proved to be invaluable in getting the business established.
Did you have any concerns about investing in a low-cost franchise or did you have confi dence in Little Impressions? We looked at several franchises before choosing Little Impressions. For each of them, we looked at the fi nancials, target audiences and the margins within the business. For franchisees, Little Impressions offered a good gross profi t margin, which gave us confi dence that even if we spent more on our operating costs than we forecast, we could still achieve a good net profi t. We also liked the fact that we were actively encouraged to speak to other franchisees during the process of choosing a franchise – not all franchisors seemed comfortable with that approach.
Has your life changed as result of taking on a franchise? Yes defi nitely. At it is home based, we now work 24-hours-a-day! Seriously though, we don’t have to worry if one of the kids is ill or if we want an hour to watch them at a school sports day, as we can be fl exible with our hours to suit our family commitments. We’re under no illusions though, this is a full-time business and we’re always searching for new outlets and avenues to explore. The biggest advantage is fl exibility – that works both ways, we’re happy to see our customers in an evening or at the weekend, but that means we don’t feel guilty about having weekday time as family time.
Riverford Organic
Newlyweds Chris Hayton, 44, and his wife Zoe, 34, recently purchased a Riverford Organic franchise and begin trading this spring. The organic food delivery company recently dropped its investment level to £9,000 to attract more franchisees like Chris and Zoe.
Why did you decide to go into franchising? Chris: I was working as an aerospace lecturer for three years and prior to that I was in the RAF, but I’d always wanted to run my own business. Both Zoe and I wanted to take control of our own destiny and felt that franchising would enable us to do this. After doing some research, we decided that Riverford appealed to us because it offered a very good product and business plan and it was ethical – it was exactly what we were looking for.
Did you feel it was a safer option to invest in a low-cost franchise?
“We’re hoping that after the fi rst few months things will settle down and we’ll be able to gain a work-life balance”
What are the advantages of investing in a low-cost franchise?
Investing in a low-cost franchise gives the knowledge that the business model and product offer is established and there is a market (though it is still hard work to establish that business in your own area). It takes out some of the risks of starting a business completely from scratch.
Yes it was defi nitely less of a risk, plus it was affordable and I felt there was less chance of something going wrong. In addition Riverford offered a very good business plan, which suited us perfectly. However, my wife Zoe is an account director and she’ll be keeping her job in order to provide a bit of security for us during the initial few months while we’re getting the business off the ground.
Do you feel ready to begin trading? Yes, I feel ready to hit the ground running and we’re both really looking forward to it. I imagine that the fi rst fi ve months are going to be pretty hectic and we’ll be working on trying to build relationships and a rapport with our customers. We’re hoping that after the fi rst few months things will settle down and we’ll be able to gain a better work-life balance.
What are you hoping to gain by taking on a franchise?
We’re basically just looking to improve the quality of our life, I’m not sure if it will necessarily raise our standard of living, but it will certainly give us more fl exibility.
April 2012 |
Businessfranchise.com | 31
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