There are usually a lot of questions that come to mind when entrepreneurs first start thinking about opening a Transworld Business Advisors franchise.
The business brokerage and franchise consulting fields can be complex, so we try to take the complexity out of opening a franchise as much as possible. The following are answers to a few of the most common questions asked by franchisees when getting into the business:
How quickly can I get started with my Transworld franchise?
Every franchise launch is unique and individual, we will work with you to get you up and running as quickly as possible. All of our UK initial training is done on a one to one basis and follows immediately after your initial ‘boot camp’ training course in Florida. The Florida training courses are run to a predefined schedule, but we will endeavour to book you on the first available course. Whilst in Florida, you will meet other new franchise partners from the US and other locations worldwide, allowing you to truly establish a global marketing network.
Can I speak with an established franchisee?
Absolutely yes, we positively encourage you to speak with as many current franchisees as possible. We have a highly successful business model and we want to share the good news with you. As soon as you have met with us at our London office, we will provide you with full contact details of existing franchisees.
How much can I earn in my Transworld franchise?
The Transworld business model is a low overhead, high profit business. So as soon as we have met you will be provided with a confidential Franchise Information Memorandum (FIM), amongst many other important pieces of information, the FIM comprises of a detailed three-year franchise business plan that provides full revenue, expenditure and profit and loss information.
As a preliminary example of the types of fees possible as a Transworld franchisee, a small sale of £200,000 at a commission of 8% of the sales price will generate you £16,000 in revenue, should you set yourself a modest target of ten deals a year, you will see that this can quickly generate significant income for you.
What makes the Transworld franchise different in the UK market?
The business brokerage market in the UK is highly established with many small players but is dominated by a small number of large national companies operating from a central office base. The Transworld model is unique in the UK as we offer our clients both a highly localised presence but also far reaching global exposure through our franchise network.
Most if not all UK brokers charge a substantial ‘up front’ fee of often thousands of pounds, followed by a commission on the sale. The Transworld model involves no advance fees to the client and a totally risk free charging structure of typically 8% to 10% at closing. In working this way, we have effectively removed the major barrier to a client engaging an agent and allows us to pick and choose the deals that we take to market. Our franchisees rather than listing many hundreds or in some cases thousands of businesses for sale, focus on providing a high quality effective service to a comparatively small number of quality clients.
Can I take trade and professional references on the company?
By all means! We are an open book; Transworld have a highly experienced credible UK management team and in the USA we are a key part of the world’s largest multi franchise organisation, United Franchise Group. The FIM provided at our first face to face meeting contains much of our reference material, but we are happy to provide whatever other information that you require in order that you can make an informed decision.
Can I resell my franchise in the future?
Yes, you can. This is generally why most of us start a business in the first place. Our business is the sale of businesses and franchises, therefore you are well placed and positioned should you decide at some point to retire or move on. Additionally, because our franchise agreement is for a twenty-five-year term, you have an asset that is realisable at a premium price.
How can I finance my franchise?
Transworld has built some excellent relationships with the major banks in the UK. This means that we are nationally recognised by the banks that will support potential franchisees with their initial franchise fee subject to their normal lending criteria. We are more than happy to put you in touch with our contacts at the banks, who will be happy to answer any of your questions.
How much will it cost to open a Transworld Business advisors franchise?
A Transworld Business Advisors franchise is much less expensive to start and run than most other franchises. The franchise fee is £50,000 + VAT; the VAT can be recovered within the first quarter of trading.