Franchising can be viewed as an easy route to grow your business, and for some the business they own can be a very attractive opportunity, a quick and easy sell making it a fast track to success.
Regardless of the industry we choose, all business owners often have one similar view – that their business is enjoying success, so why wouldn’t it be an attractive option for entrepreneurs?
The drive behind launching a franchise can be very different, from wanting to be present on the National stage to supporting entrepreneurs as they go from acorn to oak. Expectation can also take a hit with many franchisors failing to allow for the initial investment, time, and planning that goes into building a stable system that can stand the test of time in sometimes testing industries.
For a business owner to become a successful franchisor, they need to look beyond the needs of the business, and instead change their focus to see how what they do can be transferable to franchise models nationwide, allowing for potential pitfalls, constantly thinking on their feet and being ready to adjust whilst maintaining the core values of the model that they are trying to sell.
Victoria Sharp, MD of The Avanti Group (UK) Ltd explains why she has stuck to her guns “Ultimately as a franchisor you believe in it, so don’t sell out to get the sale. A potential franchisee who expects you to change the agreements you have in place is potentially not someone you would want to be working with. Being principled takes stamina and determination, but what you get in the end is a group that truly represents everything you stand for”
Franchising requires robustness in all forms, your character will be tested in those early stages when searching for leads. So, make sure you surround yourself by people who can support, encourage and provide the right advice when you need it. Get your team on board, staff retention and buy in is a must to help create the spine of your franchise. Franchising takes a team to achieve, your business is after all the flagship by which all others should be run.
Victoria adds, “After more than 18 years’ experience, we soft launched our franchise opportunity in September 2016. I wanted to help other accountants, who are typically great technicians, but not always in the position to be business owners and understand all the requirements of running a business, to have a route to ownership with support. I wanted to be able to provide the support and systems that I know with the right people in place can be successful. We’ve proven it works! As award winning franchisees initially, we have already been on this journey, and now we’re proudly taking the next step as franchisors. We also wanted to be able to provide businesses throughout the UK with a local service from a different type of accountancy option. As a business owner you no longer have to engage with a technician who baffles you with jargon, instead Avanti offer a proactive, friendly, yet professional service.”
Accountancy doesn’t have to be scary, nor does franchising!