Is franchising right for you?

Taking the step from employment into self-employment is quite rightly a rather intimidating one. You have to consider finances, security and your future. If you are one of the many people who are considering a franchise business and asking yourself "is franchising right for me?" then there are some key questions that you will need to ask yourself before diving head first into the exciting world of being a franchise owner and you choosing a franchise.

Choosing a Franchise

1. Do you have the necessary skillsets of a successful business person?

The world of franchising is an incredibly diverse one. There are a wide range of UK franchise opportunities available that range from home delivery of well-known brand products such as Trophy Pet Food to providing vehicle repairs such as Revive.

Due to the many business opportunities available, some skills may be required pending on the franchise that you choose and that is right for you. Some franchisors such as ChipsAway do not require you to have any skills or experience in car body repair as they will provide you with the necessary training and support.

Other franchisors such as DNS Accountants will require you to have some form of accountancy experience and training although they also offer guidance and support for your business.

The main qualities sought by a franchisor are dedication, commitment and the right mindset to ensure that your business is successful.

2. Do you handle stress well?

Setting up and running any business is stressful, and this includes franchises (albeit that when compared to starting from scratch they are less so); to this end you need to really consider how you handle stress and approach problems.

Only the most resilient of characters with the most positive of approaches will succeed in having a successful business. Take a look at the various case studies provided by franchisors with regard to the success of their franchisees.

3. How much sleep can you survive on?

For the first few fledging months as a franchise owner you are most likely going to be going to bed late and getting up early. The beginnings of setting up a franchise are then only for the brave hearted who are willing to forgo sleep, as well as weekends, social events and at least a year’s worth of holidays, in exchange for corporate success. You will need to have a high level of dedication and commitment.

4. Have you weighed up your financial situation?

You will need to consider your financial position. A franchisor will require an investment fee which differs pending on the franchise package offered. You will need liquid capital as well as obtain investment to start your franchise.

Most franchisors assist to get your business of the ground to ensure that you start earning an income as soon as possible. Filta Environmental for example offers their franchise owners commitment to increase their profitability year after year. They are dedicated to providing their franchisees with new and improved Environmental Kitchen Solutions, so they can maximise the earnings potential.

5. Will you actually enjoy the franchise business?

Whilst franchising can and does lead to successful futures with increasing profits year on year, it is still important to be realistic. As with starting up your own business you will need lots of determination to make your business successful.

The advantage that you have as a franchise owner is that you have the support of a well-known behind you to offer guidance and support.

Why not use our resources page to find out more about franchising or use our search facility to browse the number of franchise packages and business opportunities so that you can make the best decisions in choosing a franchise that is right for you!

Business To Business franchises you might be interested in..

Eazi Apps

With an Eazi-Apps licence you will be involved with the fastest growth market in history with your own mobile app business.

« read more »

Make enquiryEnquire

activ

Run your own Digital Marketing Franchise with activ and become part of a national network of entrepreneurs building successful, self-employed careers.

« read more »

Make enquiryEnquire

Mediapreneur

Start your own Digital Media Agency Franchise business without any experience with Mediapreneur.

« read more »

Make enquiryEnquire

Certax Accounting

Achieve a great work-life balance, enjoy a great return on investment and build a business that you can grow with the Certax Accountancy Franchise.

« read more »

Make enquiryEnquire

Signs Express

As an established signs and graphics franchise business, Signs Express offers the perfect franchise opportunity in a lucrative and profitable sector.

« read more »

Make enquiryEnquire

Ezy-Clean

Explore existing and established window cleaning franchises for sale across the South East of England.

« read more »

Make enquiryEnquire

What is a Franchise?

Though there are a few different types of ‘franchise’, business format franchising is probably why you are here.

Industry Profile - With franchising a lack of industry experience is no barrier to entry

You do not necessarily have to have direct experience in a certain industry sector to succeed...

Explore Children Development Franchises

This is a sector that is seeing unprecedented growth, with more and more parents looking towards increasingly innovative ways to ensuring their child develops and progresses.

Industry Profile - The Property Industry

With more people renting than ever due to the increasing house prices it truly seems that there has never been a better time to run your own estate and letting agents.

Over-50s are well represented in franchising

Unlike many employers, franchisors largely welcome approaches from people in midlife, appreciating the life skills and business experience that mature people bring.

Franchising - The basics for beginners

Here we talk about the basics of franchising to assist those of you who wish to consider becoming a franchise owner.

Do you have what is takes to become a Franchisee?

Hear from Gail Jordain, Franchise Executive at Riverford Organic Farmers Franchise, the UK's leading Organic Food Business.

Invest in a business that offers excellent financial rewards

Hear from Gary Farrer, Managing Director of the SureCare Franchise as he talks about why investing in a business can offer excellent financial rewards.

Questions to ask a Franchisor

Hear from Franchise Director Simon Bartholomew talking about what a franchisor is looking for within franchisees and what questions you should ask a franchisor.

The Delivery Franchise Sector Is Booming

Here we cover a select few franchise opportunities that demonstrate just how different delivery franchisees can be from one another.

Are you suited to self-employment?

With a franchise you can start the business that you have always dreamed of using your skills and experience to earn a good income for yourself.

Starting a Franchise - 10 reasons to start a franchise

Here we explain why now more than ever may be the right time to start a franchise.

Industry Profile - Mixing Business with Pleasure

Explore the growing array of Pet Franchises and Business Opportunities.

Industry Profile - Clean up with Franchising

It should not come as a surprise that cleaning franchises offer a fantastic opportunity that should not be dismissed. It is a booming business and showing no signs of slowing down.

Industry Profile - Why Care Franchises provide a healthy option in starting a business

If you are a committed and determined entrepreneur that is passionate about the health and wellbeing of other people, then you will thrive in this industry.