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Last word
News sensation
William Ewbank tries to make sense of the blur between media headlines
and reality when it comes to both the economy and franchising…
A
S WE hurtle at breakneck speed into a media created recession, I the same as it did the previous night. As the price of oil hit record highs, I
thought I would attempt to bring a sense of perspective about what did notice it would cost me an extra tenner a week on petrol, and I also
may happen in the coming months. noticed I was still able to feed and clothe myself. As for the government’s
The rst thing to remember is that sensational headlines sell newspapers. Far latest initiative of reducing VAT by 2.5%, I now nd, I save myself the princely
more exciting to read about mass unemployment, global nancial meltdown, sum of 38p on a bottle of my favourite tipple, or in other words after I buy
the collapse of capitalism and the resurgence of fascist parties, than it is to 40 bottles I will have saved the price of a further bottle. Here at Domino’s
read about an economy that will pretty much be in the same place at the end we successfully entice our customers by occasionally offering pizzas on a
of 2009, that it was in at the start of 2007. If my fading memory serves me “Buy one – get one free” basis. I’m not sure that a “Buy 40 – get one free”
correctly, I felt nancially secure back then. The world was not
“The business will
would have our customers dashing to pick up the phone or,
such a bad place. At the end of each month, I would nd myself increasingly, click their mouse.
in the privileged position, of having paid all my bills, tucked a few
certainly have
These lessons on paying scant regard to sensationalist
sheckles away for a rainy day, and been able to purchase the experienced ups headlines will serve us well when choosing a franchise. We
occasional bottle of the blue spirit.
and downs, but
will hear of tales of gloom, doom and disaster where the
Actually, on re ection, this has been the situation most of poor unfortunate prospect lost the family fortune and had
they will be more
my working life (a considerable length of time I may add) and to sell his wife and child to buy some bread and cheese.
I would imagine 2009 will be much the same. A chart of my
Cotswold than
We will also hear stories of untold riches and that after a
personal wealth would have a fairly smooth, gently undulating
Himalayan in their
modest investment, and within a matter of months, the lucky
pro le over the years. Unlike the chart that has become a
magnitude”
franchisee became a Ferrari-driving, yacht-owning billionaire.
permanent feature of the BBC news for the last six months. Like the economic news, however, the truth will most
Their chart pro le resembles the Himalayas, with soaring peaks, plunging likely be far less spectacular. The prospect who researches the franchise well,
crevasses and ends with an almighty red arrow pointing to the ground. The invests in an affordable business, follows the rules and guidelines laid down
language of the media has also become truly sensational. Why use phrases by the franchisor and demonstrates honest endeavour, will most likely over
such as “A lot of shares were sold, causing the price to fall” when words such time build a successful venture. After many years of following this course of
as “Carnage, Bloodbath and Armageddon” create a far more disturbing and action, they should be in a position to provide well for their dependants and
N
warlike impression of the stock exchange. enjoy the fruits of their labour. The business will certainly
S
O
D
Truth be told, I, like many others, remain largely have experienced ups and downs, but they will be more
U
unaffected by much of the “economic data” that we
william ewbank
H
Cotswold than Himalayan in their magnitude.
has been involved in
have all become experts at digesting, and commenting May I take this opportunity to wish you well for
:
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franchising for more than O
on. In the past 12 years, my house price has trebled and 2009, and bear in mind that whatever the economic
25 years and is now head
R
A
T
I
more recently dropped by 12.5% apparently. And yet,
of franchising at Domino’s Pizza
forecast is for the coming year, it will most likely be S
T
each night I return home, my house looks pretty much wrong! �
L
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February 2009
www.businessfranchise.com
BF110_Last word_FEB09 x.indd 1 7/1/09 13:57:41
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