Market Focus
T
he beauty of franchising is that it presents the option to buy a business in a sector completely new to you, as a franchisor will offer comprehensive training and
back-up should there be anything you are unsure of. This means an executive can enter into virtually any market they deem worthy of investment, as they will have the commercial knowledge and business skills that the franchisor desires and any essential industry-specific training will be given prior to launch.
One such company seeking investors with business experience is Good Companions, which provides high-quality domiciliary and live-in care to the private care market but is also focussed on delivering and competing to deliver a range of additional services to multiple markets. David Johnson, business development manager for the group, comments: “Profitable long-term local authority and NHS contracts provide the potential for increased economies of scale, increased revenues and added profitability. Our model provides multiple income streams and marketing opportunities as well as a more robust business capable of achieving faster rates of growth. “This will be language routinely used
NIC SERVICES GROUP
by executives in any business sector and many of the terms and goals described above are common to many different types of industry.
“An experienced business executive brings additional qualities, strengths, skills and knowledge that further enhance the financial performance, development and growth of the franchise business. Good Companions hope to work in partnership with many entrepreneurial executives who have a personal interest in developing their own business.”
“The key is to be able to build relationships”
Many business models allow for the employment of a manager to take care of daily operations, leaving the investor to concentrate on business development. This type of director role means that, after the initial few months spent training staff and building up a client base, you will eventually have the benefit of flexible working hours. If you want a more active role, there are many business-to-business service
B 62 |
Businessfranchise.com | October 2014
rian Pestana joined NIC over 3 and a half years ago and has found great success running his management franchise alongside his wife Carola.
What did you do prior to franchising? Prior to joining NIC, I worked in the corporate world. I was managing director in my two previous jobs, but grew tired of the long hours and extensive travel.
How does this previous experience help in the day-to-day running of your franchise?
My business acumen and skills in sales and management have been extremely useful. NIC caught my attention because it is a management opportunity, allowing me to concentrate on the business
providers that require individuals with commercial expertise and sales knowledge in order to establish their franchise efficiently and manage business relationships effectively. Red Flag Alert offer a business intelligence service to small- and medium- sized enterprises and many of their clients are solicitors and accounts. Those with a professional or executive background are better placed to provide their service to clients, as they will be experienced at building the relationships that are central to the success of the business. Dan Archer, Red Flag Alert franchise
director, says: “We recognise that few franchisees will have direct experience of our industry so we are really looking for the sort of transferrable business skills that people from a white-collar background tend to have in abundance, such as commercial understanding, financial and legal knowledge, experience in organising and leading meetings, training skills and sales understanding.
“Executives will have a better understanding of business, legal or accountancy matters and are more familiar with dealing with other business people.” Here, three individuals with an executive
background describe their transition from to employment to franchise.
rather than the actual cleaning.
What kind of support do NIC provide? NIC provide full training, including a practical course to teach you all about the skills you need for the cleaning industry. The support is there for you to build on and if you require advice you can phone head office at any time for some help or guidance. Having the backing of NIC has been invaluable.
How has investing in a franchise improved your lifestyle? It’s had a very positive effect on our lives. Working for ourselves has given us the chance to really change our lifestyle; although we still work hard, the hours we work are more flexible. We are able to take time out on a regular basis to spend more quality time as a family.
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