Franchise Key United Kingdom - British Directory for Franchise and Master Franchise Opportunities

This is a complicated question so it is only possible to give a short summary here.

Generally speaking, a “no. 1” location is a location that is suitable for any shop that is aiming to attract the greatest number of customers. The majority of businesses located in such areas tend to sell products such as clothing. These locations are also the most expensive.

As such locations are expensive, some sectors prefer to use different locations, for example furniture shops, restaurants, etc.

Suitable locations can be found:

- via specialist agencies in your town (look at estate agents boards)

- by questioning shopkeepers in the area yourself

- by asking the franchisor in question about the method he uses to find locations

Create your own personal skills profile:   

1. Draw up a table arranging the following into different columns :

• An initial list of your skills and your experience.
• Pencil in an initial estimate of your level of skills. You can always alter it at a later date.
• Underline the areas that you can improve yourself.
• Underline the areas where you need assistance or training.

2. Add in the skills you think are required for a certain network or sector .

3. Your skills profile is now complete. However, you will probably need to alter it as you search for the right franchise .   

Identify other important criteria for your personal profile: 

The following is also important for establishing which franchise is the right franchise for you (draw up a table):

1. What are your preferences / what motivates you?

• regarding products, activities, the importance of personnel, etc.
• you cannot succeed in a job you dislike – especially as franchisees have to work extremely hard to make their business a success.

2. What personal funds can you put towards the project?

• What securities do you have to offer a bank to secure a loan?

3. What is the maximum amount of money you are prepared to borrow?

• (your opinion will almost certainly change as your research continues).

4. What level of support do you have from your family for this project?

5. What level of risk are you prepared to accept?

Look for the franchise that suits you.

Your profile is now complete. You can now start to look in FranchiseKey for a franchise that suits you, i.e. that matches your profile.

You need to carry out a series of tasks to achieve this.

We do not know what your franchise concept is nor whether it is suitable for our markets. However, you should carry out the following:

• study the potential of your concept and the competition in France and Spain

• investigate whether there are any legal, administrative or logistical constraints, etc.

• check the economic feasibility (franchisees’ operating account, etc...)

• study French and Spanish legal standards (EU law plus any country-specific regulations such as the Doubin Law on pre-contractual information = a simplified UFOC) < BR >
• decide whether you wish to use a master, subsidiary, direct franchise, joint venture

• draw up a development and recruitment plan

• adapt the tools to the French and Spanish markets (not just the language but also the content of the manuals, leaflets, etc.)

FranchiseKey is able to help you achieve your goals as it is a joint venture between several different European experts and consultants and we have been active in the franchise sector since 1975!!!

One low-cost way to find franchisees is to use franchisekey.com. Other methods include exhibiting at franchise exhibitions or placing advertisements in magazines.