What are master franchises?
There are plenty of terms you will hear thrown around when it comes to franchising and we won’t always necessarily know what they mean.
For example, when you are researching franchise opportunities, you might come across the term ‘master franchises’.
These are franchises that have been successful abroad but that have not been set up in the UK yet. You buy this master franchise and sub-franchise it.
You need to put a lot of thought into the decision if you are thinking of taking on a master franchise and you need to choose something that suits you as well as your goals and your skills. Once you have found the franchise that you want to get involved in, you need to be able to negotiate the deal so you are happy with it.
It’s always important to remember that you shouldn’t sign a contract until you have done your homework and you are happy with the deal. Get the contract properly checked to ensure that you’re falling into any traps and visit the company, paying attention to their products, systems, purchasing and marketing.
Once you are happy with everything, go ahead with the deal and start a new and exciting career with a master franchise.