I have had to create a model, design the processes around that, test it, market it, feel my way with pricing, make mistakes, and correct them. I had no guidance on a business plan; I had to find my suppliers and research my choice of software and apps to help me optimise my time. I had to find the right way to do my accounts and find an accountant who understood me. I had to work out what a client might want or like, what the special sauce that I brought to the business was, and above all, I had no way of estimating, even slightly, the uptake for my services. I’ve worked long hours, wasted money, and made some mistakes. I’d estimate that 2 years in, some order is finally coming in. My progress on a chart would resemble a spider doing cartwheels and going back to collect something every now and then. A ramble!
And that’s without worrying about premises, vehicles, kitchen set-up, or the other things that can be part of a business.
I dropped in to listen to a franchise legal superstar and an energised, ethical franchisor speak at one of the many seminars offered. Their goal was to explain what franchising, done well, is all about; it reinforced the reasons why franchising is such an excellent option for anyone wanting to consider their own business.
I love that someone has already written the manual, made most of the mistakes, worked out the route to market, identified the price points, and developed a financial model. There is a brand design concept, appropriate advertising and marketing material, a process and advice on client acquisition, and someone to ask who has done it and has the t-shirt.
Of course, there is still hard work. But it’s hard work that should pay off far more quickly than the meanderings that most start-up businesses might make.
The Franchisors I met and interviewed or for whom I have written manuals have all experienced that initial pain on behalf of a franchisee. They have agonised over the look and feel, the process, and the delivery. They have established their business know-how and are ready to pass it on to each franchisee.
So whether your current exploration is leading you to invest in a children’s activity business, a food business, a van-based service, a care business, or any of the multitude of franchise opportunities available, don’t forget what you’re really buying – a lot less trial and error and a more direct trajectory to success.
