How Franchising Works
The franchise industry contributes £17.2bn to the UK economy, with over 48,000 franchise units operating across the country. More and more people are turning to franchising to pursue a more flexible and rewarding lifestyle.
But, before you start to research franchise opportunities, it is important to have a clear understanding of what a franchise is, and if franchising is suitable for you…
NEW TO FRANCHISING?
What is a franchise?
In its most basic form a franchise is a legal agreement between a company (franchisor) and an individual (franchisee) that grants a license to do business under the franchisors brand name, along with specified products and services the franchisee can provide.
The majority of franchisors will also provide sufficient training and ongoing support to the franchisee to ensure the partnership is successful for both parties.
In most cases, the franchisee will pay an upfront franchise fee to the franchisor in order to begin trading, along with regular royalty payments in proportion to their earnings.
Why start a franchise?
- Proven product or service
- Established/recognised Brand
- Assured business systems and structure
- Learn from industry experts
- Minimise common startup mistakes
- Best franchisors provide ongoing development
- Franchise network marketing campaigns
- Professionally produced marketing materials
- History of marketing data and best practice within your industry
- Flexibility: you control when you work
- Franchises exist in a range of different industries to suit your interests
- Continuously develop yourself and your skill set
- Greatly improved earning potential
- Ability to achieve personal goals e.g early retirement
- Build a business that can be passed down through generations
Find out how John and Lisa used the Drain Doctor model to build a more flexible lifestyle.
“I no longer wanted to work in a large corporate environment with the usual company politics especially at senior levels. But, starting a business from scratch on one’s own is not easy and high risk and so the franchise route is very appealing as it’s a proven business model that lowers usual start up risks and has ongoing support.”
The Neighbourly Way
The Neighbourly franchise group holds five UK brands for you to explore. Aire Serv, Bright & Beautiful, Countrywide Grounds Maintenance, Drain Doctor and Mr. Electric all have available areas across the UK for you to begin your journey as a franchise owner.