FRANCHISE NEWS The latest reports from businesses in franchising
consider changing career to become a franchisee. The benefits include having a proven business model (58 per cent), franchising being a lower risk than setting up a new business (49 per cent), having access to training and support (41 per cent), and getting to own your own business (38 per cent). Jason Clark, vice president for franchising at McDonald’s, said: “Unsurprisingly, at a time when certain macroeconomic trends are causing uncertainty in business, many senior executives are finding themselves wanting a change in direction – a second career. Many of our franchisees were already operating successful businesses before they came to us, while others have come from prominent careers in the private and public sectors.
A third of over 40s long for a career change
n New research by McDonald’s UK reveals that almost a third (29 per cent) of adults over 40 are likely to consider a career change in the next five years, with 43 per cent of managing directors thinking about a second career. The study, celebrating 30 years since McDonald’s franchised its first restaurant in the UK, found that a quarter of senior company executives over 40 are likely to want to follow a new career path – evidence that career restlessness, often associated with the young, is being echoed among the more experienced in business. The key triggers for people planning a second career are: frustration with
company decisions such as frequent strategy changes (50 per cent); unfulfilled personal ambitions (49 per cent); lack of time with friends and family (40 per cent); insecurity due to constant corporate reorganisations (34 per cent); and travel demands (30 per cent).
Over half stated that they would consider
a new role to establish a better work-life balance (52 per cent), take more personal control over their working life (44 per cent), or maximise their skills and expertise in a way that isn’t possible in their current role (34 per cent).
Due to a feeling of lack of business control, 17 per cent of respondents would
DID YOU KNOW
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A third of prospective franchisees are looking to go into business with a partner or family member
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BusinessFranchise.com | November 2016
“Our franchisees come from all walks of life, but the main thing they have in common is a passion for success. They were drawn to McDonald’s by the challenge and opportunity – giving people with broad senior management experience and entrepreneurial ambitions the chance to build their own business. With much of our future growth based on increased franchising, the opportunities are potentially life changing, opening up new ways of working for experienced corporate leaders.” Pip Wilkins, chief executive of the British Franchise Association, commented: “Franchising is a perfect fit for executives looking for greater control of their professional destiny and to take advantage of the skills they’ve built up in their career to date. Those skills are highly sought after by franchise brands. “It’s no coincidence that the average age of newer franchisees is in their 40s, a time when people feel ready to use the experience they’ve gained to start their own business and reap their own rewards, offering greater flexibility, freedom and balance than corporate life allows. Doing so with the backing of a proven business model like that of McDonald’s is statistically proven to reduce the risk in going it alone and provides support wherever it is needed.”
Source: According to the bfa/NatWest Franchise Survey 2015
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