This webchat is in association with
Franchising can be the perfect start in business for aspiring entrepreneurs, especially those who don't have a specific ides.
For this webchat we'll be joined by Tom Endean from the British Franchise Association, Sarah Moore from franchisor Autosmart and franchisee Tom Fenwick-Brown. Together they will be able to answer all your franchising questions.
There are nearly 1000 franchised brands in the UK, so the options go well beyond the most well known examples of franchisors such as fast food outlets like McDonald's and Subway.
According to research from the British Franchise Association (bfa) and Natwest, franchising contributes more than £12bn to the UK economy and over half a million of the population are currently working in the franchise industry, which counts 36,900 franchisees.
This represents a massive increase since 20 years ago when the industry had a £5bn turnover and just 18,300 franchisee outlets.
Our expert panel will be able to answer your questions on taking on a franchise, how to identify the right one for you, what you need to ask when looking for the right option for you. Find out what the formats are available, how much it will cost you to join a franchise and what the benefits are.
If you already have a business and are looking to franchise it, they'll also be able to help with that.
This way of business has been especially popular during the recession as it is a low-risk way of going into business and 90% of franchises have reported profits. The research found that four out of five franchisees believed that being part of a franchise gave them an advantage over small businesses that weren't.
Bfa expects the trend to continue, so get your questions ready and join the conversation to find out everything you need to know about franchising.