Taking
the year to come. For many people, once the festivities – and the sore heads! – are over, it’s time to set new year resolutions. If this includes taking a hard look at
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your career and work/life balance, then possibly you are thinking about starting your own business in 2024? It might well have been your ambition for some time – hankering to be your own boss but never quite knowing where to start.
Is franchising right for you? If that’s the case, then franchising could well offer the opportunity to realise your dreams and take the leap from employment to working for yourself – but importantly, not by yourself. Being part of a network, having the support and guidance of the franchisor and fellow franchisees can prove to be invaluable assets as you grow a successful, profitable business. And franchising offers a whole host of benefits versus starting out on your own.
6 reasons franchising is great:
A franchise offers a tried-and- tested, proven business formula
s another year dawns, it’s often the time we reflect on the past year, to look ahead and consider our goals and objectives for
– a blueprint for operating a business – with systems, processes, technologies, marketing strategies, business support in place to help you grow your business from day one. Put simply, a franchise offers the opportunity to start your business and benefit from the franchisor’s know-how, expertise, and business knowledge. The mistakes that are often inherent in new, stand-alone start-ups will typically have been ironed out in a franchise system, meaning your business is up-and-running more quickly, and potentially more profitably than going it alone.
structures, will help to ensure their franchise network will be successful. Training, access to resources, operating practices, marketing and support are invaluable – and not to be underestimated by prospective new franchise business owners.
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It offers a comprehensive range of business support structures, such
as initial training, start-up advice and guidance, and ongoing support based on the franchisor’s own experience and expertise in developing and growing the business.
“Franchise businesses are attractive to lenders; securing finance can be more straightforward, and franchises will typically achieve profitability more quickly, than independent start-ups”
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It gives you access to an industry or market sector that you have
always wanted to work in, or that you have a genuine passion for, but don’t have the experience – or confidence – to set up a business. Many franchisors are comfortable recruiting new franchisees from outside their specific sector in the knowledge that their training programmes, and support
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It saves you time and money researching a market, developing
a brand, the proposition, routes to market, marketing activities and choosing the best technologies, just to name a few factors to consider and plan when launching a new business venture. An established franchise will have all these factors in place from branding, a website, social media, technologies,
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