Local Franchise Opportunities in Nottingham
Why should I choose Nottingham as the Franchise territory for my prospective launch?
So, you sort of know what franchise sector you want to dive into, but you’re not entirely sure on what brand it is you select. This is a big decision to be made, will one brand offer better potential income but less support, does one brand offer exceptional support and training but the potential income isn’t as great as it’s competitors and whether the brands are accredited with recognised bodies such as the bfa. Conducting due diligence on what franchise to select isn’t the only careful research that you have to consider. Concluding on what potential franchise territory to opt for is also just as important.
That more established franchise brands will have/should have franchise territories already mapped, so it’s not a case of you choosing your own boundaries and what plot of land you want to call yours. There may however be a territory that offers more potential than the territory that you live within, so you need to consider whether commuting is an option to ensure you’ve truly got the best deal! Franchisors with a much smaller network who are seeking to expand may be inclined to adjust territories slightly and give you a little more than they usually would, as they’re in a position where they need to establish their network for two reasons. The first reason being that of prospective franchisees are more likely to buy into a proven network that can clearly demonstrate a track record of franchisees succeeding (the best testimonial for any franchisor) and secondly, the quicker the franchisor establishes his network, the more funds he will generate through your own success. Franchising is a win/win for both the franchisor and franchisee as you both harbour the same interests to succeed. It is key to note that Franchisors are reluctant to just accept anyone and everyone to establish their network in a timely manner as this could serve up serious repercussions with franchisees underperforming and tarnishing the brand/reputation that the franchisor has built up.
Travel Links within the franchise territory of Nottingham
Nottingham should be considered as a potential franchise territory to launch or expand your franchise within as it has fantastic travel links to help enhance your business offering. Nottingham is placed close to the motorways of both the M1, M42 and the A1, gaining access into and out of Nottingham simply couldn’t be easier. To top this, the transport links within the city of Nottingham is set to be renovated with a spend of £800m being invested in current inner-city congestion issues and for the city to be connected to the new high-speed rail link by 2023. Nottingham also presents the opportunity to take advantage of visiting to international destinations/other major UK Cities via flight as the East Midlands airport is only around 27 minutes away from the city centre. Prospective franchisees can also commute to London via train within two hours as well.
Finding Staff to help support my franchise development
It’s well known that Nottingham is seen as one of the UK’s most vibrant university cities and is home to two different institutions in the University of Nottingham and the Nottingham Trent University. The University of Nottingham is one of the top ranked universities within the UK and presents you as a prospective business owner the opportunity to source staff from a varying pool of talent from both universities. With this, both universities offer support networks to businesses and franchises looking to launch within the franchise territory of Nottingham and to ensure they have all the tools to succeed within this area.
Access to support for my franchise launch in Nottingham
Aside from the support from both universities, there are to funding support networks in the form of Nottingham Investment Fund and the N2 Business Growth Programme that helps support varying businesses with funding to help with their differing needs.
There is also the £40m Foresight Nottingham fund that is available to businesses and franchises within this franchise territory and it provides up to £2m for projects that will help create jobs and attract outside investment into the territory.
There is also the creative Quarter Loan that will provide loan amounts from £500 to £25,000 at a rate of just 6% with an accompanying 2% arrangement fee to new start-ups existing businesses located within this area. Could your franchise benefit from this?
Premises to launch your franchise within Nottingham
When choosing Nottingham as a potential territory to launch your franchise, it’s important to look at where you can base your business within the territory.
The University of Nottingham presents an opportunity for businesses seeking either laboratory or office space. This complex also offers additional space for networking and the potential for collaborating with leading students and staff members from the university.
Other business parks include;
- -Nottingham Business Park
- -Sherwood Business Park
- -Nottingham South and Wilford Industrial Estate
- -Bar Lane Industrial Estate
- -Trent South Industrial Park
Please click here to view franchise opportunities in Nottingham