The smart choice for an Entrepreneur
A recent article broadcasted on the BBC presented us with some interesting, negative, points from successful entrepreneurs. So, we thought we would share just a few of the recent success stories that we have published in The Franchise Magazine. Some of these might have you changing your mind and instead join a network that can offer you the support, guidance and the lifestyle that you desire.
The magic number
Sabhi, Fasir and Wajeeh discovered the CeX franchise way back in 2006, but lacked the necessary funding at the time to proceed. However, the trio never forgot about the 'vibrant atmosphere' that each CeX store has and its appeal as a business opportunity worth pursuing. A few years later, they finally made their dream investment and began their training. Sabhi explains: "The training included an initial induction with a follow up three-day store experience. From there, the requirement was that I completed a minimum of 400 hours, which included working right the way through from sales assistant to running a store."
The brothers hit their first-year annual £950,000 target after trading for just eight months and are looking to expand the business into new territories around the country – an expansionist ideal that is actively encouraged by the CeX Support Centre.
When asked whether investing in a CeX franchise has been everything they expected, their answer encapsulates everything a CeX franchise provides: "Yes, 100%. It is a lot of hard work but very rewarding. It is a fun place to be in and has been nothing less than what I expected."
Wizards in the kitchen
Keith Walton has only just launched his own Oven Wizards franchise in Chelmsford area and already is off to a flying start. When we asked what was the main appeal of Oven Wizards, his answer was simple: "I needed to ensure that any franchise I purchased had the opportunity for growth to enable me to maintain the standard of living for my family, whilst freeing up time to ensure I was able to go to school plays, rugby matches etc.”
Keith spoke about the training that he received while setting up and why it was so effective: "Choosing Oven Wizards was a no brainer as they have been running since 2004, with a great degree of success. John Graham and Mark Abbott, the Franchise owners, had already done the hard work of setting up training, arranging contacts for the supplies, advertising and stationery, etc., including everything needed for the first 3 months of trading was included in the franchise cost"
Paul is Ryding on a wave of success
When The Franchise Magazine first met Paul Ryder he had just opened his first Northwood franchise in Eastbourne, five years later Paul is still working hard building his lettings empire.
Paul knew he wanted to invest in a franchise that was flexible and able to move with the market at a time of financial uncertainty. "The economy wasn't too stable at the time, meaning growing a business from scratch would have been fraught with risk, so I decided to look into franchising as a lower risk alternative."
Paul set himself a target of opening two offices with five years; after only four years Paul achieved this goal and opened his second office in Hastings in 2012. Paul was keen to tell us how he believes this success was possible. "I don't think we would have had the same level of success without Northwood's fantastic support. There are always a multitude of concerns for anyone opening a new business, especially when the market is uncertain, but looking back I would do it all over again and wouldn't hesitate recommending Northwood to anyone."
Some of the biggest benefits of franchising are the support you aquire from the franchisor, as Paul explains: "From marking out the office space to negotiating funding, Northwood were a constant support every step of the way. The team at the franchise office have always been on hand to answer any of my queries."
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