Mark Scott, the franchise director for NatWest and RBS, talks about franchising and why it may be a safer start-up option in the current economic climate. He discusses everything from the type of person franchising is suitable for, to  where you can find franchising opportunities to consider. From a banking perspective he claims that banks are more likely to be open if you are looking to be a franchisee. This is simply because a franchise usually has a proven track record, with numerous other locations replicating success. Therefore the investment is a lower risk.

The average franchise fee in the UK is around £15,000 according to him, a fee that should simply cover the cost of setting you up in business. There should be no element of profit in this fee. The profit comes in the form of ongoing fees agreed at the outset. This is usually a turnover fee, commonly at around 8%.

More information can also be found at the British Franchise Association website.

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