There are over 1000 franchise brands in the UK available for your investment, all of which present a lower risk than what you could expect as an independent start-up. So with this level of opportunity available, it would be a fair assumption to believe a franchise is for everyone and is less work and commitment than going it alone. This is where this presumption is incorrect, let us explain the reality.
Any major financial decision should be based on a good assessment of your options (a franchise is no different) so when deciding to get into business via this route its only right to spend hours, days months and even years accessing a franchisor and the opportunity they present.
During this time you will be looking at the fundamentals such as the model, the support, the financial forecasts, success of the network, the list goes on. However, in most cases, people fail to assess themselves and their suitability for the franchise and indeed the sector of which it operates.
A franchise suits hardworking people who are committed, tenacious, and indeed ambitious but you need to be able to take direction and follow the model the franchisor has laid out for you. The key driver behind all franchise successes is the franchisee, not the franchisor.
This is where the iceberg metaphor does come into play. As well as looking at how deep the oceans are of which your iceberg will float and allow for expansion, by utilising this system is it easy to see that a franchise model truly is the ‘tip of the iceberg’ and the success and strength behind every franchise comes directly from the franchisee themselves and you can only grow if there is ample room to do so within the sector you operate.
So for those that are invested, with your time, positivity, and commitment to your franchise you will start to see the rewards and benefits of a franchise investment including the flexibility and strength you receive from the franchisor. You will soon wonder why you took so long to take the plunge!
To learn more about franchising and to see if this is for you why not contact us today to find out when our next discovery day will be.