The British Franchise Association (BFA) together with HSBC UK have launched another year of Franchise Awards, celebrating the success of franchisees and franchisors. The entries for the 2018 franchise awards are now open and all franchisors and franchisees in the UK are encouraged to get involved, and take part in the prestigious industry event.
What is franchising?
Franchising in its essence is a partnership between two entities, the franchisor and the franchisee. A franchisor is the person or a group of people who own a company, the franchisee is a person who wants to open a franchise business by using that company’s name. If the idea of starting a business from scratch is intimidating, then perhaps consider starting a franchise business. This article will highlight what exactly is franchising and why it is getting increasing popular.