Becoming sold on franchising
A lot of people have the desire to be their own bosses and run their own online businesses. The problem for many wannabe entrepreneurs, however, is they lack any sort of business experience.
Yes, you might have worked behind a counter or in an office. But that doesn’t give you the experience you need to start a business from scratch. It is why more and more people decide to buy a UK franchise.
A business model on a plate
When you purchase a UK franchise, you buy a copy of an existing trading model. Most UK franchises come as a complete package, including training. In other words, you don’t need any business start-up experience. This is what attracts people. Very often, all they want initially is the knowledge and first-hand experience.
Yes, you can learn from books, but it isn’t the same thing. There is no substitute for experience at the coal face. In the beginning, the intention of operating a UK franchise may be just to learn the ropes. Running the franchise long term is not the goal. The final aim was to set up your own independent business.
Falling in love with franchising
But it’s very easy to get hooked running a franchise operation. Because of this, most franchisees change their minds and make it their new permanent goal.
Operating a franchise business is like running your own independent business in many ways. In fact, it is your own business. The only difference is that there will be certain restrictions as specified in the franchise agreement.
Protecting both parties
Restrictive covenants are there to protect both the franchisee and the franchisor. One of the more common is specifying a territory outside of which you should not operate. It helps to protect a franchisee’s sales within a specific geographical area.
From the franchisor’s viewpoint, restrictions are imposed to protect the integrity of the brand. A franchisor will also include some post-termination rules. The idea is to prevent you from setting up direct competition, poaching staff and misusing confidential information.
Staying where the grass is greenest
Once most people purchase a UK franchise, they stick with it. You get to know the product or service inside out. You become familiar with the systems. It’s your business, and you can build a sound, trusted business reputation. Why bother to change?
If you’d like to find out more about operating a UK franchise, take a look around the Franchise UK website. You’ll find all the information you need, plus a comprehensive directory listing current UK franchise opportunities.