Would you like to join a franchise? Are you waiting for the right moment? Chances are, you’re in a better position to launch your own business right now than you think you are. Read on to find out how the COVID-19 crisis may just be a good reason to get started.
The UK is gradually making its way out of the national lockdown and the economy is showing signs of improvement. The COVID-19 crisis has impacted the lives of a huge proportion of people, and many of us don’t have a job to go back to once the lockdown is lifted. Many businesses have been forced to close their doors for good, and long hours and challenging conditions have prompted many people to consider a complete career change. Whatever situation you find yourself in, it’s clear these past months have been a turning point for many.
The world has changed drastically in just a few weeks – but it’s not all bad. Many elements of the business world have been transformed for the better. You only need to take a look at our recent news stories to see how franchises have been adapting and thriving amid the COVID-19 pandemic. There are lots of new opportunities emerging from the coronavirus outbreak, which is why we believe it’s a great time to re-evaluate your goals and consider your options.
Why you should join a franchise if…
…you’ve lost your job
- Avoid relying on employers – If you’ve been nervous about the prospect of losing your job or frustrated at how your boss is handling the COVID-19 crisis, you’re probably wondering how you can have more control over your income. As a franchisee, you are in the driver’s seat, and have the power to influence your pay packet.
- Get help with finance – Most investors take out a loan when they join a franchise, so a lack of savings shouldn’t stop you becoming a franchisee. In fact, many franchises already have links to major banks, and other lenders should understand the level of security franchises offer, so taking out a loan should be relatively simple.
- Gain a support network – Some business owners feel lonely being the sole operator of their enterprise, but this isn’t the case within franchises. Not only will you be able to discuss any issues with your franchisor, but you should also be put in touch with your fellow franchisees across the business network. One of the best parts of being a franchisee is meeting likeminded individuals at franchise events and conferences.
>> Read more:
- Franchising 101: The Official Franchise Start Up Checklist (Part 1)
- Franchising 101: The Official Franchise Start Up Checklist (Part 2)
- New Year, New Career: No Better Time Than Now to Start a Franchise Today
- Franchising 101: 8 Signs You're Ready to Start a Franchise
- Starting a New Business Doesn't Always Lead to Immediate Success: Here Are 5 Ways to Change That
- It's Never Too Late to Start a New Business
…you’re a business owner trying to keep afloat
- Gain security – If you run your own independent business, security will be the number one advantage of joining a franchise. It’s likely the company you invest in will have a proven business model, recognisable brand identity and established customer base, all of which you can benefit from.
- Access business support – As a franchisee, you’ll always be able to turn to your franchisor for guidance. Having built up a successful business from scratch, they’ll have years – maybe even decades – of valuable experience and plenty of expertise. What’s more, they’ll know their brand inside out, including what it takes to make your unit profitable – and fast!
…you’re considering a complete career change
- Learn on the job – You may have been put off changing career in the past if you were dreading all the training you’d have to do to get your foot in the door of a new sector. Well, most franchises take on investors with little or no experience. Believe it or not, a lack of knowledge is actually a positive for many franchisors, who prefer to take people on with no preconceptions or bad habits. Instead, they’ll provide a comprehensive training scheme as you set up your business.
- Get the backing of an expert – There’s no need to worry you’ll be left to go it alone once you’ve completed the franchise’s training programme. The franchise team – and probably fellow franchisees – will be with you every step of the way, supporting you as you develop your business over the years. Even when you’re a successful franchise partner, you’ll still be able to talk to your franchisor and get advice from others in the business network.
- Take advantage of the moment – Despite all the challenges the COVID-19 pandemic has brought, it’s actually a good time to join a franchise. While competing businesses downscale their operations and many companies are much less ‘busy’, you could use the time to brush up your knowledge and get your franchise unit up and running. This may just be the impetus you need to make the leap.
…you’re considering starting a business from scratch
- Protect your business against crises in the future – The COVID-19 crisis has shown us just how devastating unforeseen events can be for businesses across the sectors. If you don’t have a robust business model, proven strategies, a trusted brand identity and a decent reserve of capital, you may not survive issues further down the line. Starting a business under a franchise brand should give you the security you need to overcome any challenges yet to come.
Of course, there are a whole range of advantages when you join a franchise – the ones we’ve listed above are just a few of them. Take a look at some of the other benefits of becoming a franchisee to find out more.
>> Read more:
Get started today
While the COVID-19 pandemic has brought huge amounts of disruption to businesses across the world, it’s also opened up new opportunities for entrepreneurs. Franchisees and franchisors alike are coming up with more robust ways of keeping their companies profitable in unprecedented times. And those outside of the franchise network are seeing just how beneficial the business model – with its ongoing security and stability – can be.
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Alice Tuffery, Point Franchise ©