Considerations to take before committing to franchising
During your research into franchise opportunities, you may have been focussing on your experience and your business skills and it may be these factors that have encouraged you to pursue a career in franchising.
But there are plenty of other factors that you need to consider before you decide to become a franchisee and not all of them are immediately obvious considerations to take.
Firstly, you will need to invest a huge amount of time into the business. In fact, in the beginning of your new venture, you will have to live and breathe the franchise and you will find very little time for anything else in your life.
You must also consider that you will have to learn new skills and new ways of working. Although skills you have learnt from previous roles will be useful, working for a franchise is a completely different experience and one that you will have to work differently for.
You must also take into account that although you will receive a lot more support and backing than you would starting your own business, you will also lose some of the freedom that you have with your own business. You will be tied by the franchisor, to certain work methods, standards and practices.