Franchises offer a solid business model that comes with established processes, systems, and operating protocols. Starting a business from scratch means you’re responsible for everything, which can be daunting. As a result, startups often take longer to set up and turn a profit than franchises.
The Franchise Business Model Explained
A curious fact is that the franchise concept dates back to the Middle Ages when kings granted rights to individuals to operate markets or breweries. In its modern context, the sponsoring company (referred to as the franchisor) licenses its proprietary business knowledge, processes, and trademarks to a franchisee. The franchisee can then sell the franchisor’s products or services under its name.
The franchisor and franchisee sign a franchise agreement detailing the relationship’s financial aspects. The franchisor benefits from access to a new geographic market, while also obtaining fees from the franchisee, which are agreed in advance in this same contract.
Why Franchises are a Great Business Model
Investing in a franchise comes with a host of benefits. One of the most significant advantages is the instant brand recognition it provides you. As soon as you open your doors, you start benefitting from the popularity and brand awareness already created by the franchisor over the years.
When you purchase a franchise, everything is already set in motion. Your franchisor will provide you with all the tools and systems you need to run your business successfully. This is a win-win situation for both parties involved.
You can learn more about the major benefits of franchising by reading our blog article What to Look for When Choosing an Education Franchise Opportunity in Europe.
What to Watch for When Buying a Franchise
Let’s take a look at some important considerations before you dive into a franchise purchase:
1. Know all costs and fees in advance
Investing in a franchise can be a viable business opportunity, but it requires a thorough understanding of the financials involved. Before committing, take a deep dive into the franchise contract, the franchise disclosure statements, and marketing materials provided by the franchisor to fully comprehend the startup and ongoing costs, as well as potential earnings.
2. Location, location, location
Research the proximity of other franchise locations and inquire about future expansion opportunities. You don’t want to be in direct competition with another franchisee right next door.
3. Ask the right questions
The International Franchise Association suggests a list of questions you should ask before buying a franchise. These include the franchise’s start-up and ongoing operating costs, the expected level of commitment in terms of both time and money, as well as its financial standing and track record with other franchise owners.
4. Talk to other franchisees
There is no better way to evaluate a franchise business opportunity than to research its history with a few of its franchisees who have already been in business for some time. Ask about their relationship with the franchisor, the level of service they get, the quality of support, and anything else that may help you make this life-changing decision.
Franchising in Europe’s Education Industry
In their public statements, the institutions of the European Union recognize the serious discrepancies between what public education provides and the skills and knowledge in demand in today’s rapidly developing world.
As a result, private business initiatives, such as educational franchises, are thriving by filling the gaps in public education. The growing educational industry offers numerous opportunities for aspiring entrepreneurs around the globe. How do you choose the one that is the right fit for you? It all comes down to being aware of what your business needs are, how much you are willing to invest in terms of time and money, and, of course, your willingness to do proper research.
The Science Made Fun Franchise in Europe
High Touch High Tech’s “Science Made Fun” franchise offers unique hands-on learning programs that inspire children worldwide, promoting a lifelong love for learning. Based on the Learning-by-Doing method, our programs provide numerous benefits for child development, including better retention of information, increased motivation, and development of practical skills.
The franchise has a strong brand and reputation, serving over 16 million children annually. Over the years our business activity as a franchise has been recognized internationally, including by winning The Entrepreneur’s “Top Global Franchise Award” for 2022.
With an international presence in 12 countries and a focus on STEM education, our programs are adjustable to any national educational program.
What Sets Our Franchise Apart from the Competition
Our franchisees have reported that our reliable expert support is one of the key advantages of joining the Science Made Fun Franchise. Check out this video to hear what else they have to say about us.
Five Expert Support Teams
As a franchisee, you will have access to the support of five different teams of professionals in the following fields:
- Training: our team will take care of your smooth onboarding and will provide extensive training on how to operate your franchise business.
- Marketing: you will receive professional assistance for your marketing activities, both online and offline.
- Curriculum: we provide our franchisees with access to our proprietary teaching programs and our rich content library. You don’t have to be a scientist to teach the Science Made Fun programs to kids. We provide all the necessary know-how!
- Technology: we provide instructions and guidance on how to conduct all the fun science experiences in our programs and where to find the necessary supplies.
- Staffing: we provide our franchisees with support in finding and hiring employees and in the development of existing employment relations.
With such extensive training and multi-disciplinary support, practically anyone, regardless of their prior experience and career profile, can become our franchisee.
Watch a 1-minute video presentation of the three different franchise packages we offer here:
With its reliable support, reputable brand and strong dedication to your success, the Science Made Fun Franchise takes its rightful place as one of the best franchise opportunities in the field of education.
Get in touch! We will be happy to tell you more about the franchise packages we offer to our European Franchisees and the custom solutions we can fit to your specific needs or situation.
We will be glad to answer any questions you might have and discuss your particular interest in launching your own franchise business in Europe or elsewhere in the world.
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