Whatever you’re looking for, London is the place to look. The British capital has become one of the most visited cities in the world for various reasons. London welcomes an increasing number of enterprises each year, including floral businesses such as The Floral Rental Co., and this is quite a good thing because our franchise is currently expanding across the U.K.
Five Points for Why London Sector Is the Best City for Business
Besides Flower Rental Co.’s franchise benefits, as a franchisee, you must also be mindful of your franchise’s location and the best place to establish it is in London. There are numerous justifications for it, such as the following:
- Have access to a skilled, diverse population.
If you locate your company in a city with a population of 8.1 million, you will have access to a large pool of potential employees. London is unique among other major cities because of its diversity of ethnic groups.
According to Trust for London, only 10% of Americans hail from a black or ethnic minority (BME) background, compared to 41% of Londoners. Thanks to workplace diversity, you can better understand each of your consumers, which can ultimately improve your financial performance.
The multicultural populace of London is also knowledgeable. Just ask any English graduate who has recently graduated. Approximately a third of them relocate to London after earning their degrees. The fact that 24% of people living in central London are between the ages of 25 and 34 is not surprising. You can find young, talented individuals in London who are ready to succeed.
- Request aid from the British government.
The U.K. is incredibly supportive of startups and expanding businesses, which attracts business people to the region. Financial aid can be obtained relatively quickly, for instance, through the government-sponsored Start Up Loans program. ]1] R&D tax credits, capital allowances, and subsidised broadband are a few other programs you might use to lessen the tax load a new business must bear.
The ideal location from which to access these and other support channels. Londoners have access to a wide range of localised resources, including free business libraries, growth assistance programs, and enterprise centres where you may apply for affordable workspace.
- Establish new connections and attract investment.
A total of 270,114 new businesses were registered in London in 2020 alone, bringing the city’s total number of companies to almost 1.1 million. [2] The city is also home to the most significant technological cluster in the EMEA area, according to recent CBRE data.
As a result, networking possibilities abound in London. Numerous weekly planned gatherings and focused groups deliver workshops where you can pick up new knowledge and concepts from the collective wisdom.
London is a great place to invest. The Lord Mayor’s office reports that a record £2.45 billion was funded by internet companies in the city in 2017, [3] accounting for nearly 80% of all venture capital tech funding in the United Kingdom that year.
London’s tech startups have gotten more venture capital funding in the last two years than Paris, Berlin, and Stockholm. Remember that these numbers were obtained after Brexit, which should alleviate many concerns. It’s also helpful to know that London is home to more than half of all business accelerators in the United Kingdom, making it the ideal location to expand your expanding company.
- Provide services to more clients.
It is not an exaggeration to state that London has some of the best infrastructures in the world, with its six international airports, ten significant ground transportation hubs, and massive, recognisable underground rail system. Of course, a solid basis is advantageous to a firm. In London, it is simple to offer personalised service to the millions of potential clients who live in the city, the U.K., and other countries.
The location of London is particularly advantageous. You can travel from London to the most important financial centres in less than a day because it is close to mainland Europe and halfway between the Americas and Asia.
- Enjoy the opportunity to expand and prosper.
Do you need to get a job? There are numerous coworking spaces around London. It’s time to modernise. The current version of the Mayor of London’s More London Plan emphasises the need to improve workspace availability to meet rising demand and ensure affordable office space stays accessible over the following decades. The city is committed to building new office space.
London is an excellent location for entertaining clients who are visiting. With Michelin-starred restaurants and world-class museums, you’ll never run out of new places to take them. If funds don’t quite go that far, there’s always the hottest new pop-up on the South Bank. Not to add that there is affordable housing available in every borough.
6 Aspects to Consider Before Buying a Business Franchise
Even though London offers many benefits for businesses, there are still several things to consider before buying a new franchise to establish in this busy city.
Now, if you’ve always wanted to own a business, but the start-up process intimidates you, you should think about getting a franchise business.
According to the franchising business model, you (the franchisee) purchase the right to use another company’s (the franchisor’s) brand name while marketing and distributing their products and services for a predetermined amount of time.
Franchises can be a much safer investment for a new business because you essentially steal another company’s tested business strategy. While this offers benefits, franchising also has drawbacks that some people might not be comfortable with.
So, before you determine if it’s the right decision for you, here are six things to ponder:
1.Demand
As with any new endeavour, verify whether there is a market for the goods or services you plan to offer. Be cautious when purchasing a franchise license from abroad because what is popular elsewhere could not be as popular here.
Therefore, think it over before taking the opportunity. If you plan to expand to multiple outlets eventually, you should also consider the possibility of expansion.
2. Past and Present Performance
Just because a business has franchising prospects doesn’t necessarily mean they are worthwhile. Only enterprises that have successfully franchised their companies should be considered.
To determine whether the franchise is worthwhile investing in, if at all possible, talk to current franchisees about their experiences.
3. Investment
A significant percentage of your initial investment goes to the franchisor as fees for training, equipment, and licensing rights, as opposed to beginning your firm, where all the capital is put into your operations, which is one of the main obstacles to purchasing a franchise. This sum can be between a few thousand and a few million dollars.
If you want to know if a franchise is a good investment, consider what the franchise business will offer in exchange for the franchise fees and how long it will take you to recover your upfront spending.
4. Competition
If the franchise is popular in the industry, there can already be many franchisees operating nearby, not to mention other competing businesses. It will be challenging to establish yourself if there are many competitors in the franchise and sector you choose, so think carefully before investing in either.
Competition won’t be an issue if the product being sold is distinctive. However, this won’t be the case for the majority of firms.
5. Assistance and Training
The training and assistance provided to franchisees are significant benefits of franchising. Choose a franchise that offers extensive training if you have no business experience. Some even continue to support you once your franchise is operational.
The likelihood that your franchise will be successful from the outset will significantly rise with appropriate direction and training.
6. Restrictions
It is rather typical for franchisors to place limitations on how their franchises must be operated. Franchisees are typically expected to abide by rules and specifications, which may cover product offerings, costs, open hours, and store layout, among other things.
You might be in charge, but the franchisor usually exercises control. Running a franchise might not be what you’re looking for if you’re uncomfortable with this setup.
What is Flower Rental Co.’s Franchise Business Package?
Now that we have given you the benefits and things to consider before venturing into a franchise, you may also want to add Flower Rental Co.’s Franchise Package to your list.
The Flower Rental Co. delivers a unique formula for success by combining superior operational systems and unmatched customer service methods.
Suppose you’ve already decided to launch a new company. In that case, you must now make a crucial decision: Should you develop your new company from the ground up, or should you put your money into an established company with tested methods and purchase a franchise?
There are several pieces of evidence that prove purchasing a franchise is a good investment these days, such as the following:
- Franchises frequently have a considerably higher success rate than start-up firms if you are looking at this investment solely statistically.
- According to the Small Business Administration (SBA), 30% of independent, non-franchise businesses fail within the first year.
- Only 3 per cent of franchise-run businesses are having trouble, and less than 5 per cent fail in the first five years, according to 2016 research from the UK franchise industry.
Franchise Business Benefits
Your starting expenditures for our franchise are solely determined by the number of displays you want to use as the foundation for your company. The Flower Rental Co. doesn’t even require you to be a florist to succeed; all displays are created by a team of skilled florists and designers. What to anticipate from your franchise package is listed below:
- Exclusive territory
- Three sizes of floral designs: large, medium, and small
- A rigorous training program at our headquarters in the south of Spain
- All the correspondence and promotional materials
- Everything you need to launch a business, including supplies and equipment
- CRM software, or client relationship management
- Accounting programs
- Online and technical help (emails, documents, software etc.)
- Support and guidance for company establishment
- Software for operations management that is unique and focused
- Design for commercial vehicles’ wrapping
In Conclusion
Flower Rental Co’s franchise package is a truly worthwhile investment, especially with its key benefits to its franchisees. On the other hand, one must be mindful of their established firm’s location, and the best place to choose is London. Yet, before finally making a decision, a franchisee must carefully consider six factors that may affect the business.
Nevertheless, our team is currently expanding across the UK. Thus, if you’re curious about our franchise’s availability in your area and our franchise opportunities and services, don’t hesitate to reach out, and we’ll help you immediately!
Email: info@FlowerRental.eu
Phone: 07967 679 660
@TheFlowerRentalCo
@TheFlowerRentalCo
References
- Gov. UK – Start Up Loans Application
- Inform Direct – Company Formations in 2020. informdirect.co.uk/company-formations-2020/london/
- National Numeracy. Committed to building the nation’s number of confidence and skills. https://www.thelordmayorsappeal.org/about-the-appeal/our-charity-partners/national-numeracy/
- Mayor of London strategies and plans. https://www.london.gov.uk/get-involved/mayor-london-strategies-and-plans