If Not Now – When?
Why buy a business in the current climate? Derrick Simpson on why now is as good a time as any to take on a franchise, especially a resale
especially those on the periphery of the building industry or recruitment but even here there are success stories. Lettings franchises, for instance, are hitting new heights and businesses supplying interim or temporary staff are flourishing. Success stories abound in the fast-food/home- delivery sector as the dining public stay at home rather than eating out. Why should that be – why are
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franchisees not hurting as much as the press would like us to believe the rest of industry is? The answer lies in the structure and systems used by franchisees. Systems are the basis of all business operations and core to the ongoing success of any franchise. Franchisors’ tried-and-tested operating systems, with franchisees driving sales activity and following a structured marketing plan, are the key to delivering the right results. That, together with the determination of a motivated franchisee, makes buying into a franchise right now a logical way to secure your future.
ranchising is growing, not just through the recruitment of new franchisees but individual franchisees are growing also. Yes, some franchised businesses have had it hard,
The natural extension of that would be
to consider buying an existing franchised business rather than setting up a new one. More and more people are recognising that to take over an existing business then develop and build it makes a lot of sense. An existing business already has cashflow, customers in place, staff (if appropriate to
“An existing business already has cashflow, customers, staff and a brand presence in the locality”
the business) and – most importantly – a brand presence in the locality. All these are essential ingredients to a successful business and are already in place with the resale of an existing franchise. You may wait forever for the perfect time to start out in a franchise whilst life’s
opportunities pass you by. So why not start now by stepping out and taking control of your own destiny.
If not now – when? As for investment – you may well ask
“how is it possible to raise the funds to buy a business if banks won’t give out loans?” The truth is that banks are lending. The main banks that support franchising are making loans available – HSBC, Lloyds TSB, NatWest, RBS welcome applications from prospective franchisees with sound business propositions. Existing businesses – franchise resales – have evidence of a trading past and so present a strong case to the bank demonstrating that the business will be able to repay any borrowings. How better to prove that your plan is
achievable than having the evidence of past performance by acquiring a franchise- resale opportunity? Whichever way one looks at it franchise resales make sense. So if not now – when? n
Derrick Simpson
To find out what resales are available see page 84 or contact Derrick Simpson on
derricks@franchiseresales.co.uk
March 2012 |
Businessfranchise.com | 83
FRANCHISE RESALES To be included call 020 8394 5283
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