Has lockdown made you reconsider your life…? Could a franchise help you realise your dream of owning your own business.

When it comes to starting your own business it should NOT be all about the money….. after all there are many people that earn good money but hate getting out of bed each morning. They hate going into work each day, they hate the thought of another meeting (or video call).

To do something consistently well you must enjoy what you do. Imagine waking up every day looking forward to what the day will bring, the challenges you will face and ultimately seeing the smiles on customers face. Imagine receiving Customer Reviews to say “thank you” for helping…!

That said money and knowing your numbers does hold the key to opening up the possibility of joining a franchise or even going out on your own.

It is not unusual for people to focus on the question “how much does it cost…?

The upfront financial investment is obviously a factor in joining a franchise but it part of a bigger picture and cannot be judged on its own.

At this stage it is not as important as knowing the answer to 3 questions;

  • can you see yourself owning the business (and loving the work)?
  • what do you NEED to earn to survive?
  • and what ultimately does the business need to do for you?

Rarely can prospects answer all 3 immediately and yet they are pivotal to making the right decision.

The financial investment of a franchise might seem very simple but there are lots of factors that need consideration;

  1. Initial Franchise Investment
  2. Cost of a vehicle (it is not included in the initial investment)
  3. Do you have savings or not
  4. Will you be able to borrow or not
  5. Property owner or not
  6. Good credit history or not
  7. What do you NEED to earn

We have a process that addresses all the questions logically but we don’t waste time on them unless we feel there is a mutual benefit to continuing our joining process.

We use the word NEED and not WANT…. They are very different questions and therefore different answers.

We recommend a simple process of sitting down and working out your household expenses. Do it precisely and evaluate everything you spend on an average month.

It is vitally important that you understand what you need to live, and then it helps us to understand what is needed to give you the best chance of success.

It might seem simple but we have some recent examples where knowing the right numbers has made the franchise a financial reality when otherwise it might not. We also have cases where not considering the numbers properly (or not disclosing the full facts) has added pressure to a franchisee once they have started the business.

So right now, if you are seriously thinking of joining a franchise or going out alone, sit down and start looking at your finances.

Look at it honestly and don’t make assumptions or draw your own conclusions……. we have made the  finances work in many different ways.

Depending on your circumstances you may need to ask if you are prepared to make some savings in your finances to help the initial months…. Eg. are you prepared and able to swap your prize car for a commercial van…?

Any compromises at the start can be repaid many times over through the experience of being part of a successful franchise.

You see starting your own independent business is tough………. Most fail. But with a franchise the results are so much stronger and we want you to succeed therefore we make sure you have the best set up and opportunity to succeed.

To chat and see if a Lockforce franchise might be right for you call 01491 225 017 and speak to myself or Gayle Baker or email recruitment@lockforcefranchise.co.uk