You may be asking yourself what the difference between investing in a franchise and starting a business from scratch is. In its simplest form investing in a franchise means that you can really hit the ground running as someone else has already ironed out the business formula.

Your franchise fee is buying you access to decades of industry experience and expertise which include a proven business model, recognised brand name and an established Head Office team offering day-to-day support and help to ensure your franchise grows and succeeds.

Want to learn more about becoming a franchise owner? Use the links above to read more about the advantages of buying a franchise and how to choose the right franchise for you.

franchise ownership can provide the perfect vehicle for achieving financial success, read our success stories to see why our franchise owners decided to be in business for themselves but not by themselves.

etyres is a full member of The British Franchise Association (bfa)

etyres is proud to be a full member of the bfa which is widely regarded as the voice of ethical franchising in the UK. 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 sector.

As the only voluntary self-regulatory body for the UK’s thriving franchise industry, the bfa shines a light on the most ethical and sustainable franchise businesses, which in turn helps potential franchise owners make the right investment in their future.

Why bfa membership is important

The bfa was formed in 1977 by a group of major franchise companies in the UK to act in the interests of the industry as a whole. It set out to assess and accredit franchise companies in areas such structure of the business, terms of contract between franchisor and franchisee and success as a franchise.

To secure membership of the bfa, franchisors must demonstrate and provide evidence that they meet the following standards:

  1. The business must be viable. Evidence will show that the product or service is saleable, and is at a level of profit which is sustainable for the network of franchise owners
  2. The knowledge, skills and know-how required to run the franchise must be transferable from the franchisor to the franchise owner
  3. The franchise must be ethically structured and operated in accordance with the principles set out in the European Code of Ethics for Franchising, which addresses areas including advertising, recruiting, selecting and dealing with franchisees
  4. All information on the business which is material to the franchise proposition and contract is disclosed without ambiguity to prospective franchisees

How the bfa can help you make the right choice

Along with promoting sound franchise businesses, the bfa also endeavours to guide prospective franchise owners and help them make the right choice when they invest in a franchise. The bfa suggests key considerations you need to bear in mind before choosing a franchise and it publishes a full list of its accredited members.

Becoming a franchisee member of the bfa

The British Franchise Association (bfa) was formed to act in the interests of the franchise industry and ensure the highest possible ethical and best practice levels are maintained by all Franchisors.

etyres have achieved full member status as an organisation, however franchise owners are also encouraged to become active franchisee members as well. Joining the bfa entitles franchise owners to a range of savings and services including free legal advice, training and skills development and local business development. These educational resources and advisory services mean that etyres franchise owners can make full use of the bfa’s wealth of knowledge to help them gain an advantage over competitors.

Customers are looking to use reliable and consistent businesses that offer good value, and by aligning yourself with the bfa you are reassuring customers that you are upholding the highest ethical and quality standards.

The advantages of joining a franchise

Starting a business can be a daunting prospect, but joining a franchise means you enjoy a host of benefits which can dramatically increase your chances of success.

These are just a few of the advantages of joining a successful and pro-active franchise:

Less risk – statistics show that Franchise Owners stand a better chance of success than those who start their own independent business from scratch

Growth potential – you are able to grow faster because the business is already established

Brand awareness – you will be using the franchisors good name, know-how and products or services to increase your business success

Training and support – a good franchise provides a comprehensive training and support programme, this means you will receive thorough training and on-going help with all aspects of running your new business rather than having to learn by your mistakes

Investment in the future – you will enjoy the benefits of research and development projects which will be set up and introduced across the network

Marketing benefit – you will benefit from a group marketing fund which will be targeted at building brand awareness and boosting sales through campaigns and initiatives

Strong buying power – you will benefit from enhanced purchasing power thanks to being part of a large nationwide network.

Franchise sector grows to record heights

Franchise businesses across the UK have reported record highs in turnover and full time employment, according to the 2013 NatWest British Franchise Association Franchise Survey.

The research, which has analysed the five years since the country entered recession in 2008, shows 20% growth in the sector compared to a 2.5% contraction in the overall economy during the same period. It also reveals that 92% of Franchise Owners reported profitability, including new businesses.

These impressive statistics reinforce the fact that the franchise industry offers exciting opportunities and delivers impressive results for motivated and committed people.

Choosing the right franchise

People buy into franchises for a variety of reasons. In order to find the best business franchise for you, you must assess your own skills and experiences. Once you have identified what is important to you then you can take the next step and select the franchise type suits your strengths and needs.

Which franchise is right for you

It is important to consider these three key points:

What skills and experience do I have?
Draw up a list and ask yourself if you can apply them to your ideal franchise. Consider such things as whether you are a hands-on person, if you like to sell, are you committed to customer service and whether you have good management skills.

Where and how do I want to work?
Consider whether you would be happy working behind a desk all day or does a life on the road appeal more to you. Is it important that your business is situated close to your home and would you consider re-locating?

What do I enjoy doing?
What are your hobbies and interests? Do any of these fit with the franchise businesses you are considering? For example if you are interested in motor racing would you enjoy the chance to work in the automotive industry

You must be totally honest with yourself because the answers will help to determine whether or not you make the right choice for your future.

Does my franchise guarantee success?

A good franchise will provide you with the foundations and support you need to launch and run a business that has been proven to succeed. However, no one can guarantee success.

You must therefore consider these points before investing in a franchise:

Strong demand in a tough economic climate – is there a strong demand for its service? Will the demand remain even during tough economic climate? A full member of the British Franchise Association (bfa) will have demonstrated that it has survived during recessionary times.

Investment in the future – is the franchise committed to investing money and effort into technological advances, new initiatives and growing the network in order to keep the business at the forefront of its industry?

On-going business support – a good franchise will offer you advice and support to help you to overcome any business problems or pitfalls you encounter.

How to choose the right franchise

Just as launching a new business can be daunting, so can choosing the right franchise for you.

13 important questions to ask a franchisor

To help you make up your mind you need to put these 13 key questions to any franchise business you are interested in and carefully consider the answers before making a decision which will change your life.

1. How long have you been franchising and what are your personal credentials?
etyres has been franchising since 1995.

2. How many franchised businesses are you currently running?
etyres currently has 42 franchise owners.

3. Can you help me prepare a business plan and apply for funding from a leading bank?
etyres will help you write a business plan and guide you through the finance application process.

4. What is the full cost of your franchise? Will you set out and supply a breakdown of all the costs necessary to launch the business?
The start-up cost is £26,000. This includes the £20,000 initial licencing fee and £6,000 to cover van deposit, marketing materials, computer equipment, uniform and training. A full breakdown of start-up costs will be provided.

5.What does the initial franchise fee and the continuing management fees cover? How are the fees calculated?
The etyres franchise fee covers training and a five year license to use the brand name and associated collateral. Continuing management fees are calculated at 6% of monthly turnover and cover operational costs.

6. What marketing collateral do you supply and what do I have to pay for it?
As part of your start up pack you will receive 25,000 leaflets, 1,000 business cards, and branded uniform. You will also have access to a regional promotional kit containing an A-board and gazebo.

7. What is the extent of the training I will receive? Does it cover all aspects of the business including practical and core business skills?
etyres franchise owners benefit from extensive initial and on-going training, read about our training program here.

8. What level of on-going support is offered? How would you help if I ran into operational problems, which I could not solve? 
etyres franchise owners receive ongoing support in all areas of the business from a dedicated Head Office and Operational team.

9. Do you encourage franchise owners to communicate with each other? If so how do you arrange this? Do you publish a newsletter or organise regional meetings?
etyres produce regular updates to keep franchise owners and head office staff up-to-date on the networks activities. There are also annual regional meetings that are attended by franchise owners and members of the senior management team.

10. What trends do you see emerging that could have an impact on the business in the next decade and what are you doing to meet these challenges?
A focus on customer convenience means that the demand for mobile services is continuing to grow. High street competitors have started to offer a mobile tyre fitting service, however this does come at a premium to the customer. We continue to meet challenges such as these by standing by our mission statement and refining our service offering.

11. Is the company a full member of the bfa? If not, why not?
etyres is a full member of the bfa, to find out more about why this is important to us click here.

12. What is the length of the franchise agreement? Can it be renewed?
An etyres franchise agreement lasts for five years and can be renewed.

13. Can I re-sell my franchise?
Yes, we do allow for franchise resales

The answers will reveal your ideal franchise

The responses to these and any other questions you ask will reveal a lot about the values and ambitions held by the company. You need to marry its outlook with your aspirations.