Tom Stein 3 Franchises located in Leeds and Bradford, West Yorkshire McDonald's
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Why I chose franchisingI felt franchising gave the right combination of running your own business, being your own boss to a certain degree, but with the strength and recognition of working within a well known brand name.
What I did before taking up a franchise
I was a retail manager with Marks & Spencer, followed by a period as a sales & marketing manager with another well-known blue chip company.
How I raised the finance
For those without the requisite available funds, McDonald's has a programme called BFL, which allows purchase equity to be raised from the profits of the business over a period of time.
The training and support I receive from my franchisor
For training, there is a strong programme in place to use the company's facilities for training requirements on an ongoing basis. This can include off the shelf or tailored made, class or restaurant based. This applies to any of my members of staff or managers as the need arises.
There is ongoing franchise field service support in each region, working on a day-to-day basis with the franchisees. The franchisees also have access to any of the other departments within the system, such as H.R., Information Technology, Equipment etc.
The challenges I have faced
The main challenges have been working with diverse young individuals to build up a profitable business, while trying to maintain the high standards expected of a McDonald's franchise in the areas of quality, service and value.
My advice to someone thinking of buying their first franchise
Look very closely at the sector you want to be involved in, and what the future possibilities are for that sector. Speak to as many existing franchisees in the system as possible, and make sure you can see yourself working within that environment, and with that franchisor for a few years to come.
My plans for the future
To continue expanding the business, while at the same time finding time to enjoy other pleasures of life such as family, friends and golf.
