A few franchise associated queries answered
Franchising in the UK today has become a very popular business. The big, noticeable brand names and the mutually beneficial marketing structures have made sure that franchising in the UK grows year on year.
Franchising, however, is not a walk in the park, especially if you do not make the effort to research a business’s past record and other details which can prove critical to you in the long run.
Questions to ask your prospective franchiser
Franchisers may promise you a lot and may also look very impressive when it comes to delivering on a few promises as well. It is your duty to ask and enquire about the following few things:
- What are the support functions and services that the franchiser can help you with. During the course of business, you may come across a number of hindrances. What can your franchiser do to assist you with issues? Such as issues related to labour, stock shortages and stock storage, customer complaints and equipment breakdown.
- The training programmes and their effectiveness. Whether there will be training programmes in the future and will they help you cope with the challenges of intermediate and higher level challenges in the business
- Will the goods, products or services provided to you by a supplier employed by the franchisers, be consistent?
Also remember to check the company’s past record and annual statements before making a commitment of any sort.