Time for You Franchise
- Thread starter AndyMuir
- Start date
Depends what you want to know, it's quite well established and has many franchisees, but it looks like a management type franchise , you manage cleaners but don't clean anything yourself.
Obviously you'll need to find clients plus recruit staff so there will be a lot of immediate hard work involved before you make turnover let alone profit. I'm guessing you'll need a good £30k capital on top of the investment.
Speaking from a quick look at their site not from experience as a franchisee.
Obviously you'll need to find clients plus recruit staff so there will be a lot of immediate hard work involved before you make turnover let alone profit. I'm guessing you'll need a good £30k capital on top of the investment.
Speaking from a quick look at their site not from experience as a franchisee.
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I don't have knowledge or insight to this franchise - I do have some experiences of franchises in general - which is summed up in the phrase 'The 2 main problems with franchises are the way they are sold and the way they are bought'.
Just to be clear - you are definitely not buying success.
Just to be clear - you are definitely not buying success.
- Ask lots of questions. Be very very clear on what they are bringing for the money and what is expected of you.
- Speak to existing franchisees - chosen by you, not them.
- Take professional advice.
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Just as Mark said do a lot of research. I bought into a franchise last year not TFY.
- understanding of the industry
- Spoke to other Franchisees / looked at there accounts
- Market research for competitors / customers
- Understood what i need to do to make it work (sell sell sell retain retain retain)
- Why is it a franchise and does it make sense that it is a franchise
With the power of hindsight i would have
- Lower expectations on how quickly i could pay myself
- Spoke to an accountant before starting
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Generally speaking you buy a process, which if done right has been proven and tested - so that someone is able to pick it up and follow the user manual.
A franchise quite simply wouldn't work for me, I hate being told how to do things and I like to dabble and try different things, break things, make mistakes, etc. For some people who are looking to be shown how to run the 'business' a franchise can work well, they get a user manual that tells them what they need to do and some franchises also have some good back office support too.
I'm not a fan, but as @Greg PW Shearman says; they can be right for the right person.
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Yes, but there are franchises that offer different levels of packaged assistance. I'm wondering what this one in particular offers.
I'm guessing they pass you clients via their website, but I'm wondering what else you get out of it that makes it worthwhile as a franchise.
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All depends on the franchise that you are buying into. Is it offering a model that follow for success or does it offer you a competitive edge in your given market place by combining buying power as a group for example.
For me it works really well allows me to get on with what I enjoy meeting new customers building solutions for them ect. Without having to chase money / day to day customer service / finding suppliers / IT and staffing.
For me it works really well allows me to get on with what I enjoy meeting new customers building solutions for them ect. Without having to chase money / day to day customer service / finding suppliers / IT and staffing.
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Yes... but you said you bought a different franchise. I'm not asking about franchises in general, I'm asking about this specific franchise.
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Just like any business.
There are many really good franchises. But there are just as many really bad franchises and some that are almost criminal. Fortunately for the franchise owners there are enough suckers who end up paying for junk and losing all their money. Caveat emptor
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Or maybe there are some educated purchasers of a franchise that see this as a low risk proven business model that can give good returns ?
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Indeed, I personally know some people who have done very well through Tax Assist, McDonalds, and I did interview the founder of a new franchise Bewiched which I'd highly recommend.
Sadly, like any industry, there are some bad apples that abuse what could be a good model for many people.
As I said above, I know it won't work for me so not a fan myself but that doesn't mean it isn't a good route for someone else. Just like buying any business irrespective of whether it is a franchise or not, do detailed due diligence, background research, look under the carpets, check everything.
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'The way they're sold & the way they're bought'.
Educated purchasers will make in formed decisions, by definition. That will include whether franchising is appropriate for them as a model, then which franchises will actually deliver.
The uninformed / waivering / naïve ones are the challenge. And will be easy prey for the shabby franchisors and the more dodgy end of the intermediary market.
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Exactly that.
A really good franchise doesn't sell, they interview.
I've dealt with a lot for franchises - from serious business people running 10 + outlets to individuals looking for a 'self employed job' - Overall the failure rate of franchisees in F & B start-ups is significantly lower than in 'own brand'.
There is however a lot of snake-oil, and some very gullible buyers desperate to spend their redundancy.
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That's the difference though
You are looking for the right people to grow your brand which will bring you in more £, franchising is the means to an end
Some of the franchises seem to be run purely to make money from selling franchises, franchising has become the end goal itself
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This is so so true , we actually make more of a point that we only make money when they buy our product , so we HAVE to support them to help them grow.
The franchise fee , half goes on kit rest on training and initial support , but that fee is important so they have some financial investment.
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What experience do you have of the business
How good are you at selling to strangers and dealing with rejection, sounds easy but incredibly hard to start selling
How limiting is the area and what happens if you sign up to a customer in your area and get offered a similar contract to work there second outlet say 10 miles outside your area
Do you have any management skills
They should give you a operations manual, but reading how to run a company, and actually running one can be verry different
Do you have cash reserves to meet any large downfall in sales in early years, most people seem to over estimate sales in early years
Good luck
How good are you at selling to strangers and dealing with rejection, sounds easy but incredibly hard to start selling
How limiting is the area and what happens if you sign up to a customer in your area and get offered a similar contract to work there second outlet say 10 miles outside your area
Do you have any management skills
They should give you a operations manual, but reading how to run a company, and actually running one can be verry different
Do you have cash reserves to meet any large downfall in sales in early years, most people seem to over estimate sales in early years
Good luck
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