Investing in a management-style franchise offers savvy entrepreneurs the opportunity to put their skills in management and organisation to good use. This model is often most successful when the owner sees the value in the support of others to make it a success as, although you will be working on the business at a strategic level, you may not be working ‘in’ the business every day. It’s therefore critical that imperative strategic decisions, like recruiting the right people for the right job, are given the time and expertise required. Here, Kevin Thackrah – Director of pet-care franchise Petpals – talks us through some of the initial steps to expect when investing in a management-style franchise. Having recently unveiled their new management model, Kevin draws from their recent formalisation of the management franchise opportunity several of his franchisees have been operating.
Now it goes without saying but, before making any sort of long-term financial decision, you must make the time to do your own research. It’s essential that you take the time to explore all possible avenues when it comes to selecting the most suitable franchise before you invest. And I’m speaking from experience here – I did the very same thing when I invested in Petpals and took over operations a little over 15 years ago.
One of the key pieces of advice I can offer any franchise prospect considering an investment is to make sure you’re not guilty of disregarding sectors because of a lack of experience – when it comes to management franchises, experience of the specific service you’ll be providing isn’t necessarily a prerequisite for success. As you’ll be recruiting a team of staff to support in your new endeavour the experience needed to be an effective manager comes down to good organisational skills and leadership qualities.
Then it’s time to meet with the franchisor – a crucial stage of the initial enquiry and research phase. Meeting with the franchisor is an opportunity to ask the questions that you may not have found answers to during any online research. And don’t be afraid to ask as many questions as you need to – it’s in the franchisor’s best interests for you to be completely satisfied with your investment. At the end of the day, a franchisor’s success is wholly reliant on the dedication of their franchisees, so finding the prospects that are truly capable of following the model and committing to the brand will be their number one priority.
So you’ve spoken with the franchisor – what next? Or perhaps I should say ‘who next’? Who better to give you a real insight into the daily operations of the franchise – the positives and pitfalls – than an existing franchisee? And if the franchisor attempts to manage which franchisees you speak with then proceed with caution – what are they trying to hide?
Use this as an opportunity to ask the nitty gritty questions that the franchisor may not be as well placed to comment on – like what, if any, additional operational processes they’ve put in place to increase productivity, how to spot the key talented individuals in their business and, obviously, what their relationship with their franchisor is like.
Remarkably, these are only the first three steps of a long and detailed process that will lead to you owning your own franchise. But don’t be guilty of disregarding the research phase altogether. At the end of the day, you will only ever be as successful as your passion allows you, so make sure you’re fully aware of what will be expected of you as you run your management franchise – and don’t forget that this can look entirely different from the life of an owner-operator. Most importantly – don’t be afraid to ask the big questions.
Kevin Thackrah is Director of Petpals, the UK’s largest multi-service pet care franchise. Petpals has been helping franchisees achieve their goals for over 20 years. In a UK market where 59% of all households own a pet, including 12.5 million dogs, 12.2 million cats and another 8.1 million small pets*, their services are in high demand.
* Pet Food Manufacturers Association’s Pet Population report 2021
