Playing it safe
To take that comfort even further it is logical
to consider joining a franchise by buying an existing business – a franchise resale. It could be that by looking at the franchise resales, which are available to buy, you may well discover a brand or concept you had not even considered as a business venture. Not all successful franchised brands are
For those thinking about going into franchising, a resale could be a safe bet in an unstable economy, says Derrick Simpson
high street names, though clearly there are some very well known ones out there. Some franchises are quite specialist within a niche market that deliver specific services and/or supplies but generate considerable income. Others are home based to allow flexibility in the work or life continuum and to enable franchisees to operate their business around family commitments. One thing that all franchise resales have in
common is the element of known quantity. With a franchise resale you know what you are getting; you know the business can operate successfully because there is trading evidence that it is doing so already. There is history, accounts, a customer base, brand presence and, if appropriate, staff and premises
“With a resale you know what you are getting; you know the business can operate successfully. There is history, accounts, a customer base, brand presence, staff and premises”
have a grand time with friends and family – or possibly both – the enforced break at the end of 2011 will be a period of reflection for many, if not most people. Being with and thinking of our families, considering the future of our dependants and generally taking stock of our individual and families lot. Many will be looking forward to 2012 and
S
considering, where do I go in the future? Do I wish to remain in employment – will I
have an option? Most importantly, many will be considering the question how do I secure my own and my family’s financial future? And isn’t the world just too unstable to set up a business for myself?
cary though it is but with the year flying by at a rate of knots we are in the festive season once again. Whether you approach this time of year with various faith based thoughts or simply to try and
In the last issue I mentioned the “dead cat
bounce” effect and the dire predictions of a double dip recession, which we were told by the mainstream media would be upon us soon. At the time of writing this has not occurred and most predictions are now that we will avoid the second dip and grow slowly in 2012 with projections that this will coincide with a reduction in inflation. That said, to go into business will seem to most people like stepping into the abyss. In view of the fact you are reading
Business Franchise magazine, this does indicate you understand the additional security that going into business by establishing a franchise can bring. Just about every article and advertising feature in the magazine yells out “tried and tested system” or “secure, regular repeat business” to illustrate the continuing success of the business format franchise model.
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Businessfranchise.com | December/January 2012
already in place. All of which would need to be established from scratch with a new Greenfield franchise. In simple terms all you need to do is go through the franchisor’s training process and take on the existing business driving it further and faster. Occasionally it is possible to secure a
business where the existing owner has not been successful and this means you are able to acquire it for less financial outlay than otherwise. This option will offer a substantial opportunity for growth if you grasp it. As with all things in life there are pro’s and
con’s with buying a franchise resale, but whilst pondering the next step in your future and considering franchising, spend some time looking at franchise resales and add this thinking into the mix – it could open up a whole new world of opportunities. n
Derrick Simpson
To find out what resales are available see page 74 or contact Derrick Simpson on
derricks@franchiseresales.co.uk
FRANCHISE RESALES
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