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FranchisingThis series has been provided by startups.co.uk, which has references with Great Britain stats and British currency, so just mentally make an adjustment. |
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Is Franchising for you? |
What is Franchising? |
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Franchising is not for everyone. You must be: Keen to run your own business but happy to accept the franchisor's
methods – if you want everything your own way, forget it A 'people person' with lots of confidence – your main task
is to sell yourself and your service Fit – long hours are common, especially at first, and you
must have total family support Realistic – franchising is hard work not a way to 'get
rich quick' Organised and aware of your own needs – personal and financial.
The business must pay family bills as well as its own but without
planning it can take over your whole life. You do not usually need experience in a franchisor's business. Most prefer you know nothing about their trade, so you only know one way to do it – their way. This gives you a wide choice of businesses and is great if you want to try something new, are going back to work after a break or are the wrong side of 40. Franchisors, unlike many employers, regard maturity as a plus-point: six out of ten people who take out a franchise are over 40. Many have previously been made redundant and there is no prejudice against working mums – some franchises are aimed specially at them. Franchisors do usually want people with business
acumen – the ability to spot opportunities, to get on with people
and work professionally. Any kind of marketing and management experience
help. The best franchisors are very choosy so you have to sell yourself
well and prove your claims. |
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