These are the 18 best franchises to join in the UK, according to the bfa

April 25, 2018

The finalists for the annual bfa Franchisor of the Year Awards have been announced with some familiar names among those listed…

The UK’s top franchise brands include McDonald’s, Driver Hire, Tax Assist, and Tutor Doctor – according to the finalist list announced for the esteemed British Franchise Association (bfa) HSBC Franchisor of the Year Awards 2018.

A celebration of excellence in franchising, highlighting success across areas such as franchise support and brand awareness, the Franchisor the Year Awards are industry-renowned for recognising franchises who go the extra mile.

The awards shortlist was decided by franchise experts including Pip Wilkins QFP, CEO of the bfa.

The finalists will now present their cases to a judging panel – which includes Alan Wilkinson QFP, head of UK franchise development at The Franchising Centre, among others – on March 20 and March 22, with winners announced at the bfa Annual Conference on June 28 at the ICC in Birmingham.

The franchisor award category finalists are as follows:

  1. Angela’s Swim School
  2. Agency Express
  3. Autosmart
  4. Barking Mad
  5. Bright & Beautiful UK
  6. Costa Coffee
  7. Driver Hire Nationwide
  8. Expense Reduction Analysts
  9. Fitness Space
  10. Home Instead
  11. Mac Tools
  12. McDonald’s Restaurants Ltd
  13. Revive! Auto Innovations (UK) Ltd
  14. Riverford Organic Farmers
  15. Stage Coach Performing Arts
  16. TaxAssist Accountants
  17. Tutor Doctor
  18. We Love Pets

Wilkins commented;

“Our annual awards are proving more popular than ever, with a 32% increase in entries this year over 2017, so it’s been a tough task to narrow it down to our 18 finalists. I’d like to thank everyone who entered and congratulate our finalists, you have already earned the right to proudly display our new bfa HSBC Franchise Award Finalist logo.

“It’s wonderful to see so many great entries, the effort and commitment that goes into every one is undeniable. Good luck to all on the shortlist and I look forward to seeing your presentations next month!”

On being shortlisted for the awards, Tutor Doctor’s director of global franchisee support, Tim Morris, added:

“We’re immensely proud to be able to showcase our efforts and exciting results to our esteemed colleagues at the bfa and our peers throughout the franchise industry and beyond.”

Source: Start-Ups

Best franchises in UK

April 22, 2018

Often, when investors begin searching for a franchise opportunity, they start by looking for the best franchises UK industry has to offer. However, deciding what constitutes ‘best’ isn’t always straightforward, especially as each individual investor will have their own unique set of skills, experience and requirements. It’s therefore up to every prospective franchisee to look at the benefits offered by available franchises to decide which business is best for them. To help you make your decision, we’ve listed some of the most important things to consider when looking for the best available franchises in UK industry for you.

Budget

Money is often the most important consideration for entrepreneurs looking to invest in a franchise. The cost of buying into a franchise can vary from a few thousand pounds to millions, so the first thing you’ll need to do is assess your finances.

Take a look at the average cost of franchise opportunities in the area you’re interested in. Many franchises will clearly list their costs online while others will provide a detailed breakdown when you get in touch. As well as the franchise fee, you need to take a look at how much it will cost to get your business up and running, how much your overheads are likely to be and how long it is on average before franchisees begin to see a profit. Remember that banks are very supportive of franchises, so if you don’t have quite enough money to invest, you may find you can borrow the rest from your lender.

Geography

A lot of franchises give their investors exclusive territories when they become franchisees. If you don’t want to travel too far for work, you’ll need to check that a location is available in your area before investing in the business.

Experience and qualifications

Although a lot of franchises don’t require their franchisees to have any previous experience or qualifications in the industry they’re involved with, there are some that do. Checking the requirements early on will ensure you don’t spend time pursuing an opportunity you’re unqualified for.

Whether previous experience is required by the brand or not, investing in an industry you’re familiar with will often give you an advantage over the competition. An understanding of the industry will also make it easier for you to master the training provided by the franchise, connect with your customer base and make your business a success.

Demand

Many people consider that the best franchises UK industry has to offer are those that are the most profitable. All investors want to make money from their business, so it’s incredibly important that you check the profitability of your prospective investment before you part with your hard-earned cash. Look at the level of demand for the products and services the business offers. Ideally, you should check long-term trends in demand to ensure that the franchise isn’t just a flash in the pan.

If you can, try to experience these products or services for yourself. This will give you the chance to decide just how unique or interesting the franchise is and therefore give you an indication of its long-term viability.

If you’re ready to begin your search for your next investment, or if you just want to find out a little more about the franchise industry, explore our site or get in touch with a member of our team.

Source: TG Daily