While there are many reasons to buy a franchise and we have covered many before in our blogs, we wanted to give a clear and up-to-date top 10.
The UK economy is shifting and certain sectors remain unstable in the wake of Brexit. Many employees are lacking confidence in the stability of their jobs. The ‘job for life’ of thirty years ago, rarely, if-ever, exists in todays career landscape. A bleak picture for employees perhaps, but a great opportunity for the entrepreneurs among us. It is in building something for ourselves and reaping the fruits from our own labour that we are really taking control of our own destiny.
Furthermore, whilst Brexit is spelling doom and gloom for many of the businesses in the UK, the franchising sector remains optimistic. Franchisees and franchisors across the country have immense confidence in their business regardless of the current political climate – using Brexit as a chance to embrace change and take advantage of new opportunities. Read more on franchising post Brexit by clicking here.
Becoming your own boss
Many dream about becoming their own boss but don’t know where to start. Others see where to start but are fearful of setting up a new business to compete with established brands already in the marketplace. Others perhaps lack the skills or confidence to set up alone. Perhaps there is nothing holding you back, but you still would like the support and guidance from experts in the field. All these area are where franchising is an excellent solution.
So let’s explore these, and other benefits to franchising.
1. Starting on solid foundations
When starting up on your own, building things from scratch, you will have to test many theories; from customer acquisition to marketing techniques, from suppliers to price points. There will be many unknowns – even if you have been in an industry for years, running a business is a new and daunting venture. However, with a franchise you can be assured of the modus operandi; from the branding and marketing, through the supply chain, customer service and product quality controls, to the prices and mark-ups. The model of operation has been created and proven for success.
Add to this the many (costly) mistakes the franchisor will have made along the way; just ask us about radio advertising! And you will see, the great benefit to jumping in to a ‘ready to go’ business model.
2. Established brand
Joining an established brand has different advantages; customer recognition and customer affection. You will be part of a business that has proven success in its field. The branding and marketing advantages of this are vast, and the real value comes from customer trust. For example, look Just Shutters up on checkatrade and we have over 1600 customer testimonials and a 9.9/10 reputation score, putting us top of the competition in our field. To achieve this has cost millions – of pounds and man hours. All of our franchisees benefit from this trading history and reputation.
3. Skills and training
An established and successful brand will need to be good at what they do. Customers, wherever they are from expect a certain quality and service from this brand. As such, they have an equally established training programme to ensure the consistency across the network.
We at Just Shutters are the experts in interior shutters. We are not ‘good’, we are never ‘make do’ we are experts. Every single franchisee is an expert. By the time they finish training with us they truly understand shutters inside out; how to imagine, listen and incorporate the customers needs, design and install the perfect shutters every single time. We do not stop until we have achieved this level of expertise with everyone in our network.
Additionally we will give training in all other aspects of the business; systems, sales training, marketing.
This can be one of the largest expenses in starting a new and unknown business. Creating and establishing a brand people come to know and love. You may think marketing is simply advertising your business but in reality it is far more.
An existing business will understand the value of all aspects of marketing; every single time your company touches a potential customer is marketing! From logo design to a highly ranking and effective website, to online and offline advertising, right through to business literature and even your presentation – it is ALL marketing.
Do it right and it can build a business, do it wrong and it will ruin your great idea or product. Just Shutters have spend long over a decade perfecting the marketing mix, to ensure that franchisees get a combination of direct leads coming in from day one, to establishing brand recognition in their area over the long term. Not to mention the benefit of top 3 positions in Google achieved for every franchisee so far…
5. Sales support and office functions
When starting out, you will likely be the boss, the tea boy and the pot washer. The thought of employing staff will likely be a distant dream. However, with a franchise you will receive a level of staffing/administration support from the franchisor.
Each franchise will be slightly different, however Just Shutters has a bustling Sales Support team who take calls, follow up leads, create appointments and keep diaries. This is hugely beneficial to franchisees as it means they can jump in and get on with building their business from day one. It also means that you will always have a friendly and professional member of staff taking your calls and booking appointments even when you are busy elsewhere.
6. Ongoing support
As a franchisee you will benefit from ongoing support from industry experts. If there is a tricky customer, a problem in the supply chain, or general enquiry, you are not alone. Being part of a franchise means you have access to people who can help; not only in the core business, but also within the network.
We find that franchisees not only benefit from the support we give them, but also the support they give each other. We know at Just Shutters that some franchisees are better than others at certain things; some are exceptional salespeople, some marketeers, some have more of a technical knowledge base that others can rely on for a tricky design. Some are particularly good at forming partnerships with other business. Having these range of skills and experiences within a team, allows everyone to draw on collective knowledge and learn and grow from each others success directly.
7. Costs and purchasing power
This one is quite self-explanatory; when a company buys a lot with a supplier, they get the best deals. On top of this a larger company often gets preferential time scales and support. Other things like credit terms can be preferential should they be needed. All these things can streamline costs, up profits and improve cash-flow in your fledgling business.
8. Kit ad equipment
Different franchises will provide different things as part of their overall package, but usually ‘kit’ will be part of it. In some this can be vast, in others a uniform and a manual. With us we provide you with all the tools you need to do the job; from literature, through uniform, sales kit and tools, to helping you with a beautifully branded van.
We know what you need and what you don’t, we also know how to get the very best quality at the most affordable prices.
9. High chances of success
Of course, any business requires hard work and dedication to succeed, a franchise is not a substitute for this. However, a franchise IS a proven model, backed up by experts and with support provided.
The figures vary year-on-year but it is a sad fact that most start-up businesses will fail within the first five years (some stats say 70% others as much as 90%), whereas 9 out of 10 franchises will succeed.
10. ‘How to’ and the benefit of experience
As we have touched upon, a franchise gets the full benefit of the franchisor experience. Having a ‘manual’ of what has worked for a company and its existing franchisees, can give you confidents that when you add your hard work as a vital ingredient, the rest of the mix is already great!
And there we have our top 10 reasons to buy a franchise. What are yours…?
Just Shutters are always on the look out for driven individuals and duos to join the franchise network. Browse the available territories for franchising across the UK by clicking here.