If you’re thinking about jumping into the world of franchising, the sheer number of options can be a bit overwhelming. But don’t stress! Visiting a franchise exhibition is a great way to find out more about franchising and start to narrow down your choices.
There are several franchise shows in the UK during the year and one of the biggest is coming up very soon, the International Franchise Exhibition at Excel, London on 11th and 12th April. Elite Franchise are an official partner and plenty of free tickets are available!
Here are some tips to help you use a show visit to help you make sense of all the opportunities available and most importantly, work out if buying a franchise is what you want to do.
Focus on what matters to you
Before the exhibition, think about the questions you have. What’s making you hesitate about becoming a franchisee? What are your worries about the financial side or the responsibilities of owning a franchise?
Do you have an idea of the sort of business you would like to run as a franchise? There is a wide range of businesses available, from hands-on owner-operators to retail outlets with staff. You might want to provide children’s activities, or deliver care in the home, maybe stay in a sector that you know or make a move to something completely new. Franchising offers a huge range of choices.
Franchisors will be assessing you just as much as you’re assessing them, so be open about your budget and goals. Be clear about your skills, experience, and what you bring to the table. It’s not like applying for a job, but you’ll need to show that you’re a good fit for their franchise network and that you’re ready to work hard.
Take time to plan ahead
Before you even step foot in the exhibition hall, take a moment to do some research. The exhibition organisers will usually share a list of franchises which will be appearing at the event. Use this list to figure out which ones you want to focus on. It’s also worth checking out franchise websites and reading up on the sectors you’re interested in. Keep in mind that not every franchise will be at the event, so make sure you have a plan to visit the stands of the key businesses you’re interested in.
Don’t miss the seminars
Exhibitions often feature educational seminars throughout the day, and they’re a goldmine for advice on becoming a franchisee. Make sure you check the seminar schedule ahead of time, as the popular ones can fill up fast. You’ll get to hear from industry experts, including experienced franchisors, as well as professional advisors including funders, lawyers and consultants, so it’s a great chance to get answers to any burning questions you might have.
Take your time – Don’t be rushed
Buying a franchise is a major commitment, so there’s no need to rush. If you feel pressured to make a quick decision, take a step back. A reputable franchisor will understand that you need time to do your research and make an informed choice. Remember, you’re signing a long-term contract, and it’s important to make sure it’s the right fit for you. You won’t be buying a franchise at the show, you will be finding out more and using the information you are gathering to help you make informed decisions.
Take time to reflect
Once you’ve wrapped up your visit, take some time to think about what you’ve learned. Are you still excited about the idea of owning a franchise? The exhibition should have helped you narrow down your options and give you a clearer idea of what you want.
You can start to make a shortlist of franchises you are keen to explore and begin the process of researching particular sectors and franchise operations further. There is still a lot to do before you are ready to plunge in, so take time to make sure you are making the best choice for you.
One final tip from me, wear comfortable shoes and drink plenty of water while you are at a franchise show, it’s going to be a long but very useful day!
