Published on 16th October 2023
Becoming a business owner, being your own boss, it is a dream many have but don’t pursue. There are a number of reasons why some choose not to go down…
Read the latest franchising news stories from businesses across the UK including articles about top franchise opportunities
Looking to get into business for yourself but not by yourself? Read the latest news from franchises in the UK. If you’re reading about it, franchisees are demonstrating resilience and are enjoying the luxuries of business ownership. Could you be the next franchisee with a leading brand?
There are over 1,000 franchises in the UK, and more than ten times as many franchisees. From dog walking to pet sitting, fast food to plumbing, there is something for everyone.
Read the latest news and discover a world of franchises at Franchise Planet.
Franchising is one of several methods of business expansion. A franchise collectively refers to a network of businesses operating under the business format franchise model, whilst a franchise can also refer to a specific business within it.
In franchising, all franchised units follow the same structure, offer the same services and aim for a common goal. How the business is structured, how each unit should operate, will be outlined in a franchising document called the franchise operations manual. The relationship between all parties and terms of access to the “ops” manual is outlined in a document called the franchise agreement.
When you invest in a franchise, you’re ultimately setting up your own business. In addition to the “business in a box” that you get when investing, you get the rights to trade as an already-established, recognised brand name.
Some good examples of well-known franchised brands include McDonald’s, Wiltshire Farm Foods, Tubz Vending and Dial a Dog Wash.
There are no specific costs for running a franchise. The investment will vary depending on the franchise package. From zero-cost franchises where most of the expenses are incurred later after establishment, through to higher end franchises that cost upwards of £250,000, the cost really depends on the business. But we shouldn’t say “cost”, but rather “investment”, because the business is yours, at the end of the agreement, you’re welcome to sell as a franchise resale and get back a reasonable amount, usually more than what you initially paid because your hard work and efforts add value. Not to mention the customer base and reputation you’ve built up.
The Franchise Planet franchise directory lists many different opportunities with a number of investments. Some opportunities even offer a range of different packages to suit your budget.
From business expansion stories to franchising award wins, there is a lot going on in UK franchising. The sector is thriving and with more and more people getting involved within franchising, the opportunities are constantly growing.
You can read the latest UK franchise news stories at Franchise Planet.