How to scale up a small business with franchising
Owning a small business or launching a start-up has always had its challenges. But never before has there been so many unpredictable highs and lows and constant changes. The effects of the pandemic on business has been widely spoken about but for some entrepreneurs, they have used this time to build back stronger.
For small business owners, franchising is a way to expand more quickly and cost-effectively than opening further company outlets. By allowing franchisees the right to run their own business under your brand and systems, you can transform your own business and grow your brand.
Coming out of the pandemic, many sectors of industry are suffering. However, new ways of working have exposed new needs and many people are now considering franchising for the first time. The franchise sector is worth a reported £17b to the UK economy and according to the British Franchise Association reports, there are more than 50,000 franchised business in the UK, creating more than 700,000 jobs. Worldwide, through quick adaptability, scalable technology and a strong focus on products and services, the franchise sector has shown its resilience as is set to grow by at least 10% this year.
In the UK, there is a new appreciation for franchising; being in business for yourself, but not by yourself, has resonated now more than ever. However, deciding to franchise your business is not a straight forward decision. There are certain criteria that you must meet: is your business proven and can you show evidence of success, is it profitable, is it teachable to others and is it transferable to different locations? You must also ensure that a number of legal safeguards are in place to maintain brand control and protect your asset.
Helping business to navigate this new territory is Franchise My Business, a specialist franchise marketing agency and integrated sales call centre. Led by James Cotton, Co-Founder and Franchise Development Director, with more than 15 years’ experience in the franchise industry, the team provide a hands-on leadership service to help businesses move into franchising.
“We work with a wide range of small business to help them franchise and hold their hands throughout the entire process and beyond,” says James Cotton. “The pandemic meant a lot of people lost their jobs so there are a lot of experienced individuals who are currently out of work but who have tons of knowledge. Deciding to franchise now gives businesses the edge over their competitors because they can recruit the best talent on the market.”
A perfect example of a business that didn’t let the pandemic stop their growth is Revolution Records, who launched in 2016 and franchised in 2020 with the help of Franchise My Business. They are a well-known and respected record retail shop and have already generated a huge amount of interest from potential franchisees with two new franchisees recently signed up and James is working on a development plan with another three.
“We simply would not be where we are without Franchise My Business and James and his team,” says Founder of Revolution Records Brian Keay. “They have not only produced quality leads through Ben’s marketing experience but have dealt with prospective franchisees in the most professional way. The feedback I have received from franchisees is that queries that they have had have been dealt with quickly and expertly. We have been able to secure two franchisees already, despite only coming out of lockdown a few weeks ago.”
One of the points of difference that Franchise My Business offers is the company uses technology and latest resources to deliver the best results for clients. “Our model differs in that our success is aligned to your franchise sales, so we are a true partnership, both striving for your future profitability,” adds James. “We work with a wide range of sectors and this fresh approach to franchise development focusing on results and revenue for our clients, has led to many long-term partnerships.
For other businesses considering taking the leap into franchising, Brian from Revolution Records says: “We think this is an excellent time for small businesses to consider franchising. Lockdown has forced many people to re-consider their way of life, moving out of the rat race and making their working life enjoyable by working for themselves with all the backup a franchise provides.”
If you want to find out what possibilities are out there, Franchise My Business is currently booking informal introductory chats to discuss options. James and his team work with new and leading franchise brands and offer a low fee or success fee only, creating opportunities for every small business looking to scale up. To book your slot with James and the team visit: http://www.franchisemybusiness.co.uk or email firstname.lastname@example.org
About Franchise My Business
Franchise My Business are leaders in franchise development and franchise recruitment. Key figures in the company include:
James Cotton, Franchise Development Director
Benjamin Black MCIM, Franchise Marketing and Business Development
Adam Dudley, Franchise Executive
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