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Ask the expert s


D AN AR C HER


Managing director at Visiting Angels UK


u Gaining the knowledge that there’s a fairly secure future for your chosen industry is vital before investing in a franchise. And while there’s no cast-iron,


watertight guarantee of future stability and success in business it helps to enquire about some of the following: Ÿ Is the industry the franchise operates in currently in good health?


Ÿ How established is the sector? There’s no right or wrong answer here, since new and emerging industries hold great opportunities, whereas those with longevity can offer an investor a certain amount of reassurance that the business is ‘evergreen’. (Of course, all industries are subject to trends, technology and legislation.)


Ÿ Is the demographic that the franchise brand serves a captive audience and/or growth market?


How do I know if I'm joining a fra nchise in a growth industry ?


Another crucial factor is whether the product or service is – or will be – in demand in the territory you are looking at operating in. A franchise, by its very nature, should be replicable elsewhere, but some regions will inevitably require certain services more than others. The at-home care industry is


experiencing enormous growth in this country where an increasing ageing population is vocal in its desire to remain living at home in old age. At Visiting Angels, a successful US care franchise now launching in the UK, we are fi nding that a nationwide need for high-quality care is on the rise.


But, remember! Don’t just invest in a


franchise solely because it operates within a growing market – buy a business because you believe in it and you have a passion for the sector.


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