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What are some of the opportunities available to new businesses wanting to take on a coffee franchise in the UK?
Wiki User
∙ 10y ago
New businesses wanting to take on a coffee franchise in the UK can contact already existing coffee franchises in the UK for more information. This would provide them insight in the business.
Wiki User
∙ 10y ago
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Someone wanting to start a new business might very well consider buying a franchise. A franchise is a business opportunity that allows the franchise owner to use an established company's name and business practices and to sell its products. The franchise is sold by the owner of rights in a particular business, along with its trademark(s), trade name(s), and product(s). This is the franchisor. The franchise carries with it the contractual right to use and advertise the trademark(s) and trade name(s), and to sell the products. The buyer of a franchise is the franchisee, and the franchisee will hold those rights. Essentially, a franchise does business under the identity of the parent company, but it is independently owned by the franchisee. The great attraction in a franchise business is that it allows the franchisee to go into business selling products in an established market. The franchisee benefits from the existing demand for the products, and operates a business that approaches going concern status from the start. The franchisee will be relieved of the difficulty inherent in most new businesses of capturing market share. The franchisee acquires these benefits by buying the franchise from the franchisor. The cost of a franchise is the initial franchise fee, plus ongoing service fees. Many franchises require very large investments to start. One of the most famous franchises in the world is McDonalds. McDonalds has been franchising since 1955. To become a McDonalds franchisee, a person must have a minimum net worth of $300,000. There are many companies in many different industries selling franchises, and franchise fees vary with each one. In some cases, franchise fees are only a few thousand dollars. These include various restaurants, service companies, and retail stores. Details about franchising and lists of franchise opportunities are widely published on the Internet. Magazines are also published, and anyone can find information on franchising at the bookstore.
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