Purchasing an existing franchise in the UK
Are you planning to start a franchise business in the UK, but from scratch? This is possible to some extent, but not at all times. At present, there are various franchisees in the country who are seeking to sell their franchises for a number of reasons; the important ones are as follows:
• The franchisee has attained much success in this business, and is willing to sell it off at a profit. • The franchisee is at a retirement stage. • The franchisee realises that it is simply not his ball of game, and wishes to shift to another new venture.
In fact, buying an existing franchise business has become the latest fad in the UK, as it is recognised as the most sensible and secure option of getting involved into a business. However, while buying an existing franchise, you will have to pay more upfront fees, in conjunction with the goodwill of the existing business. Nevertheless, it also offers the following benefits to the buyer:
• The buyer is able to generate revenue at an earlier stage. • He may expect a guaranteed income from day one. • He will not be required to start from the scratch, whilst avoiding any risks thereon. • He gets a ready customer base and public image. • He can easily make financial projections based on past performance. • He is equipped with trained personnel and established supplier base.