Are you considering whether franchising might be right for you? If so, the more research you do, the more apparent it will be that there are a lot of different franchise types! So it’s important to work out which franchise models are most likely to meet your aspirations.
A quick overview of the management franchise model
One of the most popular options is a management franchise (the model that our franchise is based on). Unlike many other types of franchise, a management franchise generally doesn’t involve the franchise owner in carrying out the day-to-day activities required to provide the service or product directly to customers. Instead, their focus is on managing the overall operations of the business.
What does that mean in practical terms?
As a management franchise owner, you’ll usually be involved in carrying out activities like recruiting and managing employees (and potentially other members of the team like contractors) to bring in and develop the specific skills needed to deliver the service or product. You’ll be involved in managing the financials and business development activities and making sure you’re meeting the performance targets. Depending on your choice of franchise, you can expect to get some support in these areas from the franchisor, and you’ll usually find the franchisor takes the lead in areas like marketing and product development too.
A more flexible lifestyle
There’s no avoiding the fact that running any kind of business is demanding and takes motivation, hard work and commitment. But there are several advantages to the management franchise model including the fact that once it’s up and running, it can enable a good degree of flexibility. That can be in terms of location; many management franchises can be run from home helping to keep overheads far lower than if a physical premises is required. But it can also offer a better work-life balance; as you’re less likely to be involved in the everyday operational aspects, it can create more flexibility in your schedule and help you fit your work around other aspects of your life.
Are you thinking about switching to a new sector?
Management franchises can also enable greater flexibility over your choice of sector too. You might feel you’re ready for a new challenge, but a move into a sector where you don’t have experience feels daunting. A management franchise could help you resolve this. You aren’t the one who needs the technical know-how to carry out the day-to-day work. What’s more important is having genuine enthusiasm for the new sector you’re looking at combined with having the right transferable management skills. You’ll find management franchises in many different sectors – so if change is something that appeals to you, you’ll find there’s plenty of choice.
And you will of course learn more about the new sector very quickly as your franchisor will provide you with training. The Jackson Fire and Security franchise for example provides in depth training initially through your induction, then builds on that with ongoing development for you and your team.
Management franchises have good growth potential
As a management franchise owner, you’re not limited by being the one who has to directly perform the service. That creates more scope to expand operations and grow your business by increasing the number of clients you have and bringing in more employees to support that scaling up. Depending on the franchise, you might even be able to buy additional territories or expand into new regions.
What skills do you need to run a management franchise?
A management franchise offers a blend of autonomy and support from an established brand and there are many benefits to running this kind of franchise.
But it’s important to assess whether it’s a model that will fit with your personality, skills and long-term goals.
If you have leadership experience, and a focus on driving results through others, then a management franchise could be an ideal match. You’ll need to have strong people skills, both for recruiting the right team then supporting them as they carry out their work, and for dealing with any issues that arise. Commercial acumen and financial management skills are vital too as is the ability to build good business relationships and ensure that customers receive high standards of service.
Could a management franchise suit you?
If you have strong management skills and want to own a business without having all the risks associated with starting from scratch, a management franchise might be the ideal choice for you. If you think you might be interested in learning more about opening a management franchise in the fire and security sector, please do get in touch with us.
