Buying a Children’s franchise
Nick Strong - Franchise recruitment advisor
Franchises that involve working with children are quite varied. They include portrait photography, gymnastics, maths and language tuition, singing lessons and much more.
Childrens franchises are most often run by women who are returning to work or making a career change and want to build their own business around their family.
10 Things to consider when buying a children’s franchise
First of all and perhaps most importantly, do you like working with children?
Second, it is vital to speak to your family about starting your own franchise business and make sure that you have their support.
Third, discuss that amount of investment capital you will be prepared to put into starting and developing your children’s franchise. Entry prices can run from £2,000 to £20,000.
Fourth, define your expectations. What sort of hours can you work directly with children, what time can you provide for promotion and admin and what sort of income do you hope to achieve?
Fifth, research options and request further information from the franchise systems of your choosing
Sixth, make a short list and request a visit to the franchise offices you have chosen. It is vital to see the support set up and meet the personalities behind the brand.
Seventh, speak to franchisees and find out if they are happy operating the brand and how their business has been affected by the recession. The franchisor should provide you with a contact list.
Eighth, get a copy of the legal agreement and take it to a British Franchise Association lawyer for advice.
Ninth, speak to your bank about account set up and finances. Most banks have specialist franchise sections that will help advise your local manager.
Finally, identify which children’s franchise brand is right for you. Sign up, get trained and follow the brand’s proven system enthusiastically for best return on your time and investment.
Tags: Childrens franchise, franchise opportunities, nick strong
