Having been one of the most rapidly growing industries in the UK over the past few years, franchising has managed to generate an enormous inflow of money and other resources. Such growth – however promising – also tends to attract unsavoury business practices that directly and adversely impact the entire industry. To keep such activities in check and to create, expand and foster a thriving franchising community in the UK, the British Franchise Association (BFA) was founded in 1977 by a group of leading franchise businesses and advisors.
The principal goal of the BFA is to promote ‘ethical and fair franchising practices’. Over the years, the BFA has emerged to be the voice of authority in the UK franchising industry, and its role stretches much wider today than what the founding vision had anticipated.
What is the Role of the BFA?
The BFA plays many roles such as:
- Creating a credible community of franchisors, franchisees, franchise advisors, suppliers and other peripheral professionals
- Providing fair, trustworthy and objective information
- Facilitating the dialogue and exchange of ideas beneficial to the industry
- Conducting frequent seminars, workshops and presentations across the country for the benefit of franchise professionals
- Devising and implementing stringent rules to safeguard the interests of the industry and the members
- Creating a repository of academic and industrial resources
- Building specialist franchise education programs, courses and qualification tests for its members
- Publishing periodic statistical insights and industry reviews
- Rewarding the excellence within the industry with annual awards
Who Can Become a Member of the BFA?
All franchise professionals – the franchisors, franchisees, advisors, accountants, lawyers and even banks – can become BFA members. To know more about how you can become a BFA member, please visit this link.
What Does the BFA Membership Mean?
If a franchisor holds the BFA membership, it can tell a lot about their credentials and track record. Buying a franchise, as we have discussed during the course of our free franchising resources, requires franchisees to gather and assess a great deal of information – information that isn’t always readily available. If you are looking to buy a franchise, you can obtain the necessary information about the franchisor and their business from the BFA to help you make an informed decision. As a rule of thumb, buying a franchise from a BFA member often comes with tacit assurances for fair and ethical practices, good standing in the industry, adequate business viability, positive experiences of other franchisees and so forth. It should, however, be noted here that the BFA membership is merely an indication of the legitimacy of the business, and not of the probability of success.
Being a BFA member or dealing with another BFA member in regard with a franchising opportunity also means that you, as a franchisor or franchisee, gain access to franchise finance solutions and loans offered by BFA member banks and private lenders.
To download or refer to the list of all BFA members, please visit this link.
Disclaimer: The BFA is not a governmental or regulatory body. Please visit the official BFA website to learn more. franchise4u is not a BFA member.