Start up your own business or buy a franchise. It’s a big question, but which is right for you? Ryan White from BFA franchise We Love Pets, talks through the realities of the former and the benefits of buying a franchise instead.
Info: My wife Jo and I run a pet care franchise, so you may not think I can talk knowledgeably about ‘regular’ businesses but the reality is, that all businesses are based on the same foundations, so believe me when I say, every word written below is from very personal experience and will be highly relevant to you, no matter which decision you make.
All hail the startup heroes!
Speak to anyone who has started up their own business and they will tell you it’s a) hard work, b) expensive.
Now don’t get me wrong; every franchise out there was once a start up business; the country and the world needs entrepreneurs like my wife Jo, who were willing to risk everything to build their business from scratch, and thank goodness they did, or we wouldn’t have a franchise industry today, so more power to you if you are thinking of going it alone, but for those of you who would very much like to own your own business but without the back-breaking 0-3 years at the start, a franchise could be for you.
How to build your own business
If you were to start up a business today, initially you would need to do plenty of market research, to make sure that customers really want your product or service.
Then you’d need to design your brand (making sure not to infringe anyone else’s copyright), build your website, write a couple of thousand words of SEO compatible copy and upload it with your own images (again, copyright, be careful).
Next you need to market and advertise your business to your clients. You’ll have to choose how to do this, there are many, many ways to slice that particular cake. Flyers? Magazine adverts? TV or radio? Social media? Email?
How about the legals? Procedures, policies etc? You can probably get away with the bare minimum if you are going to work alone but the moment you take on staff, you’ll need to become an instant expert in everything from employment law to individual legal necessities in your chosen sector.
Now to set up your socials. If you aren’t under 40, you’ll probably need a course on how to market your business on them, as they are all slightly different. Don’t fall into the trap of mixing your messaging up; nothing worse than a post on Facebook using Instagram tagging. (Note: start posting immediately to start building up those followers.) I could go on about image resolution and orientation, tagging, and don’t get me started on Facebook advertising but you’ll work it out. Eventually.
So, you’ve got all that done, and now it’s time to get out there and ‘do the doings’ as we say at head office. Have you got your vehicle sorted? Wrapped? Insured? Good, good.
We haven’t even mentioned if your franchise has a physical product, the sourcing, testing and purchasing and shipping. What about the packaging and the numerous rules and regulations around safely selling your product to the consumer? As a first-time buyer you’ll need your super sharp negotiator’s hat on to make sure you get good prices for your first orders.
How to build a franchise business
Or, you could invest in a franchise where we have done ALL that work for you.
Here’s some things we did earlier…(and continue to do..forever)
We’ve built the website and spent many thousands of pounds making sure it ranks for all necessary key words. We also have lots of ‘domain authority’ which is very important to Google to get the brand high up on pg 1.
Our brand is well established; people know all about us and if they don’t, a quick Google will reveal a whole heap of information about us.
We have spent hours and a sizable amount of cash with a solicitor making sure every single legal ‘i’ is dotted and ‘T’ is crossed.
Our social media channels are well established, with loyal followers, ready to hear about your new territory.
If you sell a physical product we will have every aspect of that tied down, supplier, favourable costs and more.
What next?
When you buy your franchise (having had the agreement checked by a specialist franchise solicitor of course) you will begin your training at head office. It could be anything from a couple of days to a couple of weeks. Buckle in and prepare to learn.
Once you leave and head off back to your territory you may have finished training, but you certainly haven’t finished learning. Our team is expecting at least three calls a day from you for the first couple of weeks, and we’ll also give you access to our online operations manual that will remind you how to do everything you learned during training (and more).
Who suits franchising?
Franchising is perfect for someone who has the energy to put their shoulder to the wheel and build a successful business coupled with the ability to follow a tried and tested business model. If you love the thought of owning your own business but hate the thought of spending months and huge amounts of money getting there, a franchise could be for you.
