Rising out of Redundancy

Are you facing redundancy or simply looking for a better future? If so, consider the advantages of owning and operating a franchised business

The recession is a reality and thousands of people with abilities and skills will be losing their jobs over the next 12 months. Many are living in fear of being laid off and thinking about how to make a new start. If you are facing redundancy, unemployed or unhappy with your present situation, take full advantage by searching for a better way forward - this could become a turning point of not only your career but your entire life.

With over 1,250 different franchise brands now available throughout the UK and the 2008 NatWest/bfa UK Franchise Survey confirming that 95 per cent of all franchise owners report a profit, franchising offers an excellent as well as relatively safe recommendation. The franchise market has opportunities not just for the highly qualified and highly funded - there are opportunities available for as little as £10,000 that are capable of providing an income far greater that the average salary.

FOR YOUR SELF, BUT NOT BY YOURSELF
By choosing to own and operate a franchised business you will be starting a new life as your own boss, but not on your own. You will have the benefit of a franchisor, which will provide mentoring advice and guidance in all aspects operating the business. In other words, they will not only become a valuable mentor, but your business partner.

When you buy into a franchise, you are purchasing the years of experience that the franchisor has gained and what they are offering today is the sum total of all of their successes and failures. What you learn from the franchisor during initial training and your first year of trading should give you a head start that is equal to at least five years of experience in the business. The idea of buying into a franchise is that you will be given not only a head start but continual advice and guidance as to the route that you should follow.

START A BUSINESS WITH TRAINING WHEELS
The initial and ongoing training provided by the franchisor is at the heart of your business. The training provided by the franchisor should be sufficient to comprehensively prepare a layman in all areas of owning, operating and succeeding with the business. One of the most common reasons for franchisor failure is that they do not cost in sufficient initial and ongoing training into the original franchise package so that consequently, when new franchise owners fail to meet realistic expectations, more time and money needs to be invested in them to succeed. It is, therefore, vital to understand the value of investing in a franchise with a comprehensive training programme.

GETTING OFF TO A FLYING START
The franchisor should be able to ensure that within the first few months of you trading you should be achieving projected turnover and profitability. You will not only be buying all the franchisor's purchasing power and knowledge as to how to market and sell your product and services, the franchisor should also help you to ensure that you invest your launch capital wisely.

As a franchise brand matures, brand awareness becomes a major strength. Eventually, when the franchise network is complete, the franchise owners will all benefit from each other's regional advertising as well as at a national level.

CONTINUING GUIDANCE, RESEARCH AND DEVELOPMENT
Every franchise owner needs comprehensive initial assistance and guidance. However, this must also prevail throughout the whole term of the agreement. The franchisor should have a central organisation of very professional people that can provide this advice and guidance in every aspect of the business as and when required. The franchisor is also responsible for ongoing research and development to ensure that the franchise owners remain ahead of their competitors.

WORKING TOGETHER
Both the franchisor and franchise owner represent the brand. Each franchise owner will generate respect for the brand so that whenever the brand is encountered, there is an expected level of service at all times. When you buy into a franchise, you are becoming part of a family where the franchisor and the franchise owners become one under the banner of the brand. Hopefully you can find a happy family franchise brand to join and then, by becoming a committed team member, will be able to translate ideas and business plans into genuine success.

Reported by Roy Seaman CFE