THE BRITISH FRANCHISE ASSOCIATION
THE UK' S VOLUNTARY S ELF - REGUL ATING GOVERNING BODY FOR FRANCHI SING
PIP WILKINS Chief executive, bfa
Pip Wilkins, CEO of the British Franchise Association (bfa), knows the diffi culty of keeping a New Year’s promise. She explains here, however, how to make a good start
C
onfidently announcing your New Year’s resolutions on an evening filled with party poppers and prosecco may seem like a good idea, but
once the countdown has passed and the cheeseboard has been cleared away, the night, and resolutions, usually fade into distant memory. This is supported by the not-so-shocking revelation that 80 percent of resolutions will fail by February. While some resolutions might not
have a huge impact if you don’t keep them, making the decision to become a business owner is a major lifestyle change, and is one that needs attention, commitment, and due diligence. Thinking of this resolution as a long-term goal will put you in a different mindset when taking it on, with franchising providing continued support on this journey.
"To succeed in fra nchisin is to e patient"
A written plan is a good plan It is widely accepted that writing down clear goals will help those goals be achieved. Not only will you have to take a step back and seriously think about what it is you want, and what you have to do to get there, but being able to see these
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goals daily will give you a push in the right direction.
Setting a realistic time frame Don’t set yourself up for failure by giving yourself a mere 12 months to find the right franchise system, as well as complete all training and education, set up the business, and achieve a profit. To succeed in franchising is to be patient, and fully realise the sacrifice and hard work of business ownership. Even in franchising, with all the support, training and brand awareness behind you, it could still take up to 18 months to
make a profit or to break even.
Don’t get discouraged It may prove difficult maintaining excitement for a goal that requires patience and vision. If you feel that things aren’t moving fast enough, acknowledge what you have already achieved, and know slow and steady always wins the franchise race. Remember: building a business is not for the faint-hearted, and franchisors want to know that you have the drive in you to push through the beginning and come out the other side with a flourishing business. l
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