My HMO Journey: No rest for the wicked as we approach...
A great number of franchise opportunities exist for UK entrepreneurs. When you consider which one to invest in, make sure you're clear about the kind of support you need and expect from your franchisor.
This support level will have a real effect on both your business success, and your franchisee satisfaction. Some people naturally work better alone, building up systems and structures that work for their own style. Others prefer the structures and guidance offered by successful franchisors.
Be clear about the level of support you want in key business areas such as procurement, sales and marketing, then analyse the prospective franchises that interest you further. There are a range of websites full of detailed analysis and information about UK franchises, and time spent researching this will really pay off.
Learn as much as you can about the franchise system and how it works, and identify what support each prospective franchise offers to determine if it's right for you. Speak with existing owners as much as possible to learn from them.
A reliable sign of a good franchisor, is if they have a dedicated team or department specifically in place to help their franchisees. This suggests they are truly committed to supporting their network.
Another aspect to look at is whether the level of franchisor support offered is directly tied into investment levels, and if there are ongoing fees in place for different levels of ongoing support. Look at the disclosure documents you will have received as a prospective investor, to find out more.
The fact remains, there are a great deal of excellent and viable UK franchise opportunities, but each offers something slightly different in terms of support and costs. So spend as much time researching the options beforehand to make sure you make a good decision, based on strong evidence and data - not simply gut feel.