Buying a franchise can require a large injection of money, which is why it is important to ensure it is a sound investment as well as an excellent business opportunity.
One clear indicator that a franchise business is ethical and sustainable is whether it is a member of the British Franchise Association (bfa). The role of the self-regulatory board is to shine a light on the best in the business.
etyres is a full member of the bfa. Only franchisors who have passed the bfa’s strict and extensive accreditation process can become a member and this is why its logo acts as a kitemark for ethics, standards and credibility within the booming sector.
Considering businesses with bfa membership, such as etyres, can help potential franchise owners identify the right investment them. It suggests key consideration they need to bear in mind before choosing the right franchise and also publishes a full list of its accredited members.
etyres, which has the distinction of being the UKs first online mobile tyre company, was awarded full membership of the bfa after it demonstrated and provided evidence that it met the following standards:
1. It showed it operates a viable business and that its service is saleable and is at a level of profit which is sustainable for the network of etyres Franchise Owners
2. The knowledge, skills and know-how required to operate an etyres franchise are transferable from etyres to the Franchise Owner
3. The etyres franchise is ethically structured and operates in accordance with the principles covered by the European Code of Ethics for Franchising, focusing on areas such as advertising, recruiting, selecting and handling Franchise Owners
4. All information regarding the business which is material to operating an etyres franchise and its contract is disclosed without ambiguity to prospective Franchise Owners
etyres is actively involved with the bfa and its managing director, Tony Bowman, has qualified as a bfa Qualified Franchise Professional (QFP), which signifies a highly developed level of expertise and experience in franchising and a thorough understanding of its complexities, ethical standards and best practices.
All etyres Franchise Owners are encouraged to become active franchisee members of the bfa, which entitles them to a range of savings and services, including free legal advice, training and skills development and local business development, all of which can help them gain an advantage over competitors.
etyres won the prestigious bfa/HSBC Franchisor of the Year Bronze Award in 2012.