15 December 2014
The NHBF’s first “Discover Franchising” business event was a roaring success, members have said, and more will be arranged for 2015.
The event, run in association with Franchise Finance, was designed to help hairdressing salon and barber shop owners find out all about franchising and how it might help them expand their businesses.
The events are also designed to complement the NHBF’s new guide, Franchising Your Business.
Franchising is when a business (a franchisor) sells its name, brand and operating model to an individual (a franchisee) to set up and run, with the franchisee also paying an ongoing fee or royalty in return.
The event in London explained to salon owners what franchising is, the steps you need to follow to be successful and who to turn to for help.
One owner who attended the event, Jason Liddiard, who runs Jason Liddiard Hairdressing in Rainham, Kent, said: “We are looking to expand, and exploring various options, one of which could well be franchising. The whole day was brilliant, very concise and clear, especially in explaining both the benefits and potential pitfalls.”
The NHBF’s guide, Franchising Your Business, is available for members to download free of charge, and sets out practical tips and advice including:
• What franchising is and how it works
• How to decide if it’s right for you
• First steps
• How and when to use specialist franchising solicitors and agents
• Business planning and finance
• Training and equipment
• Recruiting and supporting potential franchisees
• How to make it work for the long term
NHBF chief executive Hilary Hall said members and non-members should watch out for more Discover Franchising days during 2015.
The positive feedback we got from the event, and the response we have had to the guide, tell us franchising is something salons want to know more about.
“Franchising can help a business to expand but as a model it doesn’t suit everyone. That’s why it makes sense to do as much research as you can in advance. Our ‘Discover Franchising’ days and our guide can help salon owners ensure they go into franchising with their eyes open, understanding both the opportunities and the challenges.”
Information about future Discover Franchising events will be posted online at nhf.info/events.