Could 2025 mark a turning point in your career? The Christmas holidays are often a time when people take stock of how the outgoing year has been for them professionally as well as personally. And sometimes that reflection leads to the realisation that change is needed.
But deciding on the direction to take can be hard. You might be weighing up whether you should apply for a role with another employer. Or you might start wondering whether the time has come to explore self-employment as an option. If that’s the case, remember self-employment doesn’t only mean setting up a business from scratch. You could also consider whether investing in a franchise might turn out to be a good fit for you.
Could franchising suit you?
Basically, a franchise opportunity is created when an already established business allows others to trade under its name. When you take on a franchise, you’ll follow an operational framework that’s already been proven to work. It really suits people who like the idea of running their own business but who value the structure, support and guidance that’s available from the franchisor.
All franchisors will define the specific way that the franchise should be run but there’s variability in terms of how precisely defined the operational framework is. Some can be very specific. With others, there’s more scope for flexibility. So it all depends on what you’re after. Some people will like the idea of having a very precise approach to follow. Others will find a franchise that lets them put a much more personal stamp on the way they run things suits them better.
It’s important to appreciate there won’t be a regular salary from day one. You’re still setting up your own business, it’ll take hard work to make a success of it and
there are no guarantees. But on the other hand, while there’s risk, it’s at a far lower level than starting a completely new business. And there are many other benefits associated with investing in a franchise.
The benefits of franchising
Here are just a few of the positives of taking on a franchise…
· You’re part of an established brand
Perhaps the most obvious benefit is that from the moment you launch, you’re part of an established, and often relatively well-known, brand. Don’t underestimate how valuable that is! Launching a new brand and then building up a name for yourself can take a very long time. When you invest in a franchise, you’re way down the line already. If you’ve done your research and gone for a franchisor with an excellent reputation, you’ll benefit from that association instantly. You might also find yourself able to take advantage of an already established customer base.
“I like the flexibility and variety that comes with the work and I like knowing I have the support of a well-established company who have an excellent professional reputation.” Lee Fowler – Wirral branch
· You’ve a ready-made blueprint for success
Having immediate access to tried and tested processes is a fantastic way to get you up and running quickly. Far more quickly than if you’re building a business up from nothing. New business startups often have to backtrack and change course several times if things aren’t going to plan. When you invest in a franchise, you already know the framework has been refined; before your business launches, you’ll be given thorough training based on tried and tested processes to maximise your chances of success as soon as possible
· There’s ongoing support
Running a business on your own can feel quite lonely. But when you launch a franchise business, it’s different because you have a support team right there, ready to help and offer guidance with any issues you come across. The level of support available will vary. In some cases, the head office team might give ongoing support with operational activity like tendering, recruitment and marketing. Others may not offer all that – but you’ll still always have someone to call on if needed.
“The training to get up and running was personalised to support myself and our engineer as we were both new to the industry, with lots of information and guidance relating to the products themselves and the quality standards. And since launching my branch, the ongoing support’s been excellent.” Sam Bradley – Bromley Branch
· You’ll get help with finances
When it comes to finances, there are several ways franchises can be better options than launching from scratch. There can be easier access to funding; lenders tend to view established franchises as lower risk. Franchisors will often get involved with helping you create your business plan too.
Once you’ve launched, you might also get support with activities like running payroll and accounting. You could also benefit from reduced buying costs thanks to economies of scale from trading under the franchisor’s name.
Would you like to know more about franchising?
If you like what you’ve heard and want to discover more about franchising, the British Franchise Association’s website is a useful source of information. And if you’d like to find out more about our franchise, which has recently made the prestigious Elite Franchise Top 100, then please don’t hesitate to contact us to arrange a chat.
