Can I franchise my business is a question I get asked almost daily. This is why it’s the topic I am covering in my next workshop on the 23rd April in Warrington. In this post though my aim is to help you understand the value and benefit of franchising and show you how successful it can be by looking at the statistics. If by the end of this post you are intrigued and want personalised advice about how it could work for you then look for booking details to secure your seat at the workshop.
More than £15 billion is generated by UK franchises every year and there are more than 1000 franchises currently operating. Each year this rises by 10%. This goes to show that it’s a proven and successful model that is generating income and changing lives for many bold business owners around the country.
Attracting Franchise Owners
Many people who come to me and worry about their potential franchise success, more specifically they worry about attracting people to buy into them. They don’t want to invest time, energy and money into franchising if they can’t sell it.
To help you with this it’s important to understand your ideal client a little more and their potential motivations for buying a franchise.
Most people who buy franchises do so because they are craving a better work life balance. They want to work for themselves and own their own business but they don’t have a business idea to start independently. They are attracted by the concept of buying into a business with a ready made brand and the fact that it had worked as a model for someone else means that it is a lower risk investment.
By selling your business model as a franchise you are actually improving the lives of others by giving them your opportunity.
78% of franchisees are so satisfied they would recommend their franchise to others and 88% enjoy the day to day running of their business.
Think how it would feel if they were saying that about your business.
50% of franchise owners reported in 2017 that they earned £250000 annual income.
If your business is more than a year old, you have experienced success in its current form and you are committed to growth then I believe you have potential to franchise.
Find out all about franchising and if it feels right for you with my course, “Franchise Foundations”.
Alternatively, download my 5 things you need to know before franchising guide.