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Franchising in Hair, and Barbering: Is It for You?

Franchising in Hair, and Barbering: Is It for You? Let's find out

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Franchising in Hair, and Barbering: Is It for You?

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  1. Franchising in Hair, and Barbering: is it for you?

  2. What is a Franchisor? As a franchisor you would allow other people, called ‘franchisees’, to run a business using your trading name, branding and logo. The franchisee would pay you fees and stick to your way of doing business, including the types of service to be offered, marketing activities and administration systems.

  3. Who can Become a Franchisor? You could become a franchisor if you have: • A successful and profitable hair, beauty or barbering business. • Enough money to set up and develop a franchise network. • The business and management skills needed to support your franchisees.

  4. How Does Franchising Work? • The franchisee will usually buy a licence from you allowing them to trade under your name. They will then pay you a monthly fee (often called a royalty). • You must both sign a legally watertight contract which sets out the rights and responsibilities of you and your franchisee. • The franchisee must stick to strict rules that you decide about how their franchised business should be run. This will be set out in the contract.

  5. What Should the Contract Include? Your contract should be drawn up by a legal professional who specialises in franchises. At the very least it needs to include: • The length of the franchise agreement. • How the agreement can be renewed or ended. • How much the franchisor will pay you. • What your franchisor will get in return. • The franchisee’s performance targets and what happens if they aren’t met. • What support you will provide to your franchisee, from help with finding premises and initial set-up to ongoing training and business advice.

  6. What are the Benefits? There are a number of benefits to becoming a franchisee, including: • You’ll be associated with a recognised and successful brand from the start instead of having to build your own brand recognition. • Initial start-up support will help you iron out teething problems and make it less likely that you’ll fail. • The franchisor will provide clear instructions on running your business and ongoing business support such as training and marketing. • You may benefit from the franchisor’s bulk purchasing policies.

  7. Selecting a Franchisor Take your time when choosing a potential franchisor and do lots of research. A reputable franchisor would expect a serious applicant to do this before coming to a decision. You should find out: • How long the franchisor has been in business. • How long they have been in franchising. • If you can speak to any of their existing franchisees to find out more. • How much support and training you can expect, for example, in relation to employment law, health and safety, insurance, and how to comply with local and national laws and regulations.

  8. Contact Us The Ultimate Barber Franchise Phone: 305-592-9229

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