you-unable-find-a-suitable-franchise\/#franchisors-are-searching-for-best-fit-franchisees\" >Franchisors Are Searching For Best Fit Franchisees<\/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\/are-you-unable-find-a-suitable-franchise\/#ask-what-is-included-for-your-franchise-fee\" >Ask What Is Included For Your Franchise Fee<\/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\/are-you-unable-find-a-suitable-franchise\/#consider-the-total-cost-of-a-franchise\" >Consider The Total Cost Of A Franchise<\/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\/are-you-unable-find-a-suitable-franchise\/#there-is-free-assistance-to-help-you-buy-a-franchise\" >There Is Free Assistance To Help You Buy A Franchise<\/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>If you are looking to become a franchisee, you will no doubt be searching high and low for <a href=\"https:\/\/www.franchiselocal.co.uk\/\">the best franchise opportunities<\/a> out there!<\/p>\n<p>It might seem like there are endless options, and your initial search probably asks more questions than gives answers. However, you are eventually going to make a \u2018considered\u2019 purchase rather than an impulse buy, so take your time, get all the facts and figures and be ready to make an informed decision when the time is right for you.<\/p>\n<p>Look at getting the right franchise for you, at the cost that is sustainable to you, in the sector that interests you the most, and only at a time that suits you. Never feel like you are being pushed into a particular franchise because it suits other people than you!<\/p>\n<h3><span class=\"ez-toc-section\" id=\"buying-a-franchise-is-a-considered-purchase\"><\/span><strong>Buying A Franchise Is A Considered Purchase<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>It is fair to say that a <a href=\"https:\/\/www.franchiselocal.co.uk\/news\/franchise-meaning-in-business\/\">franchise<\/a> has a much higher chance of success than any other business format. This was proven to be the case from an independent study a few years ago, which reported that more than 90% of franchised businesses perform compared to the industry-wide reported figure of 40% of independent business not surviving beyond two years. This short report does not suggest that everyone should be looking to buy a franchise, indeed, franchising is not for everyone!<\/p>\n<p>I bet you did not expect to read this from someone heavily involved in franchising. Still, it is a fair point. If anyone gets this element incorrect, then it can be a short-term gain for long-term pain, ask anyone already in franchising, and they will tell you that nobody wins in these scenarios!<\/p>\n<h3><span class=\"ez-toc-section\" id=\"a-franchise-increases-your-chance-of-business-success\"><\/span><strong>A Franchise Increases Your Chance Of Business Success<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>When looking at your potential franchise options, start by looking for ones that you have a genuine interest in the service or product that they are offering. This way, your chances of putting maximum effort into working the brand or system are much more significant; this will go part way to having a successful business!<\/p>\n<p>Do you also believe that you will be able to operate the franchise and follow the systems? After all, this is precisely what a franchise is, the hard work has already been done, and you need to follow the proven way to do it yourself\u2026<\/p>\n<p>It might come as a surprise to you, but franchisors rarely look for anyone\u2019s ability to buy a said franchise; instead, they look for \u2018best fit\u2019, so please do not get into the mindset that you can just rock up and buy any franchise, you might end up being very disappointed!<\/p>\n<h3><span class=\"ez-toc-section\" id=\"franchisors-are-searching-for-best-fit-franchisees\"><\/span><strong>Franchisors Are Searching For Best Fit Franchisees<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Buying a franchise is also a long-term commitment, often a five or 10-year renewable term.<\/p>\n<p>Whilst there are options mid-term during your franchise to exit if you need to, careful consideration needs to be taken into account. Some questions to ask yourself might include:<\/p>\n<ul>\n<li>Do you plan to stay in your current home?<\/li>\n<li>What does your survival budget look like?<\/li>\n<li>Can you expand?<\/li>\n<li>Does your family support you?<\/li>\n<\/ul>\n<p>There will be lots of others for sure!<\/p>\n<h3><span class=\"ez-toc-section\" id=\"ask-what-is-included-for-your-franchise-fee\"><\/span><strong>Ask What Is Included For Your Franchise Fee<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>You might be wondering why you should pay an <a href=\"https:\/\/www.franchiselocal.co.uk\/news\/franchise-royalty-fees-what-are-they-and-how-much-should-they-be\/\">initial fee<\/a> for the benefit of buying a franchise, especially for brick-and-mortar franchises having to commit significant funds to assets such as stock and equipment!<\/p>\n<p>Every <a href=\"https:\/\/www.franchiselocal.co.uk\/news\/the-difference-between-a-franchisor-and-franchisee\/\">franchisor<\/a> will be looking to recoup the costs to onboard you as a franchisee, but this is only the beginning. Another cost to the franchisor is the ongoing support obligation they make to you, which will often come from a head office structure that needs to be paid for, of course!<\/p>\n<p>There are many more areas to include here that are too extensive for this short report. However, ask what you get for your fee, and you will be staggered with the response; in a good way. Imagine what costs you would incur by trying to get all of this done yourself!<\/p>\n<h3><span class=\"ez-toc-section\" id=\"consider-the-total-cost-of-a-franchise\"><\/span><strong>Consider The Total Cost Of A Franchise<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Just like any business, a franchise will require working capital and cash flow to keep it going. It is well known in business circles that there are so many profitable businesses out there that do not survive. Not because they are not profitable, but because they run out of available cash, and this is very true of some franchisees thought process when buying a franchise.<\/p>\n<p>A franchised business is rarely one that you can buy, open the door and then expect a flood of new business. Instead, there are <a href=\"https:\/\/www.franchiselocal.co.uk\/news\/franchise-marketing-how-best-to-succeed-with-these-marketing-tips\/\">marketing<\/a> programmes to roll out, which come at a cost. Staff development, again which are cost-based. The cost of the goods or services you need on hand to be able to sell and make a margin. Then there are other fixed and variable costs to think about before you even think about taking your salary or profits!<\/p>\n<h3><span class=\"ez-toc-section\" id=\"there-is-free-assistance-to-help-you-buy-a-franchise\"><\/span><strong>There Is Free Assistance To Help You Buy A Franchise<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>There are specific franchise consultants to help you find and secure a franchise. There is a massive benefit to you as often the franchise consultants will be appointed and paid by the franchised operators you are looking into and will almost certainly cost you nothing to engage with.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you are looking to become a franchisee, you will no doubt be searching high and low for the best franchise opportunities out there! It might seem like there are endless options, and your initial search probably asks more questions than gives answers. However, you are eventually going to make a \u2018considered\u2019 purchase rather than [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":15324,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[29],"tags":[],"class_list":["post-15323","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\/2022\/07\/Are-You-Unable-Find-A-Suitable-Franchise.jpg","_links":{"self":[{"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/posts\/15323","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\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/comments?post=15323"}],"version-history":[{"count":0,"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/posts\/15323\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/media\/15324"}],"wp:attachment":[{"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/media?parent=15323"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/categories?post=15323"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/tags?post=15323"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}