BRAND PROFILE
[ THE AVANTI GROUP (UK) FRANCHISE LTD ]^
FINDING A
FRANCHISE
THAT FITS
Victoria Sharp (FMAAT), Managing Director of The Avanti Group (UK)
Franchise Ltd, explains how to find the right franchise for you
Y
ou’ve decided you want
to take on a franchise, but
you don’t know where to
start. Here are my top tips
on how to find the right franchise for
you, including what to look out for as
you go through the process:DO YOUR RESEARCH
It does not matter where you have
identified your potential franchise
opportunity, you alone are solely
responsible for the due diligence before
you invest.
Start by reading the website and
the franchisee Prospectus, to find out
important details about the franchise
company, as well as the initial fees,
investment and obligations.
Attend Discovery Events or 1-2-
1 meetings to really understand what
is provided to you and expected of you.LOCATION, LOCATION,
LOCATION
One of the toughest, and most
important decisions a franchisee will
make is choosing a location for their
new business.You’ll need to understand your
target market and the local business
community. Consider details like
traffic patterns, parking, nearby
stores, local competitors and check
with the franchisor whether you’ll
be guaranteed a protected territory
(ie, no other franchisee in the same
trade can open within a certain
radius).SPECIALIST SOLICITOR
CONSULTATION
You should consult an independent
solicitor, preferably one who
specialises in franchise law. They
should review your Franchise
Agreement, identify any potential
red flags and advise you on your
rights.
Given the size of the investment
you’ll be making, it’s prudent to pay
for a professional legal advice at the
beginning.DOES THE FRANCHISE
HAVE PROFESSIONAL
ACCREDITATIONS?
Is the business accredited with the
British Franchise Association ( bfa)?
This is a mark of quality for
ethical franchisors, who are
assessed against a strong code of
ethics.DO A COST/BENEFIT ANALYSIS
Make an old fashioned list of pros and
cons. Drawing a line down the centre
of a piece of paper, on one side write
the benefits, eg established brand,
proven market, industry experience,
training and support.On the other side, list the costs
and liabilities, including the ongoing
franchisee fee, and see if that
highlights areas for consideration,
further investigation or helps you to
make the decision to go ahead.THE CORE QUALITIES OF A
GREAT FRANCHISEE
When you’ve decided on the best
franchise for you, it’s now about
showing how you can be a great
franchisee. As an example, here’s
what we look for in franchisees:
Approachability. Not all
accountants are boring and grey and
Avanti accountants break the mould
with their friendly, colourful, jargon-
free approach.
Our 15-point culture statement is
at the core of our company and is at
the centre of all we do. We want our
franchisees to break the mould and
make a difference to the businesses
they work with, instead of simply
crunching the numbers.
Excellent judgement. It goes
without saying that as bookkeepers
and/or accountants our franchisees
should possess excellent judgement
skills. However, working from a
proven model doesn’t mean they
can’t take calculated risks.
The Avanti Group (UK)
Franchise Ltd is here to support
our franchisees and provide them
with all the tools they need for
success, but we also want them
to seek out opportunities and use
the tools, combined with their
own judgement, to grow their
businesses.