Why Buy From A Franchise?
“I was going to use them but didn’t when I realised they were a franchise”.
As a franchise lawyer, hearing this from my Dad during a recent telephone call got me thinking about whether a franchise business was a more or less attractive proposition to a would-be customer.
Many of the businesses that we use daily are franchises – High Street brands, which are franchised include Boots Opticians, McDonalds, Costa Coffee, Subway, O2 and Signs Express, with Ipswich being home to many of these most respected franchise brands.
Franchising, where independent business owners are licensed by brand owners to use the name and follow their systems and processes, is an ever expanding sector for the UK economy; contributing almost £20 billion annually. So are consumers spending more with franchise businesses in the knowledge that they are buying from a franchise, or are they simply unaware that a business is franchised? – and if the latter is true, what are the benefits of buying from a franchise such that they are becoming ever more popular?
Competitive pricing – as franchise owners are independent, they are free to set their own prices in line with the local economy and market demands.
Customer service – the quality of service to the consumer is often higher due to the fact that the franchise owner is heavily invested in the business.
National coverage – franchising enables businesses to expand more rapidly, providing the consumer with a nationwide offering.
User experience – franchisees are strictly required to follow approved process which are enforced by the franchisor, providing consumers with the same customer experience wherever they are in the country.
With that in mind Dad, maybe next time you will consider buying from a franchise.
Damian Humphrey heads up the firm’s nationally recognised franchise team and has been awarded the Qualified Franchise Professional qualification by the British Franchise Association.