Frequently Asked Questions
Established individuals from the franchise industry share their knowledge and experience to answer some of the most common franchising questions.
Question: What is a franchise?
A model of a successful business that replicates itself throughout the country by recruiting dynamic individuals who wish to emulate the methods and achievements of the mother company.
Geoff Whittle (pictured top) Managing Director Pro Kill
Question: How will the franchise help me establish the brand in my territory?
Some multi-national brands – McDonald’s for example – will be instantly recognisable, others less so but, however big or small, a good franchisor will invest in helping you establish their brand – now your brand also – in your own chosen territory.
This question should feature prominently on your checklist when you meet the franchisor. What are their plans for your launch in your local market place? Will there be a press release? Will there be an advertising campaign? What other media may be involved?
A good franchisor will be recommending which networking events to attend, at which exhibitions to take stands, in which trade publications to advertise and, in short, a good franchisor will do all they can to ensure your business is a success and plays an important part in their own strategy for growth.
The best franchise is when the franchisor and franchise owner work in partnership together. Finally, remember your own personal brand – it is you your clients will do business with.
Godfrey Lancashire (pictured second from top) Managing Director London House International
Question: Do I need previous experience in business to buy a franchise?
No you don’t for example MOLLY MAID Franchise Owners come from all walks of life; some run their businesses unaided while others share the management role with husbands or wives. We’ve found that a sales background can be an advantage, but the strength of the MOLLY MAID brand avoids the need for ‘hard sell’. We believe that previous business experience is less important than a capacity for hard work and determination to succeed.
Pam Bader OBE (pictured second from bottom) Chief Executive Officer MOLLY MAID
Question: What are the advantages of investing in a franchise over starting a business for yourself?
Cash Converters has spent £16 million in the last 16 years developing the brand in the UK. This has helped establish and retain our place as the leader in our field. As a franchise owner you immediately benefit from the recognised brand and the ongoing marketing, enabling your business to start on a much stronger footing.
Roger Warren (pictured bottom) pictured Operations Support Manager Cash Converters