Buying a Franchise

6. Further Information

If you are seriously considering buying a franchise, gather information from a variety of sources. Aim to know as much about the industry and the market as you would if you were starting your own business from scratch.

6.1 Contact the British Franchise Association (BFA) on 01491 578049.

• The BFA publishes an information pack (£29). It includes a full list of BFA members (franchisors and advisers).
• For further help and advice visit www.thebfa.org, www.whichfranchise.com or www.franchiseadvice.com .

6.2 Talk to your bank.

• Most banks have franchising specialists and can offer information and advice.

6.3 Read the trade press. Publishers include:

• Franchise Development Services (01603 620301).
• Franchise World (020 8605 2555).
• Business Franchise (020 8332 9995).

6.4 Keep an eye on the rest of the press. Many franchisors advertise in the business-opportunities sections of national papers.

• Many of these advertisements are for untried franchises or multi-level marketing schemes, which should be approached with some scepticism.

6.5 Go to franchise exhibitions. There are major annual franchise exhibitions in Birmingham and London.

• The BFA can provide details of specialist and regional exhibitions.

6.6 You may want to talk to franchise consultants. Reputable franchise consultants generally work on behalf of the franchisor to develop the franchise package.