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.