Franchising is the method of marketing goods and services via a business formular licensed for other to copy.
A company offering the licence to replicate its business is called a franchisor.
A person who buys a licence to replicate a business system is called a franchisee.
The organisation, which regulates all franchising industry on an ethical basis is called BFA . BFA - The British Franchise Association. It - was set up by Business Format Franchisors.
It grants membership to those franchisors who meet the requiements of the franchising Code of Ethics and procedures.
It provides information about companies registered as bfa members.
The principle of franchising is that some companies prefer to grow by offering a license to sell their products or provide their service.
A franchisee pays a franchisor an initial fee based on a percentage of annual turnover or other criterias approved by the British Franchise Association.
Franchising partners enjoy independent ownership with the backing of a proven franchise system. The franchisor company obliges:
- to support the franchisees,
- to train extensively franchisee's staff in all core areas,
- to provide product development, marketing, sales, operations, business administration,
- to advertise through the Internet and publications in local and the UK newspapers and magazines,
- to promote the products and the services,
- to garantee supplier relationships and product knowledge support which enable immediate start-up.
For franchisees:FREE search for a franchising advisor , a franchising solicitor in our directories to check all the 'Franchise contract' points and to be sure the everything is fine from the legal point of view and that you will be a successful franchisee. FREE search for opportunities to be a successful business franchisee. For franchisors:List your franchise in the franchise for sale directories to promote your business, services / products and find franchisees. For solicitors and franchising advisors:List your details in the advisors or solicitors directories to use all advertising opportunities and find more customers for your services. |