Have You Considered Franchising?
More questions on running a franchise? Find out here
More questions on running a franchise? Find out here
Do you currently feel that you’re not in the career you want to be in and you might want to work for yourself instead of someone else? Well, have you considered franchising? Franchising is a method of business ownership where you will run your business unit and you will be your own boss, but you will have the support of an experienced industry leader, which will be your franchisor.
Why Should I Consider Franchising?
Whilst franchising isn’t for everybody, if you have read this far then chances are you are the type of person that is at least interested in what it can offer. Franchising is a great alternative to traditional business ownership where you will be using somebody else’s tried and tested business model for your own personal growth. The fact that this is considered a safer bet over a traditional start-up is just one of the many benefits of franchising. Did you know that with franchising, you have the following benefits?
Marketing isn’t something that everybody can do, but it’s essential in today's business world. If you struggle with this element of business then you need not worry with franchising as many franchises offer to conduct all the marketing for your franchise unit, leaving you to focus on areas you are strong.
Are you a parent and struggle to find the time to commit to daily hours? Well with certain franchises you can work from home or work the hours you want. This is your business after all and you can fit your business hours around your personal commitments.
Comprehensive Industry Training
When looking for a job or seeking to obtain investment for a startup in an industry, a common question is what experience do you have? With franchising, many franchise opportunities don’t require experience, as they know they can provide all the necessary information in their comprehensive training program before a franchisee starts.
Support When You Need It Most
Most franchisors will have a dedicated support manager for each franchisee, meaning whenever you get stuck, you have a person whose sole job is there to help you in your time of need. The best part about the support is that it isn’t just there when you need it, you can also use it to share ideas to grow and improve your business even further.
Starting with a Well-Known Brand
One hurdle many people can’t overcome when thinking about starting a new company is that nobody would have heard of them. This isn’t true for franchising, just think, when a new McDonalds opens, you don’t think, I don’t want to eat there because I’ve never been there before. You don’t even consider the fact that this is a completely new restaurant with no experience. You just remember the brand and want to go there because of your previous experience with the brand. This is the same for other franchises and you can utilise their brand so even before you open, your target market knows who you are.
Group Purchasing Power
Starting your own business means you need to identify suppliers and this means negotiating prices. The reason new start-ups would struggle to compete with subway or KFC is that they couldn’t provide the same amount of products & services for the same price. This is because they don’t have the purchasing power a franchise unit does. When opening a franchise, you will most likely use their suppliers and at the reduced price because of the group purchasing power your franchise has.
Track Record with No Experience
Many businesses will not want to work with a company that has no or little experience, and again, franchising can avoid this hurdle. With franchising, your brand has a tried and tested business model that has many happy previous customers for you to reference before you’ve even made your first sale.
Am I Right for Franchising?
You may be convinced that franchising is a safer option than starting a new business and you might think that its something that would interest you, but you are unsure if you are the right person for it. Well they’re typical traits of successful franchisees and even though they do differ between franchises, if you have some of the following, then chances are you could find a franchise where you will succeed:
In franchising, your franchisor is there to provide you with assistance in terms of the best way to run your business unit, but this is not to be confused with them being your manager or leader. You will be given assistance, but what you do with that and how hard you work will be down to yourself. You need to have the ability to keep yourself motivated and to continue to push yourself as nobody else will be there to do it.
Starting your own franchise over a traditional business is considered a safer option, but it is still a new business unit and doesn’t automatically mean it will succeed. You will have the tools and assistance to help make it a success, but it will ultimately come down to how much you want it and how determined you are to make it a success.
You may not own the franchise, but you do own the franchise unit, meaning you are the leader of all employees working for your unit. As with any business, your employees will directly impact how well your business performs and your leadership will directly impact how your employees perform. This means if your franchise has additional employees, you need to either have or develop strong leadership skills.
It is possible to work hard but not achieve the results you want, and the exercise could still be considered a success because you achieved something else, like additional knowledge on the subject for the next time. Whilst this may be acceptable in other businesses as other colleagues or departments can supplement the businesses success, as a franchisee, your results are the results of the entire business and they need to be positive. Being result driven means your focus will always be to achieve the best results for the franchise, which in turn will drive you to the optimal activities to achieve this.
Being a great communicator is essential for nearly every single franchise opportunity we have because this trait is something that works on many levels. As a franchisee, you will potentially need to communicate with suppliers, employees, other franchisees, other businesses and of course, your customers. Being a strong communicator will go a long way in helping you secure business and run your franchise unit effectively.
It’s Up to You
As mentioned before, in franchising you are using a tried and tested model that works, plus you are given additional assistance and you must pass a comprehensive application process. All of this adds up to a situation where if you become a franchisee, then you really do have all the tools and potential to make it a success, but at the end of the day it will all come down to how you perform. Therefore, it is essential for you and you alone to make the decision if you are right to seize the potential of franchising. Whilst it could be the best decision you ever make, it can also lead to failure if you lie to yourself about how much you want it or how hard you work.
So, do you think you’re the type of person who could run a successful franchise? If yes, then why wait? Check out the franchise opportunities we have on offer and find that one that’s perfect for you here – Franchise Opportunities in the UK
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