Have you considered joining a franchise in 2020?
The new year is a popular time to evaluate your career and set your goals for the year ahead. Many professionals are fed up of the corporate world and others are searching for new ways to challenge themselves. It is a common resolution for many professionals to set up their own business and become their own boss.
Deciding to leave behind a salary paid role and venture out into becoming your own boss on your own is a daunting prospect. Therefore, we believe joining a franchise sets you up with a strong foundation.
What to consider when joining a franchise:
Research: Unlike going it alone, a franchise has already built a brand and reputation, so you are not building from the bottom. However, before deciding to join, make sure you do your research; you want to make sure your values and work ethic match. Look into the company’s brand image and reviews from both clients and other franchisees, as this will give you a good idea of the company values and the service they offer.
Support: One of the benefits of joining a franchise is the additional support you get. Find out what support the franchise offer you, whether it’s IT, marketing or finance. As well as this, you have a network of other franchisees, so try to discover the culture of the network: are they supportive and collaborative, or independent and competitive? Many other franchisees would have been in the same boat as you, so attend a discovery day or arrange a phone call to find out what type of support or advice they offer.
Finances: Buying a franchise is a big investment. There is normally an initial upfront fee in order to set up your business. After this, there can be a monthly service fee for the rights to trade under the brand and for on-going support. Ensure you have carefully researched what the franchise will require from you, and that you have considered your finances.
There are many benefits to joining a franchise, but the most important thing is to make sure it is the right franchise for you. If you are an HR professional and searching for a new opportunity find out how you could become a part of the UK’s largest collaborative network of HR professionals, get in touch with us today to arrange a call and find out more.