Franchise Article

Having just turned 50 and got to a stage in his career as a company director, Derek Hodd needed to do something new. “I didn’t want to get work as an employee and the advantage of a franchise is that I could try something totally different, something I’d never done before & have the support of a proven business model. Derek Hodd was first attracted to Expense Reduction Analysts by the opportunity to run his business in a white collar, B2B environment.

I didn’t have a unique idea or a hobby that I wanted to turn into a job, like some people do, but I did have experience of managing a business. The good thing about a franchise is that they have been through it all before so there are relatively few surprises and answers to most questions.”

I believe the point of a franchise is not to have invent the wheel but to drive it and have the benefit of utilizing best practice from within the fellow franchisee network

There is a huge amount of support from the franchisee network, which includes regular regional meetings, one of which Derek chairs. The franchisor has a number of subgroups which focus on new idea’s, improvements, updates and specific projects, to benefit and develop the organisation. As the Chairman of the Supplier sub-group, I have hands on experience innovating new ideas & implementing them to help the franchisee/supplier relationship grow & improve.

In the 8 years I have been with Expense Reduction Analysts, my best saving has been of 90% which I’m quite proud of, but it’s not all about making the most savings. I had one client where the savings were very small but I overviewed and restructured their cash collection, cash handling & security programme. I was recently brought into a colleague’s very large retail client to advise and negotiate on a specific project, which by the project end had resulted in me being a trusted advisor to the FD, which was very pleasing. It’s these projects that give me job satisfaction - as well as being able to, in effect, spend other people’s money wisely.

When I received the Consultant of the Year Award I was surprised and, at the same time, very proud of myself.  Not only does it reflect success in my own business, it is a tangible recognition from head office for the input & contribution I have made to the direction and growth of the group. Since then I have also been awarded the Highest Earner Of The Year  for earnings of just under £200k.

Since joining Expense Reduction Analysts, I have had the opportunity to mix business & pleasure. I have bought a home in Spain which I go to once a month & from there work at a more leisurely pace. I keep the work to ‘bite size pieces’ so, if there’s an hour spare before I’m going out to dinner, then I sit down at my ‘Spanish desk’.

When in England I work more normal hours, but it still fits in with my life rather than my life fitting in around work. If I fancy going to the gym in the morning, having my Friday’s in the Isle of Wight at the Yacht club, then I just make up the time at another point. It’s completely flexible & without judgment from anyone else. With the money I earn, the hours I work & the time I take off, I regard myself as unemployable, Derek continues. It’s given me a better life/work balance than I ever imagined.

I do believe in Expense Reduction Analysts & the opportunity for a franchisee, to have an influence on the direction of the business & the quality of the business! One of the best characteristics about Expense Reduction Analysts is the ability to be so involved. To be part of a corporation on one hand, whilst also running your own business on the other.

Callouts

“I work normal hours but it fits in with my life rather than my life fitting in around work.”

“I have also been awarded the Highest Earner Of The Year for earnings of just under £200k.”