than you can afford) or going into a franchise that you know Does it have a history of success? Is it financially sound?
little or nothing about. Recognise your strengths and play to What support can it offer? If it ticks all the boxes, then
those, and you will get the most out of your new enterprise. you can be more confident in signing up with a business
that should give you the best chance of success.
M is for MARKETING
If you are starting a business of your own, then you’ll know T is for TRAINING
that a lot of time and money are spent on marketing. With One common denominator that each franchisor shares
franchising, it’s a different kettle of fish, as the franchisor is training. If you are worried that you’ll be catapulted
often (though not always) deals with that for you. into the franchise blind, don’t be. Each franchisor
provides a good training package that takes you through
N is for NEWS everything you need to know about the business – it
Seems we can’t turn on the television or pick up the takes all formats, including classroom-style teaching,
newspapers these days without stumbling across the one-to-one tutorials and on-the-job practical learning.
dreaded “Credit Crunch”. The media might have spiralled
this one out of all proportion, but the damage has been U is for UNITY
done. Franchising is still as healthy as ever – so if you Many franchisors like to create their very own family.
are interested, ignore the doom mongering, follow your The franchisee network consists of people like you,
instincts, and if they tell you to invest in a franchise, go for and they’re designed exactly for newcomers. Other
it. And with that in mind… franchisees can help you in every respect – they can
answer questions, give advice or even offer a shoulder
O is for OPTIMISM to cry on in case things are not going according to plan.
Be optimistic but realistic about your franchise. Don’t expect
your new enterprise to take off faster than a private jet. You V is for VERISIMILITUDE
need to put in a lot of work in order to get the results. If you Ah, who says we don’t teach you anything new? Just
contribute the right amount, and keep a sunny outlook, then so’s you know, verisimilitude is something that only
you may be surprised at the results. appears to be true or real, but backed up without any
evidence. So, when you do your research into the
P is for PRECISION franchise you want, make sure that whatever each
Choose your target with extreme care. Don’t go rushing into franchisor says is backed up with solid proof, eg: figures,
the franchise that you first clap eyes on. You could find that charts, even personal testimonials from franchisees who
it’s either too expensive or not quite the same as you were are living proof that the franchise works.
expecting. Make sure you choose the one you want, as you
will be in this for the long haul. W is for WORK
Don’t expect a free ride with franchising. Your new
Q is for QUIRK business – whatever you choose – will require a hell
So many franchises out there, so many choices. One thing of a lot of hard graft in the early stages. You can recruit
you’ll notice about this industry is the great diversity. Even staff to help you out if you wish, but if you want to see
the ones you wouldn’t think of in the first place such as the rewards, you can’t afford to slouch in that first year.
go-karting, chocolate, or shoes. There’s even a franchise
that shares its name with this listing – The Pauline Quirke X is for XTC
Academy of Performing Arts. Except with an E. The name of a franchise that specialises in discos. And
also the name of a rather good new wave band.
R is for RISK
Running your own business is always risky, due to the dog- Y is for YOU
eat-dog competition out there. And for those worried about Don’t forget that this is all about YOU. Go for the
the economic climate, here’s some statistics to chew over: franchise that is right for YOU. Go for the one that YOU
The NatWest/bfa Franchise Survey 2008 reports that the can afford. Go for the one that plays to YOUR strengths.
industry is now worth £12.4 billion with an average (mean) Go for the one that will make YOU happy.
turnover for a franchised business standing at £360,000.
Z is for ZENITH
S is for SUCCESS The high point of your work career? Time and a lot of
If you want your franchise to work, then it’s worth checking work will tell, but a franchise could be the peak of your
out the past track records of the company that you choose. bank balance, your work life and your own happiness.
13
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126 |
Page 127 |
Page 128 |
Page 129 |
Page 130 |
Page 131 |
Page 132