FROM THE BRITISH FRANCHISE ASSOCIATION


The UK’s voluntary self-regulating governing body for franchising


On your marks


The franchise advantage in the first weeks of business


and enterprise to maximise its potential. By contrast, as an independent business


owner, you make the decisions regarding every aspect of the business such as marketing, operational procedures, sales techniques, branding and so on – complete operational control. But fledgling businesses, with all the freedom they enjoy, must work with whatever level of support and back-up expertise they can both afford and accurately source.


Design, branding, marketing, website, finance, admin, cashflow, accountants... there’s plenty to organise just to get off the ground before you can start targeting customers or clients.


S


tatistically speaking, franchising has demonstrated its value to people starting their own businesses time and again. For more than 20 consecutive years, according to the annual


British Franchise Association / NatWest Franchise Survey, around 90 per cent of franchisees report a profit, and less than five per cent of franchise businesses fail. By contrast, around half of all independent SME start-ups are reported to cease trading within three years.


In the early days of starting a business, the benefits inherent in franchising are particularly amplified – and it is these advantages that contribute greatly to the success of franchise start-ups relative to independent businesses.


Establishing a brand can be one of the biggest challenges in making a business


22 | Businessfranchise.com | March 2015


successful, but franchising provides the security of a proven business system, a protected brand, ongoing support from the wider network and an already- developed operation that has been ‘tried and tested’ in the marketplace. A franchise brand is, at a minimum, well known in its local area, and many are renowned nationally or even internationally. As franchisees are working under such an established trading name, usually with marketing support from their franchisor, they are able to focus their efforts from day one on developing a business and customer base in their own territory without needing to divert time and resources towards refining systems and / or processes solutions, for example. You are following a business model


and are expected to broadly stick to the system, whilst adding your own personality


By covering all that and more, buying into an ethical franchise means buying into an array of training and support packages created and run by the franchisor, and access to developmental training to support the business as it expands. This support allows franchisees to start out and grow from a position of complete preparedness, with guidance from people who have already experienced the early days of the business (whether franchisor, other franchisees, or both). From before you’ve even begun to trade, you should be provided with the systems to establish yourself and grow. It’s worth noting that following such systems is not for everybody. The most free-spirited entrepreneurs may want more decision-making control over all aspects of the business; franchisors are receptive to new ideas, but not to a complete re- working of their model. As the old adage in the sector goes, franchising is being ‘in business for yourself but not by yourself’, and whilst you may have less freedom over certain aspects, you’ll have back-up and support at the end of a phone or email. In the difficult early days of starting any business, this can help you avoid some sleepless nights, or even make the difference between persevering on and deciding it’s just too difficult to get things going properly.


Anyone going into business for themselves needs dedication, tenacity, a hard-work ethic, passion and the support of family and / or friends if they are to prevail. If you can combine these traits and skills with the inherent advantages of franchising, then you give yourself every chance of getting off to the perfect start. n


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