The British Franchise Association and potential franchising opportunities
The British Franchise Association (BFA) has been formed with a primary view to helping potential franchisees in recognising their pros and cons. The BFA also assists various businesses engaged in franchising in securing their own position and separating them from their competitors.
The BFA was created in 1977, when the UK’s key franchising companies decided to establish their own association and they named it the British Franchise Association, abbreviated as BFA. The major objective of this self-governing body since then has been to work in the interests of the franchising companies who meet its criteria for the following:
• Business structure • Contractual terms between franchisor and franchisee • System testing • Success as a franchise
Earlier, franchising business was just confined to a few industries, such as fast food, motor distribution and hotels with certain amount of uniformity in the structure and operation of each business. In today’s fast moving business environment, the limit has been expanded to varied business sectors, such as insurance business, hairdressing, printing, designing, video rental, roof thatching and many more, with each business carrying its own significance in terms of salient characteristics and pitfalls. In view of the above, the BFA has set up certain standards such that potential franchisees can offer credence to BFA accreditation.