The resilience of franchising during the challenges of the pandemic
Last year proved to be challenging for both smaller and larger businesses across the UK with sudden changes in ongoing pandemic restrictions making it hard for businesses to survive.
By Atoosa Gitiforoz
The UK franchising industry though has proved to be agile, innovative and collaborative in its approach to finding new working solutions.
It is worth remembering that franchising has proven time and again a successful model for owning a business. It gives a new business owner the security of knowing that they are accessing a trusted and established brand. It can also take away many of the possible pitfalls of setting up a business on your own. Owning a part of an established brand makes you a part of it, visually and commercially, also bringing economies of scale and support from the wider franchisor network.
Becoming a successful franchise business also requires commitment and a lot of hard work; it is not just an easy business option. It may well require help and support from your own network, be it family or friends, and spending suitable time researching the right franchise for you is very important. This may require you to think about the lifestyle choice which you want and to then find a suitable option which will give you the right work-life balance.
The British Franchise Association (bfa), who have been helping people to make the right choices in franchising for over 40 years, can be a key part of your research process. The bfa has an invaluable role to play in helping you decide which franchise business might work for you. Approved bfa franchisors have evidenced they have a proven business model which can be successfully replicated in another location. Whilst success cannot be guaranteed, a franchise provides a level of reassurance, showing the business model does work.
The bfa is incredibly passionate about building and nurturing a strong, diverse and supportive community, recognising that we are stronger together. The bfa works tirelessly to forge strong relationships through regular member forums, open discussion sessions, educational events, and innovative industry discussions.
Another important requirement is to think about how much money you wish to invest in your own franchising. If you need additional investment again, the bfa can help by pointing you in the right direction to a range of accredited financial franchising specialists and partners.
For more information about the trusted standard in UK franchising, please visit:
Life After the Military
The bfa has produced a free, downloadable guide that explains business format franchising; what it is, how it works and key considerations. This guide is especially designed for those who have left or are leaving the Military.
We have seen that franchising is the perfect fit for many ex-Military personnel. The case studies in this guide show how an extensive set of transferable skills, coupled with unparalleled support and a proven business model to follow is a recipe for success.