So you want to franchise Franchise Consultants UK by jolinmilioncherie

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									So you want
to franchise?
                                             franchisees of the right calibre and
                                             should you convert existing employees
                                             or not. Bear in mind that changes may
                                             have to be made in the existing business
                                             both in systems and human resources.
                                             So, having read the books and attended
                                             the seminars you may be tempted to set
                                             up the franchise yourself, but unless you
                                             want to emulate your competitors
                                             mistakes (and you won't discover them
                                             from a glossy brochure or exhibition
                                             stand) you should first obtain some
                                             professional help.
                                             Your first port of call should be to a
                                             franchise consultant, who can offer a
                                             complete range of services from a
                                             feasibility study through to a full-blown
                                             business plan. Services provided should
Thinking about it? David Tonchin, a
                                             also include operations and training
Director with Franchise Your Business
                                             manuals, reporting systems,
Ltd takes a brief look at just what is
involved.                                    organisational structures, writing the
                                             text for your recruitment brochure,
There are very many variations in            presentations to your bankers (if raising
franchise structures, for example, job       capital) and writing a brief for the
franchises, fractional franchises, area      franchise lawyer.
developer, regional and master
                                             If required, the consultant should also
franchises. Even within these types there
are variations depending on particular       be capable of structuring the franchise
                                             for future expansion in European/
circumstances.
                                             overseas markets. All services provided
Some levy a management service fee that      should be carried out by the consultant
can range from 5%-30%, others operate        and not passed to any intermediaries.
solely on product mark up, some have a
                                             The franchise consultant should have a
combination of both, some give exclusive
territories and others don't. Within their   proven track record, be capable of
                                             designing and providing practical help
network some franchisors have more
                                             to implement a franchise structure
than one structure.
                                             specifically for your business taking into
                                             account the resources you have
How the franchise is structured is crucial
                                             available.
to the success of the proposed network.
Many factors will need to be taken into      Above all, ensure that the consultants
consideration including company              have actually run a successful franchised
culture, management style and the            business in a high level capacity as
aspirations of the franchisor, hearing in    theory is fine, but reality is often very
mind that these factors are likely in        different.
change by design or otherwise.
                                             David Tonchin Franchise Your
Other questions that need to be              Business Ltd, the longest established
addressed are how to maximise the            franchise consultants in the UK
appeal of the franchise, how to recruit

								
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