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Going for Growth: How to grow your business on a budget by Emma Jones

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Franchise

Grow your business by developing a trading record and creating a franchise package for entrepreneurial individuals who help you rapidly expand the business and the brand

Growing through franchise is particularly suited to companies that have a model which is easily transferable and has a process to follow for making a profit. For example, dance activities for children or tasting parties for food fans. The aim is to perfect a model that works in one area and then grow by enabling others to replicate it. According to the British Franchise Association, the official description of franchising is:

“The granting of a licence by one person (the franchisor) to another (the franchisee), which entitles the franchisee to trade as their own business ...

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