If you're a follower of Platinum Wave on Facebook, Twitter or Linked In, you may have noticed we have been running a series of educational A - Z Franchising posts. These range from information about International Franchising to Franchise Recruitment and everything in between. After all, we are experts in all things franchising, so thought we would put our knowledge to good use and create the A - Z of Franchising for all you aspiring franchisees and franchisors!
See the second part of our series below, going through letters J - Q. We hope you learn a thing or two!
J is for joining a network of like minded people
When you a join a franchise, you are entering a supportive business network in which everyone has the same vision in mind – for the business to flourish!
K is for keeping in touch
We want to keep in touch with you! If you would like to have the latest franchise opportunities, news, updates and exclusive invites sent direct to your inbox, sign up to our e-newsletter here.
L is for Licensing
Not to be confused with franchising, although similar in many ways. In simple terms, licensing grants you permission to use a trademark or brand name for a period of time, whereas franchising is the precise replication of a proven business model and the setting up of a business that you as a franchisee own.
M is for Master Franchise
Master Franchising involves the granting of rights by a Franchisor to a Master Franchisee, to operate a brand within a specified country or region, and the opportunity for the Master Franchisee to then franchise to others within that territory.
N is for 'Not for Everyone'
Franchising can open a world of opportunities if you have the right determination, work ethic and passion. However, it is not for everyone. Why not come along to one of our free franchise seminars to discover if franchsing is for you? Get in touch to find out when our next one is, or check out events page here.
O is for Opportunities
The UK workforce in the franchising industry has increased by a massive 70% in the last decade. Opportunities within franchising are only on the rise, and there are some fantastic opportunities available for the right people across the UK. We have opportunities ready across various industries including food, care, business services and more. View our current opportunities here.
P is for Protected Territory
A protected or exclusive territory is when a franchisor agrees to not open any other franchisee units within a certain geographical area (their territory), to avoid unbeneficial competition for that franchisee.
Q is for Qualified Franchise Professional
QFP is the formal recognition of professional knowledge and experience in the franchising industry. Our Managing Director, Suzie McCafferty (QFP), is part of an exclusive group of Qualified Franchise Professionals, with only around 150 professionals having achieved the status so far. Being a QFP is a mark of excellence within the franchising industry and is certainly an important factor to consider when choosing a franchise consultant.
Keep your eyes peeled for Part 3 of A - Z of Franchising, coming soon!