Growing your business through franchising
Franchising could be the ideal way to expand your business, but it's not something to embark on lightly. So if you're considering taking the plunge, we'll help you decide whether franchising is right for you – and take you through the steps you need to develop a successful franchise network.
Developing a successful franchise needs careful planning, continuous monitoring and advice and support from professionals such as an independent franchise consultant, accountant and specialist franchise lawyer and – of course – the support of your bank.
When deciding if franchising is the right thing for your business, there are a number of advantages and disadvantages you should consider.
Advantages of franchising your business
- Rapid business growth – you can create a number of outlets quickly
- You'll only need a small central organisation with a few highly skilled staff
- Franchisees invest their own money, so they're likely to be highly motivated with lots of local knowledge
Disadvantages of franchising your business
- Developing a franchise network can be expensive, in terms of management time and capital outlay
- Your investment can't be recovered until franchisees are appointed and you receive fees and then a regular income from them
- Because your franchisees are independent, they can sometimes disregard contract terms, try to change the style and direction of your business or even use their in-depth knowledge to set up as a competitor.
KnowledgeCentre
Tools, checklists and practical information to help you and your business in the Knowledge Centre.
BusinessInsight
Growing your business through franchising?
Download our guide (PDF) to help decide if it's right for you and what steps to take.
e-newsletter
Connections
Contact HSBC's Franchise Unit to receive free email newsletters with business features, opinion and advice, plus a monthly franchising article.
Contact Us
Call our franchising team on:
0800 234 6224
For any assistance on your existing account please contact Business Telephone Banking on: 08457 60 60 60 International +44 (0) 1792 491 988
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