Lingotot fully accredited by the British Franchise Association
Posted: Sat, Oct 12, 2019 10:49 AM
We have had a busy start to the autumn term but by far the BEST news is that Lingotot has joined the British Franchising Association!
The BFA provides objective advice and information to prospective franchisees and franchisors. It is the trade association for franchising and the authoritative voice of the sector.
The BFA sets standards on what constitutes best practice in franchising. Criteria for franchisor membership today include an examination of the business model; a review of the franchise agreement; assessing the training and support offered; and evidence that franchisees can sustain profitable businesses by scrutinising the Franchisor and a sample of franchisee financials.
What does BFA membership mean?
The BFA is there to help potential franchisees identify the right opportunities – and avoid the wrong ones. A significant aspect of this work is to highlight ethical franchisors that have passed a strict accreditation process to become members of the bfa. Not all can: companies are turned down each year for membership because they can’t meet the criteria we set for ethical franchising.
In addition, the banks all work closely with the BFA. They understand how thoroughly they assess franchisors for membership, and because of that they value BFA membership too when it comes to funding decisions. A proven, ethical brand is held in high respect by the banks, and can be a significant factor in a loan application.
To learn more about the BFA, the work it carries out, the advice and resources it offers, and the companies it represents, visit the website www.thebfa.org.
To join Lingotot as a franchisee please click here to download your information brochure.