Franchising in the UK is a steadily growing and increasingly well-performing industry, and in 2018, 93% of franchisees reported profitability. When entering into a franchise (becoming a franchisee), you are presented with two options. The first is to open a single franchised outlet, from here you can reap the benefits of a franchise, and either stick with one or choose to expand later on. The other option is to buy into a regional master franchise. This allows you to have full exclusivity of a territory, and open multiple outlets in one go.
Esquires Coffee offers a competitive and fantastic opportunity for regional master franchises throughout the UK. While each franchisor will handle things differently, the following article explains what you can expect from a regional master franchise.
From the very beginning, a good franchisor should provide you with all the information necessary to help you make your decision. While being a worthy investment, it is still essential to ensure that you are making the right choice. From this point, you can establish the level of support, training and contact your franchisor will offer you. Furthermore, a reputable franchisor will have already conducted locational research, meaning your territory will have been assessed for its compatibility before you invest. Esquires Coffee offers a high level of quality support to its master regional franchisees from the start-up, with continued support throughout.
A Proven Business Model
After the initial process is complete, next it will be time to either open a series of outlets or recruit potential new franchisees to open stores. One of the benefits of running a regional master franchise is that you will be profiting from a proven business model. By buying into a successful franchise, many of the risks of starting a business are taken away as the setup is tried and tested, and previous issues have been addressed. What’s more, you will be benefiting from the already established brand awareness.
Develop Management Skills
As you begin to open and manage more outlets and develop your territory, you will be further developing your business and management skills. If you are recruiting franchisees for individual outlets, you will need people and sales skills. As your network grows, you will have to ensure that each outlet is staffed, running smoothly and achieving profitability. With top organisational skills, doing this will mean you are in control of your schedule. Furthermore, your responsibilities as a regional developer will be to market the business and area in order to recruit additional franchisees.
Explore New Locations for Outlets
As the regional master franchisor of a territory, it will be your responsibility to develop extensive local knowledge to identify potential new locations for stores. A reputable franchise will assist you when assessing new areas, but ultimately, it will be up to you to decide. Things to consider when selecting a new location are:
How accessible is it?
What is the footfall like? You can assess how visible the outlet is from the street, or if it’s on a busy high street or in a popular shopping centre.
What are the demographics of the area?
What other businesses are nearby? Are there lots of competitors? It can also be wise to inspect the quality of the surrounding companies. If they are popular and reputable, this will aid footfall.
Are there any planned construction projects locally? It can be a perceptive decision to open an outlet in an area where extensive development is planned. While the footfall of the area may be initially quiet, this may mean rental rates will be cheaper. Once complete the area will become much busier.
With a regional master franchise, expansion comes naturally. In addition, developing a franchise strengthens the brand and as a result, improves the profitability of outlets. Successful franchisees can expect to see a faster growth rate when compared to an independent start-up.
If you are an investor and are ready to make a life-enhancing business decision, Esquires Coffee offers a regional franchise license. A well-established brand, Esquires Coffee offers fantastic buying power paired with an ethical ethos and a sustainable business model allowing you to create a successful and profitable territory. For more information on regional master franchises, fill out this form for further details.
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