Franchise Advice
They need to understand the implications, not least with regard to social commitments which may need to take a back seat in the early days so as to give your business activities due priority. In becoming a franchisee your aim could well be to enhance the lifestyle and circumstances of your family, but there will probably be some sacrifices to be made in the early days. Franchising does not usually prove to be a ‘get rich quick’ scheme, as your advisers will no doubt have pointed out.
Good health In order to concentrate on developing your business, you should be free of any fitness problems and a clean bill of health resulting from a check-up by your doctor is very assuring.
Are you ready?
Franchise consultant Peter Williams considers what it takes to become a franchisee
T
he scope of objective advice available to prospective franchisees is a particularly useful feature of the British franchise marketplace. It comes in the form of published
articles, free seminars, information packs, legal guidance and so on, and there really is no excuse for anyone who goes ahead and takes the plunge without considering all the relevant aspects. As statistics continue to show, the great majority of franchisees succeed and my attendances at conferences and award ceremonies provide me with opportunities to meet many successful franchisees, whose achievements I have tremendous admiration for. So what is it that actually makes a franchisee flourish? Professional advice and guidance is invaluable and the package provided by the franchisor is of the essence. But if you are considering joining a franchise it is important to understand that no matter how suitable and encouraging it looks, the person who is really going to make all the difference is none other than you. Having done all the research and reached a decision on the options you see as most favourable, a process of self- appraisal is strongly recommended. There
“Having done all the research and reached a decision on the options you see as most favourable, a process of self-appraisal is strongly recommended”
will be much for you to contemplate and the following six attributes are worth particular consideration.
Business ambition Are you genuinely attracted to business ownership? If, as with the majority of franchisees, you come from an employment background, you should relish the prospect of being in control of your destiny and be enthusiastic about running your own show. Also you may be relieved to be putting the uncertainties of being an employee behind you.
Family support Are your family, and especially your spouse or partner, supportive of your enterprise?
Capacity for hard work It can be taken for granted that building a business usually calls for hard work, but that assumption needs to be put into context. Sometimes, in order to deal with demanding customers or a heavy workload, it may be necessary for you to work quite long hours, starting early and perhaps finishing late. You need to feel entirely comfortable with this, especially if you are used to a regular nine- to-five routine. Incidentally, the Working Time Directive that concerns employees does not relate to those who are self-employed.
Good at communicating Of all personal attributes, I rate being a good communicator as one of the most relevant for anyone going into business. An outgoing personality is immensely important in the vital task of winning customers and, not least, in dealing with employees, suppliers and everyone you come in contact with.
Conscientiousness As you will have discovered, a franchised business comprises a specific operating format to which all its franchisees are expected to comply. Quite simply, your diligence in following closely all the systems and procedures your franchisor has put in place is going to be absolutely crucial to your success. To conclude, if you are unfettered by
personal shortcomings or domestic worries and are able to move onwards and upwards with a clear head, you are already well on the way to a winning performance and the accomplishment of your ambitions. n
Peter Williams
Peter Williams is a well-established franchise consultant
February 2012 |
Businessfranchise.com | 23
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92