STARTING a business, however well you have researched and planned, will always present challenges.
Having a sound idea and identifying a gap in the market is only the start. New business owners must also learn how to market and promote their business; find customers; employ staff, and tackle the administrative elements of business ownership, such as tax and accounts.
These can quickly become a major distraction from the running of the business, and this is where owners of franchise businesses have a huge advantage over those of independent start ups.
Tom Endean, marketing manager of the British Franchise Association, said: “A franchise that has been properly set up will provide all the training you need to get started and the ongoing support to give you the best chance of success. This means that you can spend more time focusing on your business and less time dealing with problems that you’re not sure how to handle.”
Franchisees need to be realistic about how much support to expect, as the franchisor who owns the system and brand is not there to do the job for them. It is fair to expect a much higher level of support early on; becoming less intense as franchisees hit their stride, but available on an ongoing basis.
In the early stages support may focus on developing management skills or carrying out the actual service. Other basic business skills that a franchisor will help with include sales, marketing, finance and IT, and where relevant, help in finding suitable premises.
Mr Endean added: “It is important to remember that you will be paying for this support through a management service fee, so be clear about what you can expect before you start.”
For more information on franchising visit: www.thebfa.org