Franchise Success Stories: How to Run a Successful Franchise According to the UK's Top Franchisees
There’s lots of advice out there on how to run a successful franchise. So much, in fact, that it can be overwhelming when you’re just searching for a simple answer. It’s estimated that a new franchise opens every eight minutes and that there are more than 44,000 franchises in the UK, meaning there are lots of franchisees out there who’ve already overcome the hurdles associated with running a burgeoning franchise business. Franchisors can offer plenty of theoretical advice, but it’s great to hear from people just like you who’ve managed to make a success of their business. From financial pressures to managing your time, read on to discover invaluable advice from four of the UK’s franchisees.
>> Read more:
What to consider when running your own business
Running any business is hard work, as there are lots of things you’ll have to overcome that you’ve likely never considered as an employee. To start with, your main concern will be making a name for yourself and attracting customers to ensure you’ve got a viable business opportunity. Forbes shared a quote from businesswoman AnnMaria de Mars, who said:
“The hardest part of growing any business is getting people to know that you exist. Anyone who says their startup idea has no competitors is a liar. Everyone has competitors and the biggest one is almost always, ‘I have no time for you and I want to keep my money.’”
You might also need to pinch the pennies as you transition from being salaried to getting income at random times in varying amounts. Legally, you’ll need to make sure you’ve properly registered yourself as self-employed with HMRC. Or, as your business grows, that you’ve taken measures to separate its assets from your own personal ones to protect yourself against future financial troubles (like registering your company as a limited one). You’ll also need to source good quality employees as your business becomes more popular and ensure you have a plan in place if expansion is on the cards any time soon.
>> Read more:
- You're Never Too Young to Become a Franchisee
- Becoming a Franchisee: 8 Things You Must Know Before Getting Started
- 3 key traits of a successful franchisee
- Five Great Reasons to Become a Franchisee
- Are you ready to become a franchisee? Check out our checklist
- Top 10 things you should know before you become a franchisee
How is a franchised business different?
There are lots of things you won’t need to worry about as a franchisee, including making a name for your business. However, your franchisor should offer plenty of advice on any confusing legal or procedural matters and be able to walk you through what you need to do. This is one of the main plus points of becoming a franchisee – you’ll be surrounded by people who’ve been in your position before, or make their living helping you be as successful as possible.
Even with the most supportive franchisor, though, you’ll still need to overcome lots of issues when you first start running your own franchised business. You’ll have to take on a number of roles you might not have tackled before, manage your work/life balance to make sure it doesn’t get too overwhelming and balance winning or maintaining clients with carrying out enough work to bring in a good income. You will also have to wait out the tricky first few weeks or months before your business starts generating a good income.
How can existing franchisees help?
Before throwing yourself headfirst into your franchised business, try and speak to existing franchisees within your network first. Each franchise has its own unique challenges that its network will need to overcome when they first set up and chatting to those who’ve managed to do this and go on to achieve great success will only inspire you to keep going.
You might also pick up really useful tips from them about how to get through problems that are unique to the franchise you’ve chosen to join. Existing franchisees will also reveal not just solutions to problems but best business practice which could see you maximising your profit potential in no time at all. They’re likely to have good strategies for winning new business, meeting clients, cutting costs in your supply chain and keeping employees happy, which will boost your income and the strength of your business in the long run.
Stories from successful franchisees
>> Read more:
Molly Maid has been operating in the UK for more than 35 years and has in excess of 75 territories across the country. Amanda O’Rourke ran her own Molly Maid business for more than 10 years before selling it for a hefty price in 2017. She shared how she approached her journey with the domestic cleaning franchise tactically, choosing to use it as a long-term investment strategy.
“On day one of launching my business I had a clear exit strategy. That might sound strange but everyone who knows me, understands I am a very planned and methodical individual. I believe that in order to achieve your goals you need to have a plan in place. My plan has always been to grow sales to provide me with a good annual income and ultimately sell the business for in excess of £100,000 after 10 years. Both of which I’m pleased to say I have achieved.”
She also revealed how she overcame some of the toughest times during her business journey.
“There have been a couple of occasions when I thought ‘why did I do this’ but I think that is only natural. These moments have normally come at times when things are tough, like enquiries have slowed or dealing with staffing challenges. However, I quickly remind myself of the flexibility in lifestyle it brings and the profit I generate which usually brings me quickly back on track.”
Finally, Amanda offered advice to franchisees who are worrying about staff recruitment, as this was one of the biggest challenges she faced.
“The staffing situation during the summer of 2016 was my toughest hurdle to overcome. Having solved that challenge my staffing has remained consistent. I have shifted my mindset to not see staff recruitment as a challenge, but rather an ongoing and integral part of the business.”
Children’s franchise Stagecoach has established a network of franchisees across the UK that exceeds 300 and is still growing. One of its most passionate franchisees in Heather Salvador, who joined the performing arts school first as a singing teacher, before becoming a franchisee in 2005. Speaking about her 15 years of experience, she revealed how one of the key things that’s allowed her to succeed as a franchisee is continually seeking out new learning and development opportunities from her franchisor.
“The ongoing support with Stagecoach is fantastic. I’m quite a high-maintenance franchisee – I’m always looking to expand and maintain our business, and I contact head office a lot for advice. I ensure we make full use of all the services that Stagecoach provides. The Regional Franchise Managers are really helpful. They give knowledge and support in a number of different areas, and we’ve worked with our franchise manager to build a structure which will maintain our business growth.”
She also outlined how herself and husband use their team to ensure the business in run as smoothly as possible.
“We have a team of managers who run our territories on a day-to-day basis which gives us the freedom and flexibility to develop all of our schools. Cris does all the marketing, advertising, and spends most of the day making phone calls. I deal with teachers and lesson content, without having to be at the schools all the time.”
Mother Nature Science
Education franchise Mother Nature Science’s Jennifer Chung explained that the prospect of training and learning the ropes daunted her at first. She advised that those thinking about joining a franchise shouldn’t let this put them off.
“I would say one of the biggest challenges so far would be the training part and having to ensure I understand every element [of the business] and knowing how each area fits into one another. To tackle this I believe it is best to throw yourself straight into a real scenario basis (where possible), it makes the learning more meaningful when being put to the test. The reality of the business kicks in and with the team’s support I can only improve my experience.”
Samira Kashefi, who runs another location in North East London, added her advice to prospective franchisees.
“Find something you are passionate about. Research the organisation and their success well and assess whether there is demand in the area you are interested in. Don’t be shy, ask questions, and meet with various organisations until you find the one that you fit well. Asses its performance at each of its company-owned and franchised locations and have a return on investment that meets your expectations. Above all be patient and optimistic but also be realistic.”
Should I join a franchise?
As the franchisees’ profiles above show, it can be tricky to set your business up, but the benefits far outweigh any temporary stress or issues that can quickly be overcome with the help of peers and your franchise support team.
If you’re not sure which kind of business you’d like to join, browse our directory. We’ve got options to suit every individual, from low-cost franchises to master franchises which will enable you to bring a brand to your country. Check out some of the best franchise opportunities in the UK here.
Sophie Cole, Point Franchise ©
It’s very important that you choose the right legal business structure for your [...]Article published on 28/09/2020 16:00
Are you thinking about franchising your business or in the initial stages of becoming [...]Article published on 28/09/2020 08:00
Looking for a new adventure? You might not have considered franchising as a career [...]Article published on 18/09/2020 16:00
The only specialist student letting agency franchise in the UK, with earning potential up to 2.5 times the income of a traditional letting agency
Student and Professional Lettings, Property Management, Residential and Investment Sales. We provide a heavily [...]Read more ›