Franchising…a safer route into business start-up
Franchising…a safer route into business start-up
For the majority who are use to working 9-5 for someone else, taking that leap into the unknown of starting our own business is a scary and risky proposition. No solid business idea, no support, no management experience, no IT skills…sound familiar? If so, then all is not lost; franchising could be the ideal route into business start-up for you.
Buying a franchise allows you to be your own boss whilst being part of a larger support network; as they say in franchising “you are in business for yourself, not by yourself”. It permits you to work in a particular industry where you don’t necessarily need to have previous experience, and as you are ultimately buying into a tried and tested formula, the risks are substantially lower. The latest “bfa/Natwest Franchise Survey” highlighted that 91% of franchisees claim to be profitable.
Franchisees come from all walks of life and backgrounds, with ready-made business opportunities offered across a wide variety of industries – fast food, cleaning, B2B, motoring, home furnishing, pet care, children services, gardening, health and fitness, beauty, printing – to name just a few; franchising is no longer restricted to fast food and coffee!
Big brand names such as McDonalds, Thorntons, Dominos Pizza, Snap-on Tools, Costa Coffee, Apollo Window Blinds and Bang & Olufsen are all franchises. However, before you start visualising yourself as the next owner of one of these top name businesses, you need to undertake serious research, because as wonderful as it sounds, franchising unfortunately isn’t for everyone.
Franchising requires a particular mind-set and attitude, like the willingness to stick to someone else’s system, without wanting to make changes. You will also have to manage, market, promote, and sell, as well as undertake the many other tasks that have to be completed on a day-to-day basis. In essence you will be the director, sales executive, I.T guru and admin person rolled into one!
You now might be attracted to the idea of running a franchise, but do you really know what is required of from you. Next month we will address the areas that you need to look at before starting down the franchise route.
Franchisinga safer route into business startup - To learn more about this author, visit Suzanne Donald's Website.
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If this article has grabbed your attention, then the chances are you are interested in becoming your own boss. However, the million dollar question for many will be, “what can I do?”
For the majority who are use to working 9-5 for someone else, taking that leap into the unknown of starting our own business is a scary and risky proposition. No solid business idea, no support, no management experience, no IT skills…sound familiar? If so, then all is not lost; franchising could be the ideal route into business start-up for you.
Buying a franchise allows you to be your own boss whilst being part of a larger support network; as they say in franchising “you are in business for yourself, not by yourself”. It permits you to work in a particular industry where you don’t necessarily need to have previous experience, and as you are ultimately buying into a tried and tested formula, the risks are substantially lower. The latest “bfa/Natwest Franchise Survey” highlighted that 91% of franchisees claim to be profitable.
Franchisees come from all walks of life and backgrounds, with ready-made business opportunities offered across a wide variety of industries – fast food, cleaning, B2B, motoring, home furnishing, pet care, children services, gardening, health and fitness, beauty, printing – to name just a few; franchising is no longer restricted to fast food and coffee!
Big brand names such as McDonalds, Thorntons, Dominos Pizza, Snap-on Tools, Costa Coffee, Apollo Window Blinds and Bang & Olufsen are all franchises. However, before you start visualising yourself as the next owner of one of these top name businesses, you need to undertake serious research, because as wonderful as it sounds, franchising unfortunately isn’t for everyone.
Franchising requires a particular mind-set and attitude, like the willingness to stick to someone else’s system, without wanting to make changes. You will also have to manage, market, promote, and sell, as well as undertake the many other tasks that have to be completed on a day-to-day basis. In essence you will be the director, sales executive, I.T guru and admin person rolled into one!
You now might be attracted to the idea of running a franchise, but do you really know what is required of from you. Next month we will address the areas that you need to look at before starting down the franchise route.
Franchisinga safer route into business startup - To learn more about this author, visit Suzanne Donald's Website.
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If you are making the move from a big company to a startup, Scott Converse has a must read post up about passive-aggressive behavior titled Corporate vs. Startup behaviors. |
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| Franchising offers an excellent opportunity for you to be in business for yourself. When you hear the word " Franchise" you probably think of fast food restaurants such as Burger King, McDonald's or Subway. But the ... |
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| Every business is different and has its own specific cash needs at different stages of development; therefore there is no generic method for estimating your startup costs. Some businesses can be started on a shoestr... |
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| Franchise business offers a more secure route into self employment than going it alone. Over 90% of UK franchise owners run profitable businesses according to the British Franchise Association/Nat West National Fra... |
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| In order to determine how much seed money you will need, you must estimate the costs of your business for at least the first several months. Every business is different, and has its own specific cash needs at differ... |
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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Bernard ReberBack in late 1992, MS Access hit the streets. About that time the company I managed needed new software to handle their growing client base and I decided to try this new product. I had little difficulty writing and adapting a database to suit us and discovered a hidden talent for programming. A business was born. With business studies and 25 years of management experience in three different countries under my belt, I could offer a unique combination of skills and my customers agreed. From these humble beginnings my software 'invoiceit' emerged in 1999 and has since been taken to 49 states (hello Wyoming, won't you join us?), all across Canada and more than 70 other countries. From the very beginning the program included cashbook accounting, the simplest form of keeping financial business records. The Dictionary.com defines 'cashbook' as "A 'book' in which to record money received and paid out". For 'book' substitute 'simple software' and that's what I'm about. Now I have published Simple Accounting, an inexpensive spreadsheet solution which even you can master. For just $14.95 it costs less than a takeout meal! More at http://www.scrambled-card.com/simple_accounting_main.htm - Visit Bernard Reber's Website |
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Dr. John OdaJohn Oda Ph.D NLP is a business peak performance expert, an author, and speaker frequently called upon to provide corporate training, workshops and seminars for many companies in the United States. He is an expert in coaching sales and business professionals in overcoming the behaviors and obstacles that may impede their sales results and affect their bottom line. Since 1995, John has created a speaking bureau such topics, which include: time management, sales training, human diversity, leadership programs and etc. He provides companies with a strategic plan to increase their bottom line by over 25 percent yearly. - Visit Dr. John Oda's Website |
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
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If you are making the move from a big company to a startup, Scott Converse has a must read post up about passive-aggressive behavior titled Corporate vs. Startup behaviors.




















