Franchise definition – What is a franchise?
Business start up is, in the main, highly volatile. Very few new business ideas mature. Why is this?
Clearly we all work hard and become specialised in our chosen field. Accountants, builders, marketeers … There are many career paths. However there are only four general areas to the successful running of any business.
Win the business – SALES and MARKETING
Process the business – ADMINISTRATION and BUSINESS DEVELOPMENT
Financially management – ACCOUNTS
Serve the customer – CUSTOMER FACING LABOUR
Clearly there as many specialisms and we all become specialised is one of these categories. However, when we start in businesses we need to be competent in all areas of expertise.
This is the key challenge to anyone starting their business. What sales man is interested in admin? What accountant is interested in marketing? Very few.
We stick to what we know and are often scathing about the mindset of people in other departments of the same business. Paradigms exist. “Sales people lack attention to detail and are poor at admin”. “Accounts people are dull” and so it goes on.
What a shock to the salesman who starts his own business to discover his admin and accounts must be done to the highest level. Many do not grasp this until too late.
Franchise business has a track record of success from start up and beyond. Why is this?
A franchise is a business system that is documented for the purpose of third party replication. A franchise system owner will document what works and what does not work in their businesses. The franchisee (person who buys the right to follow the proven system and use the brand) benefits from following what is proven and trading under the recognised brand.
The franchise system owner also has a team of experts in house who provide training and support to the franchisees. That means that the franchisee can grow in all required areas and be supported and trained in areas of weakness.
The franchise format has delivered over 90% profitable business trading in the UK consistently for many years according to the British Franchise Association National Franchise Survey. In fact the 2009 survey declares that the franchise system is helping franchisees through the recession too.
Clearly the documenting of best practise coupled with the right franchisees and the best support is what drives franchise business success for self employed people. The key thing is to recognise that you are a system follower before looking into franchise business. Don’t mess with the system in franchising. It following the system that makes you successful.
For more information about franchises for sale visit www.SelectYourFranchise.com.
gcjsp42ki3
Tags: franchise sales, Franchise system, nick strong
