From Graduate To Franchisee
As students up and down the country proudly collect their university degrees at salubrious celebration ceremonies, the unavoidable question of what comes next looms large. We take a look at how investing in a franchise opportunity can be a safe pathway to guaranteed employment.
Now that those three years of afternoon lay-ins and all night study sessions have come to an end, the world of work can be inevitably daunting - especially for job seekers under 25, for whom the employment statistics make for uneasy reading.
Investing in a franchise business, however, is a low-risk way to take control of your career. The first stumbling block for graduates looking to invest in a franchise is the sizeable investment capital needed to buy into an opportunity.
However, bank loans are available for potential franchise investors. HSBC state that: “For an established and successful franchise, HSBC will lend up to 70 per cent of the total start up costs. For newer franchises this figure will be 50 per cent.”
The good news is that banks are more likely to lend to franchise investors than individuals vying to set-up other companies independently. Franchises come with a proven business-model, and are therefore comparatively low-risk.
The second most prominent hurdle in the process is students’ lack of experience within a particular industry. However, as franchises frequently advertise, full training is provided by the franchisor.
Julian Minwalla, Chief Executive of Ovenclean, said: “You don’t need previous experience in business to buy a franchise. Of course, some businesses are more complex to get to grips with than others, but all reputable franchisors should provide a comprehensive training package that includes the basics of running a business.”
This training allows investors to get their business underway with continued support from the franchisor, so it never feels like you are alone.
For any graduate, the modern world is full of hope and possibility. Investing in a franchise could be the perfect way to build your career as an independent and successful businessperson.
By Gareth Samuel