Nationally known, locally owned. That’s how we like to summarise franchising.
We Love Pets is a company that exists around the country, north to south and east to west, but each branch is entirely run by local individuals that offer their unique skills and services—because of this, buying a franchise makes a brilliant alternative to starting your own business. You get to use the features of a well-known company in your business growth. It means that while you work on running and improving your own business, you have an already successful company supporting you the entire time, which you don’t get when starting from scratch.
Franchises work by a franchisee purchasing the rights to use the brand’s name, business model, marketing skills and other company-specific things. Franchisee and franchisor work together to improve the company constantly, it benefits both parties for each business to do well, so support and advice will never be too far away.
Things to look for in a franchise agreement
Your franchise agreement is a legal contract like any other- it sets out the rights and obligations of franchisee and franchisor as they enter that relationship. It is legally binding so you must pay attention to what it talks about. Read it thoroughly and take any legal advice from a professional before signing anything.
Pay attention to the length of the agreement. See when your fixed term contract ends, and make sure you know how and when you should renew your contract if you wish to. You may be able to negotiate the time depending on your franchisor.
A franchisee has the right to sell the business, however the sale will be dependent on whether your franchisor approves of the buyer. They have a final say on any sale, but the franchisee is the one that must sell the business. There will likely be requirements and criteria you must hit to be allowed to sell the business, so make sure you check your contract for those!
You should be given a specific territory, so always check where that territory is and where its boundaries are. Don’t solely consider size, but think about whether it is suitable for your business.
All fees and charges should be clear in the franchise agreement, and there shouldn’t be any surprise charges after you sign the document. Typically there are franchise fees, royalty fees and contribution to marketing, but that is different with all franchises, so make sure to check the contract.
Franchising Vs Going it Alone
Publicity: With a franchise, you are backed by an existing brand with a loyal customer base, an admirable reputation and a solid online presence. When starting a business from scratch, you have to work harder to build a reputation which costs time, money and energy. Website agencies can be around £3000-£20,000 to set up a site. Not to mention the added costs of advertising (agencies are at least £800 a month, and Google Ads cost more than £7000 a month on average).
At We Love Pets, our head office team create your website for you, and with our social package, you can benefit from some of our high-quality social posts (free for you first year then only £150 a month, including VAT). Our branding is recognised around the country, so simply by having our name, you will gain loyal customers and popularity!
Efficient Launching: Starting a business from scratch means you will likely have to use personal loans or savings, so launching your business can take time. Without the support of an already recognised brand, it can be difficult to make yourself stand out, and it can become tough to keep up the funds. On average, a new small business spends £22,756 in its first year. Because of money, it can be difficult to launch your business, and you never know when you will be able to start working. As a franchisee, you will have an efficient launch since your franchisor will set you up immediately on your course for success!
We Love Pets has pre-approved funding, meaning that your loan requests are more likely to be accepted on the assumption that you will follow the existing business path. Our head office staff can provide you with an immediate online presence with a website, and you will receive marketing, uniform and leaflets when you join the team. Everything needed for your success is there for you to take and make use of.
Reach Your Potential: In a franchise, you are shown how to understand data and look into the future of profits and business growth goals. Without the professional advice of a franchisor that has already succeeded in supporting countless other franchisees, you are playing a guessing game with your career, and you can never be sure that it will work out.
At We Love Pets, you have a business model to follow that has already been successful for hundreds of branches before you! We provide business training to help you get ahead, data insights into the financial potential and supported growth goals and targets. Our head office staff are constantly looking into ways to improve your business.
Become Part of the Family: When you start a business of your own, you are entirely on your own, you don’t have the support network of people in the same situation as you, and without this support, you can easily become overwhelmed. As part of a franchise, you never have to face challenges alone; you will always have someone to talk to and support you through any hardships. Whether you need help understanding why you’re not gaining any customers and need head office to help, or you want advice from a franchisee. In a survey of 200 small business owners, 92% of them said that their businesses would not have been as successful without having someone there to help guide them along the way, which is why having that network is so beneficial.
We Love Pets don’t only suggest you make friends with your fellow franchisees; we actively encourage it. Whenever you have questions or queries about something, we use a messaging tool that allows you to ask individual people in the network or ask the greater audience. There will be numerous people happy to help you find an answer, and if there is something that multiple people are having problems with, our head office team will pick this up and can provide better training to deal with those issues. Everyone wants to support you throughout your journey, and we will always listen to you.
Training: As a franchisee, you are provided all the training you need to succeed before you start working. You will be given all the skills you need, shown how things work in the franchise, and as long as you pay attention, you will have all the tools to start up as soon as possible. On your own, you would need to be looking up qualifications and learning things yourself which can slow the process of getting your business running and add extra costs. A professional marketing course, for example, might set you back more than £1500.
At We Love Pets, we organise a few days of franchisee training when you first set up where you join us at head office, and our staff will show you the ropes of everything you need to know about our company. We have also built our very own – first of it’s kind – learning management system (lms), novabright, with bundles of courses relating to pet care and business available to our franchisees. The head office team are all professionals in their field and can teach you how to use the tools available to you as efficiently as possible and in a way that will only bring you benefits! From how to find data and trends that will boost your business to how to get your social media page booming, you will receive top-notch training on it all. Not to mention our online training courses on everything pet care that makes sure you are in the best possible situation to provide care for pets.