Welcome to November’s Tubz Vending roundup. Every month the Tubz Vending franchising experts keep tabs on the best, brightest and most useful blogs, articles and online resources in the industry on the web. When it’s time for our monthly roundup, we hand-pick the very best bits from our bookmarks bar to help you learn a little more about franchising, help inspire you to explore our world and to give you a few tips and tricks of the trade.
This November: Find out how franchising can put you on a fast-track into business, get a lesson on the ten steps that go into buying a food franchise and find out why entrepreneurs may not make the best franchisees…
Franchising: A Clever Route Into Business?
It can take years or even decades to build a successful business from the ground up. But going into business doesn’t just take time it also requires contacts, resources, stamina, acceptance of failure, grit…you name it. In short, starting your own business is tough. Which is why franchising presents a very interesting option to individuals keen to run their own business and enjoy the freedom and autonomy this provides without the steep on-ramp that comes with starting an independent business.
In this article published on the GSM London blog, Andrew Falconer explores the usefulness of franchising as an alternative route into business – and makes some very interesting points. Read the piece online and share your thoughts below.
Do Entrepreneurs Make Bad Franchisees?
Here’s an interesting post from Platinum Wave. In this article, the author shares some information about franchising and a franchisee’s personal success story, but also makes an unusual point: entrepreneurs don’t necessarily make great franchisees.
Instead, the article argues, individuals from very different, non-entrepreneurial backgrounds are often highly successful as members of a franchise. In this case an ex-police officer’s natural skills and approaches are shown to reap dividends in a franchising context. The reason? According to this post, entrepreneurial spirits like to challenge and change.
How to Buy a Food Franchise
Thinking about taking the plunge and buying a food franchise? Hold your horses. Don’t do anything until you’ve read this quick guide to franchise buying from Sherrards Solicitors.
In this helpful guide , experienced franchise lawyers Manzoor Ishani and Leigh Head guide you through the ten essential steps to work through when buying a food franchise, from choosing between service and retail franchising, to acquiring a premises.
Do you have any advice to give those considering buying a food franchise? Do you think entrepreneurs make bad franchisees? Share your thoughts with other readers below or get in touch today with our franchising team via info@tubzbrands.co.uk
Welcome to October’s Tubz Vending roundup, our dedicated spot for sharing news, ideas, how tos, handy resources and interesting information from the world of franchising. Every month our team of franchising experts collect their favourite recent posts from across the worldwide web, and each month we choose our favourite pieces to share with you. Stand by for handy tips and franchising insights…
This month: discover how and why to avoid the “absolute discretion” trap, get to grips with performing due diligence before signing up to a franchising opportunity and learn why the number of female franchisees is now on the rise.
Beware the Absolute Discretion Trap
Any franchise agreement requires serious attention, from franchisers, franchisees and both parties’ legal advisors. Yet, if your franchise agreement includes phrases like “absolute discretion” or “sole discretion”, the agreement requires even closer study – and potentially review. Why? Because these expressions could spell serious trouble with little or no recourse to rulings from arbitrators, mediators or the courts.
Giving sole discretion to a franchiser is a very dangerous abdication of power for franchisees, handing over complete control and the final say to the franchise in question in every single instance. Instead, phrases like “reasonable discretion” and “consent will not be unreasonably withheld” point to a healthy future relationship between both parties. Before you sign anything, get to know the issue. This blog published on the AAFD website will help you to familiarise yourself.
A Helpful Guide to Franchise Due Diligence
If you listen to proverbs and old wives’ tales, you’ll know all too well that “fools rush in”. In very few instances in life is this more true than when you’re considering investing in a franchise. This excellent blog post from McColm Matsinger Lawyers may cover franchising in Australia, but a great many of the lessons about performing proper due diligence before jumping in feet first with a franchise are applicable both worldwide and in the UK.
From researching the opportunity, to reading all paperwork thoroughly and talking to other franchisees in the system, this blog put together by Christine Matsinger is full of helpful pointers, good advice and some very valuable “dos” and “don’ts”.
US Female Franchisees On the Rise
Surprised businesswoman looking at laptop pc, astonished woman with shocked face and open mouth.
In a trend we’re confident is also reflected on British shores, The UPS Store franchising blog has shared the news that the number of female franchisees in the States are on the rise. Data accessed via the 2015 State of Women-Owned Businesses Report shows that almost 30% of all US business are now female owed, with 9.4 million women-owned businesses now operating in the country. Get the full story here.
Do you think that female franchising is on the rise? Are you a woman with a franchise? We’d love to hear your thoughts. Share them with other readers below or get in touch today with our franchising team via info@tubzbrands.co.uk
Welcome to September’s Tubz Vending roundup, our franchising experts’ place to share news, views and helpful resources from across the world wide web – all about franchising. We scour the net every month, discovering those “must read” articles which will keep you informed and interested in franchising, whether you’re a seasoned pro or a franchising first timer.
This month: know your Intellectual Property onions, find out what’s going on at next month’s National Franchising Exhibition at Birmingham’s NEC and find out what lies behind the UK’s recent franchising boom.
Do You Understand Intellectual Property?
Do you understand how the land lies when it comes to franchising and intellectual property? For both franchisers and franchisees, this is a very important corner of the law to get to grips with. For franchisers, understanding how intellectual property rights work will ensure your franchisees use your brand and your business model correctly – and that no outside parties can step on your toes (or steal a slice of your pie). As a franchisee, getting a handle on the subject is all part of using your franchise’s intellectual property properly and responsible – without landing yourself in a world of legal pain.
As luck would have it, the well-informed paralegal David McGuire of Wright Hassall LLP has put together a very helpful introduction to the subject for the smallbusiness.co.uk blog. Time to swot up on subjects including warranties, indemnity and the different types of intellectual property.
Don’t Miss the National Franchise Exhibition: 2nd & 3rd October
In the first week of October hundreds of franchises will descend on Birmingham’s NEC to take part in the National Franchise Exhibition 2015. Jam packed with opportunities for potential franchisees from all walks of life, with budgets ranging from the modest, to the substantial, this is the perfect place to scope out UK franchising opportunities, get a feel for what’s going on in the sector and learn more about working with a franchise.
With over 60 seminars, lectures and inspiring talks on the schedule, there’s an opportunity to learn everything you need to know about franchising and growing your business, from real life inspiring franchising stories and one-to-one advice clinics, to expert talks on everything from business expansion to SEO (Search Engine Optimisation) for your brand. There’s even a fun-filled children’s play area so you can learn and keep your youngsters busy all at the same time. Book tickets online or follow the event on Twitter with the hashtag #NEF15.
Why is UK Franchising Booming?
We’re fascinated by this insightful article from David Banfield of the Interface Financial Group franchise. In his blog for Pound Sterling Live, Banfield points out that although the UK’s recent franchising boom has seen an increase in franchising by more that 10% since 2008, news of this significant development has had virtually no airtimein the media. So what lies behind the boom? And why are so few people talking about it? Read David’s blog to get the answers.
What do you think lies behind the recent franchising boom? Which stalls and seminars are you keen to see at the National Franchise Exhibition? Share your thoughts below or ask the Tubz Vending team about our franchising opportunities: info@tubzbrands.co.uk
Find out how you could become a Tubz Franchisee here.
Twitter is arguably the best source of news and information around, and this is especially true for industries such as franchising.
We follow numerous franchise-related Twitter accounts; not necessarily because of how many followers they have or how well known they are, but because they provide fantastic insight, information and advice for franchisees and franchisors.
So check out our top 21 favourite franchise Twitter accounts, most of which link to equally valuable websites and blogs.
1) 
@EricStites – Eric Stites
Followers:659
Entrepreneur and franchise researcher Eric Stites shares guidance in the form of articles from his site Franchise Business Review, as well as gems from other industry leaders.
2) 
@FranchisePick – Sean Kelly
Followers:3.5k
Sean is a well respected franchise writer and consultant who knows his field better than most. He Tweets some of his great articles from his site FranBest and is a must-follow guy.
3) 
@Kate_H_Taylor – Kate Taylor
Followers:1.2k
Kate is a staff writer for Entrepreneur.com who writes regularly about franchising. She shares her work and other franchise-related news and tips on her Twitter account, as well as other fun stuff.
4) 
@BizAdvisor – Franchise Strategist
Followers:4k
The Franchise Strategist account is packed with useful articles from associated site Franchise Money Maker, information about franchise opportunities and events, and motivational tweets.
5) 
@Franchise Sales – Franchise Experts
Followers:3.5k
This account is dedicated to connecting franchisors and franchisees and is an extension of Franchise Sales. It’s a great way for people new to franchising to move to the next step.
6) 
@FranchiseHdbk – Franchise Handbook
Followers:4k
You can find franchise announcements, news and advice on this Twitter feed which is of course related to the Franchise Handbook – a directory of over 1700 franchises and additional tips.
7) 
@SpeakFranchise – Katerina Mitchell
Followers:1.8k
Katrina’s account focuses on advice for making the most of franchise conferences, as her site Franchise Speakers provides orators for these events. Some excellent advice for anyone running a franchise networking day.
8) 
@Franchising411 – IFA
Followers:9k
As you might expect the International Franchise Association’s Twitter account provides a wealth of information on all things franchise, as does its website.
9) 
@Franchising_com – Franchising.com
Followers:8.8k
A multimedia feed of articles, videos and links to print resources on franchising from the team behind franchise-encompassing website, Franchising.com.
10) 
@FranchiseKing – Joel Libava
Followers:18k
Joel ends up in a lot of our blogs, but then he is the Franchise King. All franchisors and franchisees should follow his Twitter account for industry news and plenty of articles giving insightful guidance.
11) 
@FranTimes – Franchise Times
Followers:4.5k
This is the feed for the US’ biggest print publication and website dedicated solely to franchising. As you’d expect the Twitter account shares masses of information that’s invaluable to franchisors and franchisees the world over.
12) 
@TheFranchiseMag – The Franchise Magazine
Followers:4.2k
The Franchise Magazine is a UK based franchise publication and on Twitter these guys offer articles and news that are useful for anyone in franchising, with any amount of experience. Another must-follow for UK folks at least.
13) 
@FranchiseReview – Franchise Biz Review
Followers:4.1k
This feed is a great source of independent franchising and entrepreneurship information and guidance, attached to the equally notable Franchise Business Review site.
14) 
@BFA_UK – British Franchise
Followers:3.4k
This is the Twitter feed for the British Franchise Association, and it focuses on news and tip, but also the ethics and standards expected in this industry. A very useful account for Brit entrepreneurs to follow.
15)
@EvanCarmichael – Evan Carmichael
Followers:207k
Evan is an expert in entrepreneurship and for anyone wanting to make it in the world of franchising, he is a great guy to follow for guidance and importantly for motivation. His site is full of useful articles and guides too.
16) 
@bizopinsider – Biz Opportunities
Followers:17.4k
A feed full of franchise advice and articles from Dane Carlson’s BusinessOppotunities.biz, and the latest industry news to keep you up to date.
17) 
@AllBusiness_com – AllBusiness
Followers:8.3k
Although not solely franchise-focused AllBusiness talks a lot about startups and building your own business, which topics are spot on for franchisees and franchisors with big dreams.
18) 
@FranchisesUK – Franchise Direct UK
Followers:3.2k
This is the UK feed for the fantastic Franchise Direct blog and directory, offering the latest news and opportunities in the sector. The US account is right here for you guys across the pond.
19) 
@infranchisesu – Lizette Pirtle
Followers:4.5k
Lizette is passionate about franchise success and she shares advice from her website which tackles just that, as well as top tips from other industry leaders.
20) 
@franchise – Franchise
Followers:16.4k
Sebastien Page shares a wealth of news on existing franchises, and he usually tweets numerous times each day so follow if you want to be regularly updates on the industry.
If there are other franchise accounts we should include here let us know in the comments section. These are our favourites but the Twittersphere is a big place so don’t hold it against us if we’ve missed someone!
Vending as a business is on the surface an attractive option and in truth there advantages and problems associated with it, just as there are with any business concept. So let’s take an unbiased look at some of the key pros and cons.
A vending machine business, once established, can provide a steady income. Many businesses can take several years to truly become profitable but with vending, if you work smartly, can start to turn a noticeable profit within a few months. The profit that you see and the income that you can generate from vending of course relies on how many machines you are operating and the venues where you have your machines placed.
Vending is also a business that is relatively easy to operate. With less concerns such as staffing, business premises, huge overheads and so on, it is easier to maintain a flow of profit. Plus there are fewer management issues which can take up so much operation time and costs with most other types of business.
Vending is also a business that can be fun to operate. Meeting different people, being able to work to your own schedule, more freedom in your own choices: these are all reasons that people have highlighted as the lighter side of vending.
The costs of the actual equipment can be both an advantage and disadvantage, depending on the type of machine that you use. Initial outlay is one of the most important factors to consider when looking to start any business from scratch so the smaller the initial investment, the sooner you can recoup that cost. Cost however should also factor in the maintenance cost – anything mechanical will experience wear and tear so it is very important to be able to include the cost of repair and maintenance into your projections. However electronic machines if they break down can be very expensive to repair, with printed circuit boards and electronic components. Decide on the type of machine (and product) only once you have this information available.
Without a decent location for your vending machine, you don’t have a business. Competition for the “high-end” sites is strong and can sometimes be aggressive. In some cases to gain floor space in these types of venue can involve high rental fees, guaranteeing a minimum income to the venue which could mean that you have to make up any shortfall from time to time. In some cases you may be asked to enter into a fixed-term contract or agreement with the venue, taking away much of your freedom and the ability to re-locate your machine if it isn’t generating the income.
It is important to remember that with the right type of vending machine, you don’t necessarily have to target the more sought-after venues. Opting for a form of vending and product that is applicable to a more generic range of venue will help.
Remember also that for every venue that closes or is lost, there is another around the corner. Vending operators sell their businesses or retire which can free up options so networking and keeping up to date with what is happening in your area is key – keep an eye out for new businesses and developments that are due to be starting in your region and get in touch with the developers as soon as possible.
There are of course companies or individuals who provide locating services. While this can help get your machines active and generating sales more quickly, it of course come at an extra cost.
As soon as you put your machine into a public environment, you are placing them at risk of misuse. Most vending machines are difficult to actually break into but this does not necessarily mean deterrence. Another issue can be the wrong coins put into the machine causing vending jams– the product may not be dispensed but your equipment could be rendered dormant until you are able to attend to it. Most members of the public do not associate vending machines with a person trying to make a living; they are often regarded as a faceless entity so becoming aggressive or boisterous with them doesn’t pose a moral issue to some people. You need to be prepared for this as no matter what venue you consider, you can never fully predict how your equipment will be treated there. However this is quite rare and if you are friendly with the site owner/manager they with keep an eye on your equipment and will do their best to make sure your equipment is no being misused.
Finding the right product is important – almost as important as matching the product to the venue. There is no point placing a snack machine in a venue where healthy-eating is a major concern. In the same vein, there is little or no point having a toy capsule machine in an adult-orientated environment. Maintaining an especially varied product supply for a limited number of venues can be inhibitive, particularly during the start-up period.
When you are just starting a vending business, you are going to want to keep things simple so common advice is to start with a product that will have as much of a wider appeal as possible. This will help keep a level of focus for you in terms of location and product supply. You can then start to diversify. Some of your existing venues will be suitable for more than one type of product. Once you are established, you will become more adept at matching certain types of vending to particular types of venue. It will also be easier in terms of cash flow to accommodate different concepts within your business.
