Franchise Advice
“There are plenty of franchise opportunities out there, but fi nding one that really engages and excites you is the most important thing”
I
f you’re asking whether you are ready to become a franchisee, the chances are you’ve reached a career crossroads. It doesn’t matter whether you are in your 20s, 30s or your late 50s, if you want to reboot your working life, a franchise investment will bring about change – and more! Step one on your journey is knowing that you genuinely want to be your own boss and have, or can develop, the passion needed to work in your chosen industry; without this your business will never get started. In addition you need drive and determination to build a successful business and you need to familiar with hard work – particularly in the early days. ‘Stickability’ is a good quality to have – the resilience and the ability push on through the tough times.
Owning and running your own business is not a passport for overnight success and riches – neither does it mean you will not encounter challenges. What will defi ne you is how you approach and resolve these challenges. However, being your own boss and reaping the rewards of hard work is often what brings people into franchising and that goes for professionals of all ages.
If this sounds like you, it’s time to start your research Where to begin? Well, it is very important to be clear on what sector of the market
interests you and what transferable skills you have. There are plenty of franchise opportunities out there, but fi nding one that really engages and excites you is important. Talk to other franchisees in diff erent sectors and at diff erent stages of their business life. You will then get a good overview of what to expect starting a business and the kind of investment you will need to make.
Reality check Don’t look at franchising as a get-rich- quick scheme. All businesses require a lot of hard work and eff ort in the early days and you may not be able to take a more relaxed stance within the business until a few years in. Also, it is important to realise that although this is a franchise, you will ultimately be responsible for your future and at some point you will largely be on your own and the captain of your own ship. Your input and your decisions will determine whether you succeed or not. However, if this vision excites you and is the driving force behind your consideration of a franchise, then go for it! Finally, look to see if your personal goals and dreams align with the business opportunity on off er. If you want to retire in under two years, then paid employment might prove to be a better option rather than running a franchise.
Are you the right fi t? Freely ask a franchisor whose business model interests you what they are looking for in a franchisee. What qualities should they have? What are the day-to-day realities of running the business – and what kind of person is suited to them? Caremark franchisees, for instance, are professionals interested in people and working with people. What unites them is that they all have the drive and ambition to make a big diff erence to the lives of others in their local community, whether that is through providing work for locals or delivering a high-quality service to those on their doorstep.
If someone is ambitious, a good communicator, enjoys networking and meeting new people, and is motivated by building a team around them and working together towards a common, successful goal, then they are the sort of person that we, as franchisors, are interested in working with. Now, having considered all the above it’s time to ask yourself – does this sound like you?
David Glover
is franchise director at healthcare staffi ng supplier Caremark Limited
September 2018 |
BusinessFranchise.com | 47
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