Some facts about the British franchise Association
British Franchise Association (BFA) became a significant entity in 1977 and went on to become the only body that voluntary provides accreditation for the franchisors in UK. The BFA accredits franchise companies for membership on the basis of a standard factors.
These standards include a company’s...
- ...day-to-day transactions
- ... financial position
- ...disclosure made to prospective franchisees
- ...terms for the franchisee agreement
All these standards are based on the European code of ethics for franchising, which was agreed by the members of the European Franchise Federation in 1990, and they are recognised by the European commission. Companies are re-accredited by the BFA for membership purpose on a regular basis.
- In order to qualify as a full member, franchisors have to prove a trading and franchising record.
- Franchisors have to submit a complete application form that should include the following details:
- Disclosure document
- The proof of correct pilot scheme
- Franchise agreement
In addition to these, the franchisor should provide evidence of successful franchising over a minimum 2 year period, with at least four franchisees.
To become an associate member of the BFA, companies should have a growing franchise network and evidence of successful franchising for 1 year with at least 1 year of experience in the field.
For provisional listings, companies have to develop their franchising concept and take BFA accredited advice on its structure.