How To…. Utilise your time at a Franchise Exhibition

Each year across the United Kingdom there will be numerous franchise exhibitions taking place, which provide prospective franchisees (visitors) with a valuable insight into available franchise businesses and current trends within the exciting and ever-expanding franchise industry.

Franchise exhibitions give you the platform as a prospective franchisee to truly understand which brands are actively recruiting within the UK. Franchise Exhibitions can however be somewhat daunting, and the size may prove rather difficult to navigate around. That’s why we’ve put this piece together to ensure you utilise your trip at your chosen franchise event.

Undertake the necessary research prior to attending

Undertaking research is one of the easiest ways to ensure you utilise your trip to your chosen franchise exhibition or event. There are many franchise websites (like Franchise Supermarket) and publications to understand what types of franchises and concepts you are interested in. The exhibition organisers will have websites live detailing those brands exhibiting in more detail as well.

Once you’ve undertaken your franchise research, it’s then best to shortlist the franchise opportunities that you want to approach at the franchise exhibition. Whilst putting the shortlist together it’s a good idea to see which brands suit with your skillset, personality, experience and aspirations. On top of this, if the investment level is within scope, then go and talk to them to find out more. You may even be able to schedule in a slot prior to the show commencing. This will reduce the chances of you timewasting and wondering around not knowing who to speak to.

Plan your approach with the Franchisor

Franchise exhibitions and events provide you with the opportunity as a prospective franchisee to meet the representatives of your chosen franchise in person. At this vital stage of inquiry, it will give you a better understanding of how the franchise represents itself to the public and how they sell their offering. Please also remember that they will be conducting the same analysis as you, to see whether you’re appropriate for their franchise, so it’s imperative that you give a good impression of yourself.

Therefore it’s vital that you have a concise idea of what information you want to gather from meeting franchisors at the franchise exhibition and prepare a list of questions you require answered. As mentioned previously, this is a two way conversation and you need to be prepared to answer questions from the franchisor as well, such as..

• • Do you have capital available to purchase the franchise? If not, will you be accepted for funding?
• • Do you have the personality to operate within their franchise network and follow the procedures that have worked so well?
• • Are you serious about this investment?

Sit in on Franchise Seminars and talks

The big franchise exhibitions will include Franchise Seminars and talks that are free for you to enter and absorb from. These franchise seminars will provide a vast amount of information on the industry and give you a real insight into the specific sector/or franchise sector as a whole.

Franchise Seminars will also include Q & A panel events from current franchisees, so you can listen to their experiences and how well the franchise is working out for them. Remember, they were once in your shoes! On top of this, Franchise Consultants, Lawyers and representatives from High Street banks will give talks on the procedures you need to follow, what documentation you need to check through and how they assess your criteria for funding.

Don’t be impulsive

Most franchisors attend a franchise exhibition to gain interest in their business concept and as a result most will view a significant number of quality leads as a good return on the time and money they have invested in the exhibition.

Despite this there will be some exhibitors keen to make sales on the day, which combined with the number of quality franchise concepts on display, can make it tempting for prospective franchise owners to sign up there and then. However, is it usually wise to walk away to give yourself time to think away from the ‘sale’ atmosphere of the franchise exhibition.

Review your research

Attending a franchise exhibition will give you the opportunity to meet representatives of the brands that you are interested in exploring further and it will give you a chance to question franchisors face-to-face. By the end of the franchise exhibition experience, you should be returning home with a bag full of brochures and promotional literature, as well as having some idea of which brands and franchise sectors have impressed and those that didn’t.

Review all of the franchise literature that you’ve collected and ask to speak to current franchisees on the phone, maybe go visit them to experience first-hand how they work.