Special Feature

SPRING INTO ACTION WITH A FRANCHISE!

18th April 2011

There’s never been a better time to buy a franchise, not just because the range and diversity of franchises on offer have never been greater but also because of the very welcome news that the banks are lending money again to help finance franchise start-ups. Gay Turner, of GTPR, provides a helpful insight into how to get the best value for your money.

Not only that, some franchisors are even offering their own financing packages, including deferred payments’ schemes. These initiatives will help new franchisees when they first set up and offer them the best chance to build successful businesses.

The RBS Group launched a franchise fund of £100 million, available for both RBS and NatWest customers. The group says: “The fund is aimed at 1800 new franchises with a view to creating 24,000 new jobs over the next four years.”

Franchising offers many benefits and advantages, enabling you to be your own boss but with training, support and on-going advice. It is a safer route to having your own business than starting an enterprise from scratch. But, just like starting up any new venture, you must follow some basic rules.

Total Franchise is a great place to begin your research: browse our website and read helpful advice from respected and well-known franchise professionals, who are independent and impartial.

Read the news and the case studies throughout the site to learn about the growing number of successful franchises and the people behind them. Then you can start to look in more detail at the franchises that most appeal to you, especially as you now have an opportunity to embark on something new in a completely different field, perhaps starting something that you’ve always, secretly, wanted to do.

Find out more about the British Franchise Association and read out resources section with helpful checklists and franchisor questionnaires.

You may want to go to an exhibition to find out more and so you can meet people face to face. There are several this year in different parts of the country, offering a wide choice of franchises and including many well known brand names.   Check our Exhibition section to see what’s on, when and where

If you decide to pursue your dream and become a franchisee, decide how much you can afford to spend before you go any further. Find out exactly what you will get for your money and the likely return on investment, including promotional support to get your new business off the ground and on-going marketing and PR to help it grow. This varies enormously between franchisors, so it helps if you understand some of the basics yourselves.

Ask prospective franchisors what is included in the investment you will be making. Will it cover all elements of promotion such as direct mail, advertising, internet promotion and PR? Will it include sales training and improving your communication skills? Will it cover learning how to use social media and making it work for your business?

Or will you have to do it yourself, using the franchisor’s template materials? You can advertise in your local press but this can be expensive. You can reach a much larger audience using social media and PR. If you go the PR route to get local coverage for your business, remember that there are many topics that local media love. These include awards, successes and achievements new employment opportunities, events, regeneration of neglected areas, eco-friendly strategies, human interest stories, animals and the local community in general.

Be seen to be involved by supporting local organisations, charities and events, perhaps even start your own event and lay on some simple hospitality. Be topical and “borrow” themes from popular TV programmes. Of course, being creative to get publicity takes time and effort, commodities in short supply when you are working hard to establish a new business. You could find a freelance person to help you at a reasonable cost, leaving you to get on with your key activity of being an effective entrepreneur.

Whatever you decide to do, one way to help your business grow without spending more money is to make sure it offers the best possible customer experience in your area so people will come back to you automatically and they will also recommend your outstanding, helpful and friendly service to others.

Good luck with the search!

For a free and impartial appraisal of your marketing and PR needs, please contact GTPR

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