A new e-learning initiative aimed to help aspiring franchisees has been launched by the British Franchise Association (bfa) and Lloyds Bank.

The Prospect Franchisee Certificate (PFC), is a free modular, video-based course and aims to deliver a'comprehensive overview' of what it takes to succeed in the £15bn franchise sector. Each module includes an assessment which must be passed, and topics covered include business management, financial understanding, legal considerations as well as evaluating franchise opportunities.

The course can be taken on any device, anywhere with an internet connection, either in a single day or in bite-sized chunks.

Pip Wilkins, CEO of the bfa, said:

"Anyone who is considering starting a franchise should be taking this course as an integral part of their research. It costs nothing, is jargon-free and will help them stand out as business-aware and ready to hit the ground running in their new venture.

Richard Holden, head of franchising at Lloyds Bank, said:

"Everyone is looking for better-informed investors and the newly developed Prospect Franchisee Certificate program will help to deliver exactly that.

"This new educational programme not only ensures well researched and knowledgeable prospects but should be an essential step in any franchisor's recruitment process to help them identify whether an investor will be a good fit for their network.