MENU
Franchise - Find franchise Opportunities in the UK, Point Franchise
0
Empty
basket
  • Home
  • Account
  • Franchises by Region, County or City
    • Franchise opportunities by Region
    • Franchise opportunities by County
    • Franchise opportunities by Town / City
  • Franchises by Sectors
    • Business & B2B Services
    • Car & Automotive
    • Cleaning
    • Estate Agency & Property
    • Finance
    • Food
    • Franchise Services
    • Gym, Sport & Beauty
    • Home Based
    • Home Improvement & Construction
    • IT, High-Tech & Online
    • Master Franchise
    • Personal & Home Care Services
    • Pet
    • Restaurant, Coffee Shop & Pub
    • Retail & Stores
    • Travel & Leisure
    • Van Based
    • All sectors and industries
  • Franchises by Investment
    • Low-cost franchises
    • Franchises under £10K
    • Franchises under £20K
    • Franchises under £30K
    • Franchises under £40K
    • Franchises under £50K
    • Franchises under £100K
    • Franchises under £150K
    • Franchises under £200K
    • Franchises over £200K
  • Franchise Directory
  • Franchise Opportunities
    • Best Franchises
    • Most Profitable Franchises
    • New Franchises
  • Franchise News & Articles
    • Franchise News
    • Franchise Articles
    • Dictionary
    • Interviews
  • Franchise Experts
    • Latest articles from our experts
    • Our experts
  • Franchisor Area
    • Get your franchise listed for free
    • Advertise
  • Articles
  • Running a franchise
  • Franchisee Success
  • Avoid These 5 Pitfalls That Limit Your Potential for Success as a Franchisee

Avoid These 5 Pitfalls That Limit Your Potential for Success as a Franchisee

Share:
Modified on 10/06/2021 16:55:57 - Published on 15/06/2018 18:00:00

Successful franchisees

When starting a franchise, you want to feel confident that it’ll work out. Though there’s no guarantee, franchising comes with far fewer risks than starting your own business from scratch. Still, certain pitfalls might prevent franchisees from finding success. Here’s how you can avoid them.


Whether it’s a lack of research or a lack of hard work once you’re on the job, there are definitely ways to fail as a franchisee. Though you’re taking fewer risks and you’ll have access to expert support, you’ll still need to be proactive in terms of accepting help when it’s offered and speaking up when you’re struggling. In this article, you’ll discover the five most common pitfalls that limit franchisee success.

Five pitfalls that can stand in the way of franchisee success

1. Failure to research

When starting your franchise journey, it’s absolutely crucial that you research extensively and do your due diligence. Start with Google, then turn to expert sources like the British Franchise Association. Then chat with your potential franchisor, and with current franchisees at the company. Consider consulting a legal professional regarding the contents of your franchise agreement. When you gather together all the information you need, you’re able to make a truly informed decision that sets you up for the future.

If you end up investing in a franchise with a terrible reputation because you failed to look into them, you’ll only suffer financially and professionally as a result. It’s like agreeing to marry someone on the first date. It might work out perfectly. Or you might realise, when it’s already too late, that they chew with their mouth open and are rude to your server.

Franchise ownership is a life-changing endeavor, so candidates want to make sure they are doing their homework and soul searching to ensure they choose the right franchise for them and their families.
—
Jim Judy, Entrepreneur

2. Failure to put in the hard work

Franchising comes with a lot of rewards, but it also requires a lot of hard work. The amount of work required will depend on the franchise, and the type of opportunity, but nevertheless, it’s certainly not some “get rich quick” scheme in which you become a millionaire without lifting a finger. 

Yes, franchising can sometimes become a passive source of income, but nothing is guaranteed, and this will only happen following years of effort and work, anyway. Every business endeavour must be nurtured, especially in the first few years, and franchising is no different.


>> Read more:

  • Top 8 Tips for Being a Happy Franchisee
  • Mythbusters: There Is No Innovation in Franchising
  • How to Stay Productive as a Franchisee
  • Top 8 Tips for Securing Finance for Your Franchise
  • 10 Ways to Boost Employee Happiness, Engagement, and Satisfaction
  • 7 Tips for Building a Profitable Franchise

3. Hiring the wrong team of people 

For many franchisees, the next important step to take after signing that agreement will be hiring a team of employees. The right team could make a franchise, and the wrong team could break a franchise, which makes recruiting good employees extremely important. In order to do this, ensure that you:

  • Create a concise but comprehensive job description

  • Prepare well ahead of time for interviews

  • Always try to meet candidates in person to get an accurate feel for who they are

  • Seek advice from your franchisor

If you don’t take the time to perfect your recruitment process, you’re only likely to have to spend money and time replacing poorly performing staff members down the line. Also, a single sub-standard, non-committed member of staff could do some irreversible damage to the reputation of the entire brand, not just your franchise unit, by providing poor customer service. 95% of workers agree that a bad hire affects team morale [Robert Half International].

4. Investing more than you can afford 

Franchising is a costly process, though the size of the investment you’re required to make will depend on several factors, including the popularity, location, sector and size of the business you’re looking to franchise with. On average, the cost of setting up a franchise unit in the UK is £42,200 [British Franchise Association]. The costs associated with franchising go beyond this initial investment, however, and failing to account for this can cause problems for both franchisee and franchisor.

If you want to avoid bankrupting yourself with a franchise investment, you’ll need to fully understand all the associated costs, such as the franchise fee, the inventory fees, the possible monthly fees, and the working capital you’ll need to have spare. Though fewer than 1% of franchise units close each year citing commercial failure [British Franchise Association], it’s still important to be careful and considered before you throw money at an opportunity.

5. Failure to handle the stresses of business ownership 

Running your own business is an exciting, flexible role, and for some, it’s perfectly suited. If you’d love to be your own boss without all the risks of building a new business, and you’re prepared to deal with the demands involved, you’d probably be a very good franchisee. Some, however, will misunderstand how much time and effort they’ll have to commit, and will end up bowing under the pressures, stresses and uncertainties of business ownership.

In 2019-2020, there were 828,000 cases of work-related stress, depression or anxiety in the UK [Health and Safety Executive]. To avoid letting stress take over your headspace and sabotage your business, you should find stress management techniques that work for you, such as boundary setting, delegating and practicing mindfulness. If you’re unable to prioritise your wellbeing, you’ll risk your franchise beginning to stagnate and underperform. Communicate, and check in with your employees, too.

We need to find a way to normalise discussing when we have bad days, and being honest about our stress, our burnout, our anxiety, our depression – whatever the emotion is, it’s human – and it’s human to care for someone else’s current situation.
—Dan Murray-Serter, Forbes


>> Read more:

  • 5 Tips for Developing Your Employees into Future Franchisees
  • Being a Successful Franchisee Means Adopting an Entrepreneur Mindset
  • 7 Common Habits of Successful Franchisees
  • Mythbusters: Common Misconceptions About What Makes a Successful Franchisee
  • Five Tips for Boosting Your Self-Confidence as a Business Owner
  • Traits of an entrepreneur

Guarantee your own success as a franchisee by working hard and seizing opportunities 

If you can step cleanly over the pitfalls and navigate the road to success, you’ll be a profitable franchise unit in no time at all. And now, you should know exactly how to do that. Next up, find out how to set realistic expectations for franchise success, or discover the state of franchising in a post-COVID world.

Cara Squires, Point Franchise ©

Refresh & Renew Kitchen Renovations franchise Refresh & Renew Kitchen Renovations
Min. investment £0
Home Improvement & Construction
Request
information
CoLaz Aesthetics Clinic franchise CoLaz Aesthetics Clinic
Min. investment £100,000
Gym, Sport & Beauty
Request
information
The Butcher franchise The Butcher
Min. investment £150,000 +VAT
Restaurant, Coffee Shop & Pub
Request
information
Tezlom franchise Tezlom
Min. investment £25,000
Business & B2B Services
Request
information
SalesEnabla franchise SalesEnabla
Min. investment £14,995
Business & B2B Services
Request
information
These articles may interest you

Four Signs That Your Work-Life Balance Is Off

As a franchisee, achieving a work-life balance that allows you to thrive [...]

Article published on 29/06/2021 17:05

Avoid Making These 5 Mistakes as a First-Time Franchisee

Running a franchise can be flexible, exciting and profitable. It can [...]

Article published on 25/06/2021 11:09

Four Most Common Habits of Successful Business Owners

Most franchise opportunities will bring you profit if you follow the [...]

Article published on 21/06/2021 11:53

Top 4 Frozen Yogurt Franchises in the UK

If you’re a business-minded entrepreneur with an undeniable sweet [...]

Article published on 27/04/2022 16:00
MARKETING AND COMMUNICATIONS

Q&A: Does Street Greek Franchise in the UK?

If you’re a feta-loving, souvlaki-scoffing Greek food connoisseur [...]

Article published on 26/04/2022 10:00
BRAND FOCUS

Top 3 Salad Bar Franchises in the UK

If you’re an entrepreneurial person who dreams of running your own [...]

Article published on 25/04/2022 16:00
TOP FRANCHISES
Did you enjoy this article? Please rate this article
Be the first to rate this article
Newsletter Envelope

Did you enjoy this article?
Subscribe to our newsletter!

Receive up-to-date industry news, in-depth articles and the newest franchise opportunities directly to your inbox.

0 Comments

Still no comment for this article. Be the first to publish a comment!

Post a comment

Characters remaining: 250

Top 5 recruiting sectors
  • Business & B2B Services Franchises
  • Estate Agency & Property Franchises
  • Gym, Sport & Beauty Franchises
  • Home Improvement & Construction Franchises
  • Travel & Leisure Franchises
Top 5 franchise opportunities
  • Franchise Acacia Homecare Acacia Homecare Franchise
  • Franchise Blossom Home Care Blossom Home Care Franchise
  • Franchise Full Circle Funerals Partners Full Circle Funerals Partners Franchise
  • Franchise GoliathTech GoliathTech Franchise
  • Franchise Greensleeves Greensleeves Franchise
Top 5 recruiting cities
  • 1 Birmingham
  • 2 Bristol
  • 3 Glasgow
  • 4 Leeds
  • 5 Manchester
Franchises by
minimum investment
Low-cost franchises Franchises under £10K Franchises under £20K Franchises under £30K Franchises under £40K Franchises under £50K Franchises under £100K Franchises under £150K Franchises under £200K Franchises over £200K
Latest News
  • TaxAssist Accountants - ADAPTING TO THE NEW NORMAL: TAXASSIST ACCOUNTANTS VIRTUAL...
  • The Zip Yard - THE ZIP YARD OPENS ALTERATIONS SERVICES IN 3 TESCO STORES
  • ChipsAway - CHIPSAWAY DRIVES ADVERTISING TO THE HIGHEST GEAR WITH A...
  • Optic-Kleer - Big News from the Optic-Kleer franchise.
  • TaxAssist Accountants - 3 TaxAssist Accountants franchisees celebrate 15 years...
Newsletter Envelope

Did you enjoy this article?
Subscribe to our newsletter!

Receive up-to-date industry news, in-depth articles and the newest franchise opportunities directly to your inbox.

Find your franchise
  • UK Franchise Directory
  • Best Franchises
  • New Franchises
  • Most Profitable Franchises
  • Dictionary
  • Interviews
  • Checklist
Our top guides
  • Franchise for Sale
  • Franchise Definition
  • Starting a Franchise
  • What is a Franchisee?
  • What is a Franchisor?
  • Franchise Agreement
  • Franchise Shows and Exhibitions
Are you a franchisor?
  • Advertise your franchise with us
Subscribe to our newsletter
Useful links
  • About us
  • Privacy policy
  • Sitemap
  • Contact us
  • Consent notices
  • Terms and conditions
  • Disclaimer
  • Our writers
Follow us
Infopro Digital
✕
point franchises newsletter

Keep up to date with the franchise industry