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What it takes to become a successful franchisee

April 25th, 2017 by Joel Caws in Franchise Industry News
 

Business DoctorsFor anyone looking become a successful franchisee, Select Your Franchise’s recent Hangout On Air may be a great resource for information for you. The event, broadcast on 25th April, features Graham Robson, Business Doctors’ franchisee. This video is ideal for anyone considering investing into a business and is seeking the freedom that a franchise can offer.

Business Doctors franchise partners provide a high-quality package to SMEs, supporting their varying needs and facilitating them to grow. Established in 2004 by Rod Davies and Matthew Levington, Business Doctors is a network of entrepreneurs who are passionate about sharing their experience and skills with small and medium sized businesses.

The interview was broadcast online within Select Your Franchise’s Hangout On Air programme and is ideal for anyone considering investing into a franchise that delivers all the support, training and leads you need to grow your business. The event was hosted by our Managing Director Nick Strong.

Click here to find out more about the Business Doctors franchise.

Did you find this video interesting? We have more on our YouTube channel! Subscribe to our channel to be notified of upcoming webinars and events.

Our Hangouts On Air happen on Tuesdays from 12.30pm.

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Things to avoid when buying a franchise

March 29th, 2017 by Brittany Lamb in Franchise Industry News, Franchise Tips
 

Things to avoid when buying a franchiseBuying a franchise is an exciting step towards becoming your own boss. There are many benefits to becoming a franchisee but you should also be wary of the things you should be avoiding during this time.

Here are four things to avoid when investing in a franchise

Believing the franchisor will do all the hard work for you

One of the many benefits of becoming a franchisee is being safe in the knowledge that the business is proven and profitable. The franchisor will have already tried and tested all aspects of the business to find out what works for the brand and what makes a profit.

As a franchisee, you will be using that knowledge to generate your own success through the brand. But keep in mind that this does not mean the business will run on its own. You will still need to put in the effort and hard work that it takes to make a business successful.

Expecting guaranteed success

Speaking of hard work and successful businesses, although you will have the support of your franchisor behind you, this does not guarantee a successful business for you. You will likely receive assistance from your franchisor in terms of marketing, business growth and business development, but this doesn’t mean your franchise will be an instant success. You will need to put in the miles to ensure your own business success too.

Underestimating the finances

Buying into a franchise is a huge personal and financial investment. You want to make sure that when you do decide to exit the business that you come out with more than you have spent. However it is not uncommon to underestimate the costs involved in the franchise.

Keep in mind the costs for legal and accounting fees, marketing costs, insurance, and working capital. Make sure you speak to your franchisor in detail about the costs involved in the franchise so you can prepare yourself accordingly for what may come.

Cutting corners with due diligence

The due diligence part of the process cannot be undervalued. You want to ensure that the decision you make is the right one for you, your family, and your future. Speak to experts in franchising who can give you honest answers to what you are investing in. This includes franchisors, existing franchisees, friends, family, lawyers and even experts from the British Franchise Association.

Taking your time may come as a benefit to you and as much as you may be ready to get on with investing, it will be costly to make a mistake and end up with a bad business decision.

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Discover the fast-growing Surface Medic franchise

March 14th, 2017 by Brittany Lamb in Franchise Industry News
 

Surface MedicFor anyone looking become a successful franchisee, Select Your Franchise’s recent Hangout On Air may be a great resource for information for you. The event, broadcast on 14th March, features Rebecca Diamond, Franchise Recruitment Manager at Surface Medic. This video is ideal for anyone seeking a new career, a new opportunity, or the chance to find out more!

Surface Medic is an ultra-low overhead business allows you to work from home in your local area, and to enjoy a better work life balance. The Surface Medic franchise is an extraordinary income opportunity, with realistic take home earnings of over £40,000 in just the first year.

The interview was broadcast online within Select Your Franchise’s Hangout On Air programme and is ideal for anyone considering investing into an award-winning franchise that delivers all the support, training and leads you need to grow your business. The event was hosted by our Managing Director Nick Strong.

Click here to find out more about the Surface Medic franchise.

Did you find this video interesting? We have more on our YouTube channel! Subscribe to our channel to be notified of upcoming webinars and events.

Our Hangouts On Air happen on Tuesday, at 12.30.

Share your questions about franchising on Twitter and Google+ using the hashtag #FranchiseQuestion before, during or after the event.

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