Now is the Time to Franchise
Seasoned businessman and Franchise Consultant for Franchise Development Services (FDS) Anglia, Nick Williams, has seen the rise and fall of countless companies throughout his tenure in the industry. He tells Gareth Samuel why he believes 2014 is the ideal time to look at franchising.
As soon as our interview begins, Nick bursts into life explaining his recent experiences of franchising. “There seems to now be growing anecdotal and concrete evidence that people are gaining in confidence,” explains Nick. “That people are taking steps that were previously in the back of their minds.”
Industry sources, including The bfa, are unanimously reporting a widespread increase in business activity across franchising generally. Having seen these increases first hand, Nick believes that franchising is set to enter a golden age. “We are seeing would-be franchisors coming to the market where 12 months ago we weren’t seeing them,” he adds. “I think there are number of things that have triggered this. “They as business people can now see confidence coming back to the economy, and as business people tend to take a longer term view, they are gearing up ready for that expected freer approach by consumers and they are faced with a challenge.
“Most businesses that have managed to survive the past four, five, six years have had whatever cash assets they have severely depleted. Most have had to slim down on their resources in terms of HR and so here they are at the point of an upturn.
“Traditionally in economics, at the point of an upturn, the weakest companies that have struggled go under, because they have no resources on which to call. As the market demands activity, they cannot supply to it. Therefore their stronger competitors tend to come to the fore. “If you have a half decent business and you want to grow it, what are you going to do? Your cash reserves have probably been eaten into and you have likely got the management team down as thin as it can go. But you have a good idea or a good product or a good brand. You know that demand is going to build up, you need to act on that. The best way must be franchising.”
This confidence in the economy and the franchising structure is not borne out of misplaced optimism – Nick’s direct mannerisms hold all the hallmarks of an ardent realist. Nick has been a leading consultant at FDS since the millennium. Prior to his current occupation he held a senior management position at Barclay’s Bank PLC – his knowledge of business practices therefore is unsurprisingly resolute.
Nick’s explanation of why more businesses than ever are choosing to franchise is in-keeping with his philosophy on the successful development of a solid franchise model. He believes it is essential the services of a bfa-registered consultant be employed to ensure sound, experienced advice. He concludes: “Changes in the market have allowed some advisors to operate under the label of consultant but who do not meet the standards set by the bfa. Now is a perfect opportunity to move forward and indeed this is a great time to look at franchising as the industry picks up with a bfa acredited consultant by your side.”
Nick Williams is available to advise and assist any business looking to franchise on how to do so effectively. Call FDS today to discover whether franchising is right for you.