Franchise Q&A
A: After making the decision that you want to work for yourself and that franchising is a suitable format for you, it is then hugely important to fi nd the right partner.
David Truby Managing director at Greensleeves
Q: How do I decide if I have found the right franchise for me?
It is sensible to look at your skills and decide which industry sector they suit, as well as asking yourself: do you want to work outdoors? Are you happy working alone? Do you want to be mobile or retail based?
Once you have the answers to these questions and have narrowed the sector down, it is time to start organising some meetings. It is probably a good idea to organise a number of meetings with diff erent companies in the same sector to make some comparisons between them. Try and get an understanding of each
company and how it positions itself within the market. Is its approach based on value for money and cost effi ciency or is it looking more at the high-end/ luxury approach?
It is also important to understand the
company’s own ambitions and long-term strategy regarding products or services. Is it reliant on one simple sales line or does it have plans to diversify into other sectors? Finally, your own business is likely to be much more successful and profi table if you enjoy your working life. It is very important that you like the people you associate and work with, and take time to meet and evaluate as many people in the organisation as you can; be sure you can work with them and start a career you can truly prosper in and enjoy.
A: Once you’ve chosen the sector in which you wish to open your franchise, it’s important to explore the length and depth of training provided by franchisors in that area.
Investigate the franchise you’ve chosen and compare the training that they provide with their competitors in the same sector. Some franchisors only require you to do two days of training, whereas others require weeks or months of initial coaching. More in-depth training demonstrates better value, increasing your chances of success. A crucial and sometimes forgotten aspect of any company is the business administration behind your franchise. It is not all about the day-to-day running of your new business – you need to consider the less exciting paperwork. To reduce the day-to-day stress, some franchisors deliver bookkeeping services, call answering and rental services allowing franchisees to
focus on winning new business. Finally, it is all well and good for a franchisor to guide you through the creation and start-up of your business, but I would encourage any potential franchisee to choose a company that provides ongoing support to help you with the running of your business once you are established. This may be included through an online training hub or central support call centre, enabling you to access the help you need whenever you may need it. At HomeXperts, we were proud to have
created a 12-week kick-start programme, which allows franchisees to launch their business the following Monday after their two-week training academy. Most franchisors will provide ongoing support, but remember that the best companies will include this at no extra cost to ensure that they and you deliver excellence as standard.
Sussanne Chambers
Founder and managing director of HomeXperts
Q: What kind of training can I expect from my franchisor?
December/January 2017 |
BusinessFranchise.com | 31
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