Those who live in the West Midlands area might be interested to know that the National Franchise Exhibition is due to kick off tomorrow at the NEC in Birmingham and will run till the 6th October.
The expo is supported by the British Franchise Association and will feature over 150 exhibitors, including some of our partners at Franchise Direct:
· Driver hire
· Signs Express
· Cruise Holidays
What you’ll find at the expo
The expo is your chance to speak to a range of people within the field of franchising, including franchisor brand representatives, successful franchisees, finance professionals and legal experts. It’s also a very useful way to get all those burning franchise questions answered under one roof. There will also be a business plan clinic for those who are at the crucial first stages of franchise applications. A number of franchise seminars will take place to inform and educate prospective franchisees on subjects like choosing a franchise, and becoming a franchisee after redundancy.
What to bring to a franchise expo
Franchise expos can be busy affairs, so it pays to arrive early. To make sure you’re fully prepared, here are some items you should bring with you on the day:
· A list of the franchises you’re interested in speaking to
· Questions you’d like to ask franchisors and franchisees
· Questions for finance representatives and other consultants
· A notebook to jot down all the information you’re given in seminars and during conversations with exhibitors
· Your phone or address book to store any useful contact details you’re given
Questions to ask a franchisor
To get you started, here are some of the initial questions you should be asking a franchisor on the day:
· How new is the business? How many franchisees are there already?
· How strong is the brand? Who is the target market?
· What skills and attributes do I need to run this franchise?
· What is the initial investment requirement?
· What financial information is disclosed up front?
· What is the ongoing franchise fee?
· What support is provided by the franchisor?
· Can I speak to any existing franchisees?
Good luck! Remember, if you can’t make the Birmingham franchise expo, you can always use a directory like Franchise Direct to find franchise opportunities all over the UK and request further information.