Captain... Posted 22 August 2014 Posted 22 August 2014 Has anyone ever invested in a franchise business, or been involved in this sort of thing or know anyone that has been. I've been told about this: https://www.franchiseinfo.co.uk/exhibition-sub/freefranchisetickets I am currently feeling indifferent to my job and the travel side of it is doing my head in, investing in a franchise is something that intrigues me, but I know very little about it. So if anyone has any experience I would love to hear it.
RobHawk Posted 22 August 2014 Posted 22 August 2014 My parents own one! Seems to be alot of hard work and whilst you think you have more freedom because you own your business theres still a head office telling you what you can and cant do. The amount you can make is also compromised by the fees you must pay to the main company and you usually have to use all their products which isn't always the cheapest way. On the plus side you are likely to be investing into a brand that is already known and has a good reputation and maybe even popular, so its not like you are starting from scratch. Just make sure its something you are interested in and that the need is there in the area you plan to operate.
sphericalfox Posted 22 August 2014 Posted 22 August 2014 Has anyone ever invested in a franchise business, or been involved in this sort of thing or know anyone that has been. I've been told about this: https://www.franchiseinfo.co.uk/exhibition-sub/freefranchisetickets I am currently feeling indifferent to my job and the travel side of it is doing my head in, investing in a franchise is something that intrigues me, but I know very little about it. So if anyone has any experience I would love to hear it. I think I would be challenged to make it from one end of that exhibition hall to the other without losing my soul.
Nick Posted 22 August 2014 Posted 22 August 2014 I think I would be challenged to make it from one end of that exhibition hall to the other without losing my soul. I have your soul and will be issuing ransom demands shortly.
sphericalfox Posted 22 August 2014 Posted 22 August 2014 I have your soul and will be issuing ransom demands shortly. Damnit, I thought I was losing weight.
goose2010 Posted 22 August 2014 Posted 22 August 2014 Worked for a franchisor for 12 years one bit of advice read the small print!! Check out the management fees if it's turn over or profit as that catches a lot out!
SOCCERROO FOX Posted 23 August 2014 Posted 23 August 2014 There are some good Franchises around and then there are some seriously bad ones out there. My advice would be be read and then re-read everything and speak to another 1 or 2 fellow franchises. Also establish what the finacials of the Franchisor is like, seen plenty in my role expand to quickly and go under, which brings you under as well. Also if it's a food or shop franchise speak to the Landlord and who holds the leases etc.
ADK Posted 23 August 2014 Posted 23 August 2014 This takes me back to GCSE Business Studies. I seem to remember reading Vincent Tan started off by running a McDonald's franchise. So you never know, after a lot of hard work you could turn into a complete cvnt. I don't think I would want to do it though. If I ever decide to get involved in running a business I'd like to control everything. But I'd imagine you would have more support with a franchise. I can't actually remember much about them to be honest. I think being a limited company seemed the best option of the things we studied but it depends on the business and what you want to do.
Jon the Hat Posted 24 August 2014 Posted 24 August 2014 What are you interested in running that you couldn't do by yourself ?
MPH Posted 25 August 2014 Posted 25 August 2014 What are you interested in running that you couldn't do by yourself ? Like I just mentioned above there are some great brands out there that can make you some good money.... Anyone can own a donut shop but im telling you now if I am walking around Leicester and see Dave's Donut shop ... I might not stop by straight away... I'd be intrigued and I might do eventually. But if I see a Kryspy Kremes. I'm stopping and i'm maxing out my credit card. With some franchises, you also inherited an instant fanbase..
Rob1742 Posted 25 August 2014 Posted 25 August 2014 They are not for me, but if I was in a different position I certainly would look at them. You need some pretty heavy money to start with one of the bigger operators, but if you have that, then take your time and choose the right one. The good thing is these companies like you to take on a few, so it's a win / win if you do well as you can progress onto a second and a third pretty quickly. So for me there are two things that will make you a success in this area, the first is if you have a deep pocket to enable you to get involved in one of the big ones. The second and vital point is if you are clever enough to pick one of the winners out of the pack. If you have the money and can pick a winner, you should do well, expand into a second and third and do a small Vincent Tan.
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