NEWSFOCUS
Do what you love A
The UK is full of ‘passionpreneurs’, which bodes well for franchisors, finds Katie Shevlin
new survey has revealed that 80 per cent of British workers would give up their day job to start a new business linked to a hobby or a passion of theirs if money
was no object. Nearly half have little to no interest in their current career, with the passion gone for good for 56 per cent of us when we hit 45 years , according to Amway UK Ltd, a world-leading direct selling company who commissioned the research.
The findings show that a new hobby inspires a quarter of us to give up the day job and become an entrepreneur. For women, running a business linked to food and drink is the dream, whereas for men, it’s their passion for outdoor activities and sport.
Collectively, the top ten passions that British workers would like to turn into a business are: 1. Food and drink (21%) 2. Sport and fitness (12%) 3. Creative arts (9%) 4. Home design (8%) 5. Fashion design (7.8%) 6. Digital and IT innovation (7.6%) 7. ‘Boys toys’ (6.6%) 8. Journalism / blogging (6.2%) 9. Wellbeing (5.3%) 10. Performing arts (4.4%)
Not only is a nation of ‘passionpreneurs’ good news for fans of portmanteaus (no? Just me?), it is also an encouraging finding for franchisors. With many franchisors operating in
the sectors listed above, this survey illustrates the huge potential for franchisors in finding individuals that are passionate about their service offering and keen to take up a career in that field.
A passionpreneur bears many similarities to a franchisee. According to the survey, the top five skills needed to be a successful passionpreneur are: passion, determination, self-discipline, energy and stamina and business knowledge; all attributes commonly cited by franchisors when asking what they look for in candidates. The survey also revealed that British workers believe the three main barriers to success are lack of money, confidence and business knowledge – three things that a franchise system can provide in the form of support, experience and help with applying for funding from the bank. If the absence of the above prevents people from taking the leap and setting up a business they are passionate about, the more these benefits of franchising are promoted, the bigger, stronger and more attractive the industry will become. n
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