22
FOUNDER AND CHAIRMAN, DUBLCHECK “SPEAK TO EXISTING FRANCHISEES”
r
e
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CAROL STEWART-GILL
demonstrate the bene ts and reality of being franchisee to join in the rst place.
WHEN LOOKING at a franchise, it is good part of the franchise network. And do ensure Do choose a franchise carefully to re ect
to look for a well-established brand which that the franchisor offers comprehensive and your own skills and expertise, and don’t
has demonstrated a track record of success relevant training – this should be con rmed by forget to consider where you may need
in a business sector which is sustainable. talking to existing franchisees. some support. Choose a franchise which
Established franchisors like Dublcheck, which Do remember that you are investing in a enables you to use your natural opportunities
celebrated its 15
th
birthday last year and tried and tested business model. When the and skills – for example, if you are not
retains over 90% of its clients year on year, can research is complete and a decision is made, comfortable in a sales arena, try to nd a
demonstrate just that. any new franchisees must follow the system franchise which does some or all of the
Reputable franchisors will have no problem prescribed by the franchisor, and not try to selling for you. A good franchisor will always
in allowing prospective franchisees to speak to re-invent the wheel – after all, it is this that have solutions to problems, because, after all,
a number of existing franchisees in order to they have invested in, and what convinced the they’ve been there before.
CHIEF EXECUTIVE, CHIPSAWAY “DO YOUR HOMEWORK”
LIOYD EVANS
FOR AN increasing competitors – but most importantly of all, check Do check what happens if things go wrong. Find
number of people out your own suitability for self-employment. out if and how the company is prepared to invest
facing redundancy Do ask about training, and comprehensive back into its franchisees’ business. Good franchisors
or worried about training and support from your franchisor. will not stand by and watch hard working
their long-term Those rst few months out there on your own franchisees fail, but should be prepared to invest in
employment are undoubtedly the toughest and can be the extra support or training wherever possible.
prospects, franchising loneliest too; therefore a good business developer, On the other hand, if your business goes great
offers a real, lower providing one-to-one mentoring and practical guns, nd out whether your success triggers a
risk alternative. But hands-on help, can be invaluable in the early package of bene ts that will enable you to build
don’t assume that days. So check out the support structure of your and develop your business. So choose wisely,
you are buying a job. potential franchisor. Good communication is and be prepared to put in 100% enthusiasm and
Naturally, simply buying a franchise can’t crucial. hard work.
guarantee success in self-employment. It can
provide a blueprint for a pro table business,
but ultimately it will be your business and your
responsibility to make a success of it.
So before you reach for your chequebook, do
your homework. Check out the market potential,
check out the franchisor, the brand, the franchise
package and the franchise contract. Check your
DO’S AND DON’TS: CHECKLIST
Do choose your franchisor carefully, and talk to existing franchisees too. Don’t underestimate the sheer drive, energy and hard work it takes to
build a successful business.
Do make sure you have enough working capital.
Do keep giving it 100%, and learn from mistakes. It’s your business, not
Do use your entrepreneurial and talents and talents to build the
just a job for life.
business, and improve the fortunes of the whole group where
appropriate. Do call on the help of your franchisor, and fellow franchisees.
Do get your family on board – their support is vital. And do think in the long term, to build a successful and saleable
investment that could one day fund a happy retirement in the sun.
Don’t try and re-invent the wheel – you’ve invested in a tried-and-tested
business model, so changing it could be disastrous.
April 2009
www.businessfranchise.com
BF019-022_SpecialFture_Apr09.indd 4 26/2/09 10:48:02
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