Special Feature
Western Provident Association (WPA)
Michael Dow
Michael previously worked for several major banks before beginning trading with WPA in February 2009. He is a senior partner and covers the Mid Ulster area.
What did you do before franchising? Before I became a healthcare partner with WPA in 2009, I was working for a high-street bank in Belfast as a financial planning manager and covered branches across Northern Ireland.
What drew you to franchising and WPA in particular?
I was looking for a career change. I wanted to work for myself with control of my own future. It was the right time for me to start a business.
I looked at the marketplace and liked the idea of a franchise opportunity rather than the new start situation, which, from my banking experience, could result in a higher level of risk. Having looked at other health insurance providers and broker opportunities, it was clear that WPA was highly respected in the marketplace and offered the franchise opportunity that I was looking for with a reasonable level of investment.
Why a franchise in the white-collar sector?
I had worked in financial services for 20- plus years and wanted to stay within the sector. While I hadn’t been directly involved in providing advice in the area of private medical insurance, from speaking with my corporate and private clients it was clear that it was an area of need high on their list
of priorities. I visited WPA on one of its open days;
it was refreshing to be able to speak with existing franchisees, as well as those managing the various departments. It was clear that WPA as a provident organisation had a family feel to it and had the best interests of its customers as its primary driver.
How did you find the initial training and support? What is the ongoing support like?
The initial training and support was excellent and very professional, promoting confidence in WPA as an organisation and in ourselves as new franchisees. The involvement of existing franchisees added to the experience.
The ongoing support has been as
promised by WPA. They are extremely accessible and there is always someone available to help with any query.
How have you found trading so far? Over the last seven years we have grown our business year-on-year. The health insurance market is a challenging environment, but with unique features such as shared responsibility offered by WPA, we are always in a good position to compete with other providers. Customer service is everything in our business and satisfied clients result in regular referrals.
In what ways has your life changed since running your franchise? My life has changed in many ways. When I left my previous employer, it was as if a weight had been lifted from my shoulders. I regained control of my life and, as a result, I have a better work-life balance. As I have often said to others, I have never regretted leaving my previous working life behind; it had become a never-ending cycle of performance standards, activity reporting and meetings about meetings. Of course, it can be hard work with long days, but the feeling of achievement and satisfaction gained is incalculable.
Would you recommend franchising to others?
I would definitely recommend franchising to those wishing to start their own business with an established support structure in place. It offers the correct balance between risk and reward.
What are your short- and long-term plans for the future? We plan to continue to grow our business by offering good advice and value to our clients. Longer term, we will encourage others to consider their own franchise with WPA or to perhaps join our organisation as an account manager. Our client portfolio has increased considerably from when we purchased our franchise in 2009.
October 2016 |
BusinessFranchise.com | 79
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