Franchise Article

Many people who are looking for a franchise or business opportunity to change their life and their career are excited about the prospect of working from home and being their own boss. Their most common hesitation to actually taking the step to begin to run their own business is a lack of clarity. Most employees who want to make the jump to becoming employers understand the process, understand a business plan and a business model, but the biggest hesitation is knowing what it would actually be like to run their own business. Huge questions surround the franchise business, especially a small business that is a work at home model. One helpful way to benefit future franchise owners is to provide them with some insight into a franchise owners experiences and surprises that they encountered in their first year of franchising. The following are paraphrased responses to questions asked in an interview with a Homefinder UK Ltd franchise business.

Question: What were the best aspects of owning a franchise business?

The best aspects of a franchise and operating with support from HQ are the advertising, searching, training, etc that you receive from an established, successful franchisor. Another benefit to working a franchise of which you are the owner and operator is that the more effort and work that you put into your franchise the more you will see direct results in the profits and success of your business. Unlike an employee position where your work does not translate into a direct effect on the company, a small business like a work from home franchise is completely dependant on the competency, effort, and hours of the franchise owner/operator. Another huge benefit of a work from home franchise is the ability to avoid overhead costs of additional technology, leasing office and retail space, and maintaining inventory without it affecting the impact and effectiveness of your business.

Question: What were the biggest surprises with owning a franchise?

The way that it changed my life, going from an employee with a limited number of contacts and networks to being able to mingle with MD’s of some of the areas most important and influential companies, chairmen and players of the local sports clubs, and the ability to actually make a noticeable different in people’s lives.

Question: What are some of the challenges?

The biggest challenge is creating brand awareness. Understanding that in a franchise while you are a part of a larger company that is providing a recognizable service or product, know that a successful franchise begins in a new territory that is not saturated with the franchise’s goal yet. There was no benefit from an active market by the head office in the past; however the benefit to being a part of the franchise was that the head office supported both developing market opportunities and supporting additional private and creative marketing done by the individual franchise owner. You receive both the advice from experience franchise owners, and support from the Head Office in creating the individual difference to the franchise that will make it successful in your specific area.

Question: What are the words of wisdom you would share with a new franchise owner?

As with any business opportunity success is not as simple as following a formula. Franchise opportunity is just that; an opportunity. The more time and effort that you put into a franchise the more you will get out of it. Not just financially, though that is the primary goal of any business opportunity, but also in satisfaction with your franchise, and the positive impact that your business has on the community you operate within. Working as a Homefinder franchisee is a completely different way of life, not just a job. It has opened doors I never thought I’d see and I love it.