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Getting started with a business advice franchise

Business advice and consultancy companies are becoming increasingly popular this year. The sector is fast-growing and is now estimated to be worth over £60 billion. Business consultancy firms can help with all aspects of business advice. This includes management, strategy, implementation and industry specialist forms. All kinds of businesses look to use business advice companies to help with their issues. This includes SMEs all the way up to large corporate brands. Therefore, this type of company can provide an excellent franchising opportunity, allowing you to run your own business wherever you choose. To learn more about business advice franchises in the UK, continue reading.

What is business consulting?

The UK business consulting sector is the second largest in Europe, with over £10b worth of the UK sector coming from management consulting. Essentially, a business consulting company provides valuable advice and help to other businesses. They are B2B businesses which aim to give expertise and knowledge to those who need it in various industries. This means that the success of these type of businesses depends on how well their client businesses are growing. Generally, business consulting companies give information to their clients as and when they need it. However, some larger companies are retained by their clients and used more frequently.

Why choose a franchise?

If you are interested in business consulting and advice or other B2B Franchises, you may be unsure of whether to start your own company from scratch, or open up a franchise of an already successful business. There are several great benefits of choosing to open a franchise rather than start your own business.

Firstly, the statistics show that franchises have better success rates. In 2018, 93% of franchisees claimed profitability. One of the main reasons for this is that franchises already have an established brand image. This means that you don’t have to spend time marketing your business and getting its name out there, as the hard work has already been done. Potential clients are already aware of the business which allows you to go further in the sales process.

When you open a business consultancy franchise, the franchisor will provide you with all the marketing and advertising tools that you need. They are aware of what works and what doesn’t and can give you their expert advice on how to be successful. The franchisor can help establish your franchise in your local areas and help you find the right marketing strategy for you.

Plus, opening a franchise means you will receive bespoke training programs and be given the skills you need to succeed. The franchisor will give you a business plan and goal support and may also supply some equipment for you.

Where to start?

If you want to open a business consultancy franchise, you first need to do your research. There are many companies out there, so make sure to go with one that aligns with your own values and work ethic. Work out what your budget is, as this will impact which businesses you can franchise with. Most franchisees need to invest between £10,000 and £40,000 to get started.

Before opening any franchise, it is important that you have relevant experience that can ensure your success. Make sure you have previous experience in consulting and business advice. Previous experience of running a business is advantageous, but not always essential. As long as you are business-minded and can learn quickly, you can become a successful franchisee.

Can you run a business consulting franchise from home?

The great thing about opening a business consulting franchise is that it is possible to do it from home. If your franchisor allows it, you could set up a home office for your franchise, which is common for tax consultants who run their franchises in their spare time.

What are the top UK business advice franchises?

There are many UK business consultancy firms which you can franchise with. Among these include Action Coach, Chrysalis Partners, McDaan Limited and SME Skills Academy. It is essential that you research and compare costs and training offered with each franchise to ensure you invest in the best business for you.

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