I am considering a franchise option. My question is this. We currently rent a property, but would ideally be aiming to buy a house within the next 12 months. Will a mortgage lender recognise a franchise as a salary, as it would a standard job? I have heard stories in the current climate about banks not giving mortgages to borrowers who run their own businesses, and I want to know if being a franchisee would fall into this caveat too?
I have been looking a various 'work-from-home' opportunities for a little while. I came across a franchise over the weekend and have got myself rather excited about taking serious steps into signing the dotted line. I don't know much about franchises other than the fact that it's usually a well established company/ business and has completed a business plan, but does a franchise have to be registered with the British Franchise Association? And what protections, if any, do I get as the franchisee if they are not registered?
What should I look out for when thinking about buying in to a franchise? If there is a franchise of the same organisation in my area then would it be wise to try to set up in the same area? How would it work out?
I already run a franchise and this is going quite well, but I also have an interest in music and have seen a franchise opportunity for teaching music to toddlers. Can I own more than one franchise?
I am thinking of buying into a language teaching franchise, but I am a bit unconfident about my ability to market my franchise locally. I know the franchise provides some support, but is there any other marketing support available?