Franchise Q&A Paul Boniface
HR and franchise director at Ableworld
A: A brand can only call itself a franchise if its business model is replicable, ie can be repeated successful in another territory. To seek investors, it must already be in a very good place in terms of commercial strength. Something to consider is what, and
Q: What do I look for to ensure a franchise brand that has longevity?
how strong, is the market that a franchise is catering to? Does the brand have a very broad customer base or a specifi c audience? If it is the latter, that’s not necessarily a bad thing because brands that cater for a niche audience, and do it well, can inspire a great deal of loyalty in – and repeat custom from – its following. Is the franchise part of a growth industry? How has that sector performed generally over the last few years and what is the outlook? Ableworld, for instance, caters to the needs of customers with mobility issues – whether through disability or ageing. As the section of the UK population aged
60-plus increases (but their appetite for life does not!) the demand for Ableworld’s products and services will only increase. Of course, any market that is growing will also become fl ooded with competitors and imitators, so it helps to make sure you are aligned to a brand that can prove its credentials and is an ethical operator. It’s worth asking if they are a member of the the British Franchise Association or do they at the very least run their business to standards that would meet with the Association’s approval? And don’t forget to simply ask about longevity outright! Any franchise brand worth its salt should know its market and customer thoroughly and should be able to prove that there is demand for what their company sells. Feel free to interrogate any franchisor as to how their business is future-proofed.
Q: I’m not a
‘businessperson’ – can I really run my own business?
A: Not everyone is driven to build their own business from scratch or is imbued with an entrepreneurial spirit. In franchising, however, while you are your own boss and will need to be able to motivate yourself, you are not building your business from the ground up. With a franchise model you have the benefi t of an already tried-and- tested business format, as well as the support and training from your franchisor, so it’s not essential that you are already a ‘businessperson’. Yes, some operations will require you to market or ‘sell’ yourself and your business, or be hands-on, or you may need to manage staff . For some franchises it helps if you have industry background, for others it’s irrelevant. Many off er the chance to work
fl exibly, others will still be running along Monday to Friday, nine to fi ve depending on who your customer is.
The question you need to ask yourself is: “What do I really want to do?” – both in your working day and outside of it. At Really Awesome Coff ee, our franchisees come from all walks of life. Very often, they are looking to change up their work-life balance while making a healthy income through a rewarding business.
One of our messages to potential franchisees is: ‘We build your business around your lifestyle.’ But whatever it is that you’re looking for, as long as you have the funds to invest and are not afraid of hard work, there will be something out there for you.
Kevin Haswell Founder of
Really Awesome Coffee
July/August 2018 |
BusinessFranchise.com | 19
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