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Types of Franchise Business

There are many different types of franchise available covering many different industries. See our Choosing a Franchisesection for tips and advice about finding the best type of franchise for you.

Retail Franchise

Retail franchises tend to be popular high street chains that provide either products or services to usually ‘walk-in’ customers. A good high street location plays a bit part in the success of such franchises as a busy or popular site is necessary for customers to visit the store, and this is how most turn over is generated. Retail franchises often require set business hours in line with other stores, and may involve long days and weekends. Many retail outlets also need members of staff alongside the owner of the franchise to operate the store and sell the products/perform services. One major factor in running a retailfranchise is that it requires lots of customer interaction, and therefore excellent customer service is a high priority.

Management Franchise

A Management franchise tends to include office based work, and will include working closely with businesses and organisations to provide either a service or product. This type of franchise is best for those with management experience and the ability to work with a number of staff. Most business with a Management franchise is between businesses rather than the general public, but some franchises to also deal with members of the public. A management franchise often requires skilled staff with experience in administration and dealing with clients to ensure that businesses use a franchise and guarantee a set amount of business. Management franchises also require some marketing skills to create interest in the services offered to potential business clients.

Single Operator Franchise

A Single Operator franchise can take two forms. Both involve the selling of a product or service within a particular trade and require some degree of marketing to ensure that the public are aware of the services or products offered. One type of Single Operator franchise involves being out and about with the public to provide a service, such as car valeting for example. In this case the owner of the franchise will operate from their own van and provide valeting services to all customers under the banner of a trademarked name. The Franchisor will often supply all trademarked items including equipment, uniforms and vehicle branding. Such franchises also require a flexible work pattern to ensure that the service is available when the customer requires it. Another form of Single Operator franchise involves working directly with businesses rather than the general public. This usually only involves working standard office hours, and although the franchisee should be mobile most work can be carried out from a home office.

Investment Franchise

An Investment franchise often involves investing large amounts of money into Business & Finance franchises without working directly within the business. The franchisee will employ a team of managers to ensure the smooth running of the franchiseand will not have to work there themselves.

Source: http://www.thefranchisebusiness.co.uk

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