Franchising: buying a franchise
Mark Scott, franchise director of NatWest/RBS, explains the process of buying a franchising – from where to start looking to expected costs and how to get that extra bit of finance you might need to cover fees.
Franchising is doing unusually well during the recession. 90% of
franchises are still trading profitably, and 68% of a total of
34,600 UK franchisees feel sure that their business will either
improve or stay the same over the next 12 months. But with more
than 800 franchise systems to choose from in the UK and average
startup costs of £68,300, where do you start as a wannabe
franchisee? Well, watching this video wouldn't hurt.
RBS and NatWest have created a £1m franchise find for new
and existing franchisees. Find out about the franchise fund
here.
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Mark Scott, franchise director of NatWest/RBS, introduces franchising and suggests who it suits best, and explains the basic costs and skills involved and why franchising maybe a safer startup option at times like these.