Be your own boss, financial freedom, hire yourself, turn your idea into a reality. These are all tag lines I am sure you have heard plenty of times when considering starting your own business (we are guilty of using a few). And they are right, with hard work, determination and maybe a bit of luck you can start a sustainable business that allows you to be your own boss and be in control of your financial earnings. However this approach isn’t for everyone and just because you don’t have that killer idea does not mean your cant still achieve your business and financial goals. What if I told you, you could have all these things but with the infrastructure of a well established brand and business model already in place for you to replicate.
Buying into a franchise is now more available than ever and there are a number of companies that adopt this model. By doing so you don’t have to come up with an idea from scratch, instead you benefit from a reputable brand that offer expert support whilst developing the business. Both franchisee and franchisor will have a vested interest in the success of the franchisee when setting up which creates a positive business model to work under.
This all sounds great, but there are a few points you need to consider before buying your franchise. Although you are in control of the day to day running of the business a lot of the overall marketing and plans for expansion will be decided by the franchisor, so make sure your goals for the future are aligned with theirs before you sign up. The last thing to consider would be the start-up cost involved. More often than not there is an initial outlay to the franchisor to buy the right to sell the product or provide the service, but this is where we can help :). We recently funded Naomi West to buy the Baby Sensory Franchise and she had this to say:
“Although the franchise costs are incredibly reasonable we didn’t have sufficient funds in our family war chest to cover the full cost of set up and running. I cannot praise Startup Direct enough for helping me to get off the ground.”