You only have to turn on the TV or radio to be reminded that the country is in a pretty bad state at the moment. So is it really a good time to be contemplating leaving the security of paid employment for the freedom of running your own business? For some it's not an option, with so many redundancies and so few jobs available people looking for different types of employment are often discovering franchising for the first time.
There are, however, a number of things to consider when choosing a franchise in the current economic climate. Ask yourself and the franchisor how the downturn is affecting business and that of the existing franchisees in the network. Remember if you can attain steady growth and profitability in the lean times then you should be able to really prosper when the economy picks up.
While lots of businesses suffer badly during a recession, there are some that remain relatively unaffected and some that actually flourish. Local Services offer franchisees the opportunity to retrain with a valuable trade. As well as starting a business you can also become a qualified CORGI gas installer, a plumber, an electrician or even a tiler or decorator. In addition to catering to the needs of the poorly serviced domestic market the company also has a large portfolio of blue chip clients. These clients consistently provide franchisees with 50 to 60 per cent of business. The dedicated sales and marketing team at head office are forecasting this volume of work to double over the coming year. Virtually all of the work is essential maintenance, this coupled with local domestic marketing campaigns both online and in traditional printed media ensure consistent growth for franchisees year on year.
Published: 11 February 2009
Back to news