Investment: £50k-£100k
Franchise Focus The word on the street
Mark Holland, managing director of Bodystreet UK, shares his top tips to help you choose the right franchise model for you
INVESTMENT LEVEL: £80,000
task. So we asked Mark Holland to share some of his 20 years of experience in the franchise industry and to shed some light on the question: “where do you start in your search for the right franchise?”
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Defi ne what you wish to achieve To start with, it’s helpful to have a clear vision of what you want to achieve. By fi guring this out, you will be able to determine what will make a good fi t for you and this will help you achieve those goals. You should identify what your primary motivation is and then consider what you enjoy doing. The answer will help you fi gure out ways to combine your passion with your business goals. For me, it was important to fi nd a franchise business I felt passionate about, and when I came across Bodystreet, I was inspired by the concept of just 20 minutes a week to keep in shape. My goal was to build a business that refl ected my personal
ith numerous franchises in a variety of price ranges to choose from, fi nding the right business opportunity is no easy
beliefs, where employees could do well, where clients could be nurtured and where my ethics would not be compromised. I found all of this in Bodystreet.
Do your homework If you already have a franchise in mind, the next step is to fi nd out as much as you can about the history of the business. You will need to fi nd out about the business and the owners, how long it has been established and whether there is a market for what they off er. You will also need to consider any boom-and-bust cycles, and any new legislation that may have a direct impact on the business.
Evaluate your fi nances Taking your capital into account will give you a realistic sense of what franchise opportunities are possible for your budget. Starting on a shoestring budget can be very dangerous – it’s the most common reason for business failure. Like any business, it can take some time before you hit the break-even point, so make sure you have enough money while you fi nd your feet.
At Bodystreet, we help secure funding and can help you with all the necessary business planning to reassure you that it’s a viable opportunity.
“At Bodystreet, we pride ourselves on having an unrivalled support system and a comprehensive franchise package”
Compare training and support systems Ensure that you are completely satisfi ed with the support your franchisor provides; this will be an essential part of your success. At Bodystreet, we pride ourselves on having an unrivalled support system. Our comprehensive franchise package includes a tried-and-tested structure for fi nding, fi tting out and launching your studio. We also help with staff recruitment and deliver the marketing knowhow to build your membership quickly. This type of support is the ideal way to fast-track your route to success, avoiding the usual pitfalls associated with starting a business, and this is what you should look out for when considering investing in a franchise. Years of experience have taught me that the right support from a franchisor should be available from day one, meaning you can get your business working for you as soon as possible. Every successful franchisor should have a tried, tested and perfected business model. They should know what works and what doesn’t, so they can give you all the information and advice you need to get started and keep going successfully.
Bodystreet Health and fi tness
www.bodystreetuk.co.uk franchise@bodystreet.co.uk 01908 766 220
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BusinessFranchise.com | July/August 2018
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