In a recent article from the B2B phone answering service, eDivert explained the many pros of choosing to become a franchisee, rather than starting from scratch as a new business owner.
eDivert began the article by letting readers know that if they had considered leaving their job for something with “more flexibility and work-life balance” that still earned them a good wage, they weren’t alone. The B2B franchise cited a Gallup poll which revealed that out of a billion surveyed workers, only 15% are ‘engaged’ at work - leaving “a staggering 85% who are unhappy”. In terms of a new professional path with more freedom and plenty of room for profit, franchising is, according to eDivert, the perfect option.
90% of new business start-ups fail in the first five years, with 82% of them failing due to cashflow issues. As eDivert explained, “Most people simply don’t have the money to be able to afford to leave their jobs, invest a lot of money in a new business idea whilst at the same time paying out for living expenses. Especially with the high chance that said new venture won’t succeed anyway! And so that niggling voice of doubt creeps in again, your excitement wanes and you start to think again.”
But what if there was a middle ground? A way of becoming a business owner without “spending huge amounts of time and money on building a brand from scratch”? A path to financial freedom that comes with “information and resources”, allowing you to “fast track your learning” and join a “team of like-minded individuals”? Surprise: There is, and it’s called franchising. There are now half a million people involved in franchising in the UK - 25,000 franchisees operating over 39,000 franchise units - and the business model has been growing in popularity for the past few decades.
This is happening for good reason. As the telephone answering company at the top of its game expressed in this article, the franchise failure rate is much lower. Compared to that 90% statistic cited above, just 15-35% of franchises fail, and in some sectors, the success rate is as high as 99%! As a franchisee, you “enter into a franchise agreement, pay an upfront fee and a monthly royalty fee (usually a % of your revenues)” and in return, “you get a turnkey business, ready for you to take the reins and hit the ground running”. You receive training, ongoing support and plenty of guidance - and you’re able to thrive as a result. If you’re interested in a franchise investment with eDivert, visit the company’s profile page (linked above) to find out more.
Lily Sweeney, Point Franchise ©