Low Cost Franchise Opportunities could help the Unemployed back to work
Nick Strong, MD - Select Your Franchise
With unemployment figures still high from the recession, many people are looking at different ways to get back to work. Starting a franchise business can represent just such a possibility with the added security of a proven business system. However, another result of the recession is that many people either don’t have the savings they once had or the confidence to put any spare capital they do have into a new venture. It can seem more comfortable to sit tight and wait till things get better.
With a good range of low cost franchise opportunities on the market, starting a new franchise business is something that almost anyone can afford. This makes it a viable proposition for anyone who has found themselves out of work but is finding it difficult to find another job as employers still remain wary of increasing their workforce.
Low cost franchises, from as little as a £5,000 investment, make it possible to set up a new business venture with the additional backing of a tried and tested franchise system which helps to lower the potential risk of loss. Successive BFA/Natwest franchise surveys indicate that around 90% of franchisees trade profitably in a given year.
For those that aren’t clued up on exactly what a franchise is and how it works, you might wish to check this helpful posting on what is a franchise.
Tags: franchise, franchise opportunities, franchises for sale, low cost franchises, nick strong, unemployment
Could a Franchise Business be your road to a Brighter Future?
Joel Caws - Technical Director, Select Your Franchise
With the economy still very slow to recover, many people are asking themselves if now is a good time to start a franchise business or any other business for that matter. Some people are biding their time, holding on to the security of their current employment because other options seem to carry uncertainty. Those who, prior to the recession, might have been considering a job change or branching out on their own, have chosen to sit it out and see what the future brings.
Then there is of course those who have been victims of cutbacks and redundancies; all too familiar news during the course of 2009.
Despite the doom and gloom of the turbulent last few years, franchising has remained a success story. The release of the 2010 Natwest/BFA Annual Franchise Survey confirmed once again that around 90% of franchisees trading in 2009 were trading profitably. This is a statistic that seems to have stood up consistently over the years and hasn’t wavered despite the recession.
The heart of a franchise business is its proven system. By proving a concept and then documenting the processes and formula which achieved their success, a franchisor can provide a system for another to follow and potentially replicate the same success. In addition, many franchise systems are based around highly desirable or ‘must have’ services and products which has helped to protect them against the downturn.
Statistics have shown that now is just as good a time as any for starting a franchise business. Indeed the success rate holds true
Of course no business investment is without risk. However, with careful research and deliberation, good professional advice and guidance from franchise lawyers and financial institutions, and good old fashioned determination and dedication to work hard and succeed, a franchise business could well be your road to a brighter future.
Franchise Business could present an opportunity for Unemployed
Joel Caws - Technical Director, Select Your Franchise
The recession might be over but the turbulent last couple years has taken its toll leaving many out of work or redundant. With the current unemployment figure being the highest since the mid 90’s, its obvious that there are many looking for work or wondering how best to get their lives back on track.
For those who are currently still out of work and looking for a brighter future, starting a franchise business could well be a way out of the doldrums. Throughout the recession and into 2010, franchising has remained a robust business model. The latest NatWest/BFA 2010 survey indicates that 89% of franchise businesses were trading profitably in 2009; a staggering statistic considering the many businesses that fell foul of the recession, being forced into looking at redundancies, job cuts, or even closure of their businesses.
With such statistics as those above, starting a franchise business has proved to be a good investment when compared to conventional self-employment where generally 4 out of 5 businesses don’t make it beyond 3 years of trading. Of course, franchise business is not without risk. Where money is invested there is always a degree of risk so making some wise choices can maximise the probability of success.
Reading online guides such as 10 Steps to choosing a franchise business and Franchise business plan examples can help inform and prepare you for making the best decision when it comes to buying a franchise.
