FEATURE
the pandemic, our turnover grew by 48% to £4m – a number I could never had dreamed of when I leſt district nursing a decade ago.
Having founded Mercury Franchise School in 2016, I have also helped health and social care providers set up their own franchises in more than 30 different areas.
I only work a 15-hour week, so I have plenty of time to spend with my children and partner, as well as to ride my horse. The days when I woke up still tired, had constant stomach knots and couldn’t get excited about my home care business are long gone. I have fallen back in love with caregiving, which is what I first set out to do.
Almost half (44%) of respondents to the latest NHS Staff Survey reported feeling unwell as a result of work-related stress in the last 12 months. Excessive workload was cited as a key factor in burnout amongst caregivers in the cross- party report ‘Workforce burnout and resilience in the NHS and social care’ (June 2021). There has never been a more important time to consider the question: How can I grow my business in a healthy, sustainable way?
YOUR CARE BUSINESS IS READY FOR FRANCHISING IF…
You have been trading for at least 12 months Studios typically broadcast a pilot show to gauge the popularity of a new television programme before commissioning an entire series. Similarly, franchisees need evidence that a business functionally works – complete with a cast (the people who work there), a plot (what happens day to day) and an objective (the mission). This proof of concept is known as a ‘Pilot Business Model’. Perfection is not expected, but future promise is.
You can evidence that you have made a profit
Potential franchisees need to see that a business is profitable. Whatever system is in place – account management soſtware or an Excel spreadsheet – franchisors need two columns: what’s coming in and what’s going out. A profit of at least 10% is considered a healthy indicator of whether a business is franchisable. Operations that currently run on a part-time basis can be assessed for full-time profitability by a good accountant.
twitter.com/TomorrowsCare
Your systems are embedded and functional From how the business markets itself and issues invoices to its operating manual, policies and procedures, companies that have structured, easy-to-follow systems have greater franchising potential. If these systems are not already in place, then it’s not too late to start thinking about what is working well and what could be improved, and then make necessary changes. Getting the business ready to be franchised is an invitation to consider it in a whole new light.
Your business is replicable Could the business concept be introduced to another area of the country? Could someone else run it just as well? Is the brand and trademark fully owned by the founder, and do they have the rights to allow others to use them? A business must be replicable to be franchisable – that is to say, it must be possible to make exact copies over and over again.
You do not want to increase your borrowing Franchisees pay to buy outlets in a business; therefore, business owners who do not want to touch their own capital, or go to lenders to grow their locations, can still expand beyond their current footprint. The franchisee, as an independent contractor, remains wholly responsible for financing their franchise.
You believe in attracting the brightest new talent Franchisees are motivated to work hard and remain committed, as they need to run their business to return a profit. Franchisors, therefore, are ideally placed to attract the best talent – people who share their values and vision. Business owners who choose to franchise also retain overall control over which locations are a desirable fit for their brand.
You have a bigger purpose driving your success Micro health and social care businesses that serve a defined customer base in one location are one proposition. Replicating that business model regionally or nationwide is another. Franchisable businesses are oſten the outcome of a calling to serve others en masse; show up on a greater scale; to bring about systemic change; or to embed best practice across multiple locations. Business owners who have a bigger purpose may find that franchising is the vehicle that can help them achieve their goals whilst managing their own health needs in the process.
www.mercuryfranchiseschool.com - 25 -
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40
