What to look for in a franchise
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Kingsmaid - What to look for in a franchise business
Becoming a franchisee means you can start out in business with the advice and support of experienced business people. Rather than going it alone in their own business, franchisees are far more likely to succeed in their ventures because they’re buying into a tried and tested business idea. But to make sure the odds of succeeding are high, there are important things to look out for when embarking on a franchise business.
Blueprint for success
Choose a franchise that will offer you a blueprint for running your business including clear guidelines and advice to help you get make a success out of it and tips to help you avoid any pitfalls you might come across, particularly in the early days. Look for a franchise that provides full training and dedicated advice. If you choose to manage your own team of staff, find out what training support is offered to get the best out of them too. Finding a franchise that encourages communication between its franchisees is also good for sharing ideas and experiences.
Hands-on help
Select a franchise with a hands-on head office team that still runs its own master franchises. Franchise directors that are doing the same job as you are far more likely to understand your needs and offer you ongoing best practice advice. This is an important driver in a franchise business which should deliver continual improvements in the business practices, products and services offered by the franchise.
Satisfying your interests
Don’t just pick the franchise that offers you the most money: it’s important to find a business that suits your talents and interests. If you’re good at motivating and leading people, select a management franchise that allows you to employ and manage a team of people who will carry out the practical work.
If you are considering a management franchise, you will need skills in people management, sales and marketing, administration, customer care and financial management and it’s important to ask what training and support the franchise will give you in these areas.
Space to grow
Good franchisors will offer you an exclusive and clearly defined territory, with the option of extended this patch and taking on more territories if you do well. This is crucial to enable you to develop your own customer base and grow your business in the future. The terms of this agreement will be laid out in the contract between you and your franchisor and it’s your responsibility to make sure you’re happy with them.
Marketing
Getting your name out there and telling your potential customers what you do is crucial, particularly in the early days. Make sure you know what marketing advice and assistance the franchise provides and look for one that offers liveried vans, templates for flyers and advertisements for your local paper.
Sharron Davies is franchise director of domestic cleaning franchise, Kingsmaid.