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A Guide to Buying a Business-Format Franchise
A business-format franchise is a licence granted by an existing business ('the franchisor') to another business or person ('the franchisee') that entitles them to operate under the branding and business model of the franchisor, and to sell its products and services.
It typically involves close and ongoing collaboration between the franchisor and the franchisee under the terms of a franchise agreement.
There are over 930 individual franchise schemes currently operating in the UK. The number of franchised business units is increasing, and in 2018 there were almost 50,000. Growth is strongest in the personal services sector and the hotel and catering sector.
This factsheet provides an introduction to the issues involved in buying a business franchise. It explains the basics of the franchising process, looks at how to choose a franchise and a franchisor, and outlines what is involved in a franchise agreement, as well as providing hints and tips and sources of further information.
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