The BFA recognises more than 900 business format franchises operating in the UK however most people can recall very few franchise operations aside from some of the more prominent high street brands such as Mcdonalds, Subway or Domino’s Pizza. Very few people realise that there are also hundreds of franchise opportunities that are run from a home office set up, a van or from small commercial premises.
In this module we look at the some of these examples both large and small and understand what makes them successful.
- Franchise Brand – It goes without saying that the prominent brands such as Subway of which there are more than 1500 in the UK are quite distinctive and recognisable. So why would some one recognise a franchise brand with only 10 or even 50 franchisees? Franchise brands are not only strong due to their prominence in their chosen market but specifically to their core customer group.
Example – No Letting Go Inventory Management Services provide inventory reports as well as check-in and check-out reports to residents specifically within the Private rentals market. The core target customers are private letting agents and landlords. The franchisee has an area of around 12,500 privately let properties and only requires a 10% market share in that region to achieve excellent results. Their brand is clean cut and well known in the lettings industry.
- Franchise Age – The age of a franchise is not always relevant in marking a good or a bad franchise. But age can give clear signs of a franchise brands reputation and a clear insight into their growth and maturity.
For example – OSCAR Pet Foods have been operating since the early 1990’s, they have an established network of more than 90 franchisees focused on pet food deliveries to people’s homes within a set region. Their age and size shows that they’ve had consistent and steady growth through their time as a franchise which means that franchisees are happy and achieving the success they aim to achieve through this franchise business.
- Franchisees – Without doubt the more franchisees you have the bigger impact a franchise brand will have. If we look at Maid2Clean who were one of the early domestic cleaning franchises in their market. They have a network of more than 160 franchise territories with around 120 franchisees. Their growth and prominence in the franchise market place really does set them as a top option should you be looking at Domestic Cleaning Franchise Opportunities.
For a complete list of Franchise Opportunities available that support the ethos and mission at FranchisingWorks then visit http://www.franchisingworks.org/franchise-opportunities here you will see more than 40 franchise brands that are proven, protected, profitable and duplicable.
Look forward to Module 4 – UK Franchising Market – Key facts