NewsCase StudiesEvents

Take Control of your Future: Become Your Own Boss

Also in the news...

Thermal Inkjet Printers: The Key to Efficient Branding in Global Business Expansion

Maintaining a cohesive and recognisable brand can distinguish success and obscurity in an increasingly competitive international market. Continuous inkjet printers (CIJ) have emerged as essential tools for businesses seeking to establish a strong global presence. These sophisticated machines offer unparalleled print quality and versatility, which is crucial for consistent branding across borders.

5 Tips to Choose A Telemarketing Company for Your Business

Choosing the right telemarketing company can make or break your business’s outreach strategy. Whether you're looking to expand your customer base, generate leads, or boost sales, finding a telemarketing partner that understands your needs is essential. To help you in this important decision, here are five key tips to consider when selecting a telemarketing company for your business.

Record-breaking International Investment Summit secures £63 billion and nearly 38,000 jobs for the UK

Nearly 38,000 UK jobs are set to be created across the UK after a total of £63 billion of investment was announced around today’s International Investment Summit.

UK trade agreements

Businesses can trade under agreements with the following countries and trade blocs.

Foreign Secretary visits China

Foreign Secretary David Lammy arrives in China on two-day trip, which will include meetings in Beijing and Shanghai

Take Control of your Future: Become Your Own Boss

Back to News

Franchising is the word on everyone's lips, but is it right for you?

If you are dissatisfied with your career and long to follow your passion, franchising gives you the opportunity to do exactly that. Franchising allows you to take control of your future by taking ownership of an established business. Imagine opening up your business with already a strong foundation of clients and customers; or not having to worry about trivial problems like what design your logo should be. All this is already in place when owning a franchise, allowing you to get busy on running your business properly.

9 out of 10 franchises report profitability in the first year, compared to 5 out of 10 businesses that go bust. This is because franchising is a tried and tested business model where you will have the ongoing support and access to the franchisor's experience and expertise; essentially minimising the risk that comes with building a business from scratch. This is backed up with statistics, as in 2015 less than 1% of franchises closed as a result of commercial failure.

Choosing the right franchise

From fast food and coffee, to consultancy and automotive, there is a whole host of franchises tailor made to suit your passions and interests; so when deciding on your industry you should consider the following:

Budget- Franchises range from £500 to £1 million.

Skills- Find an industry that suits your existing skills set.

Passion- Choose an industry that genuinely interests you.

Market- Look at which franchise industries are currently growing.

Lifestyle- Will it give you the work- life balance you want? Maybe you want to work from home, part- time or on the go. Knowing what you want is key.

How will you finance your franchise?

You have now decided on the franchise you want, so how will you pay for the investment?

Loans from the bank- Because franchise success is so reliable, banks are keen to provide credit to potential franchisees. To finance your franchise, you will need at least one- third of the investment to come from your own capital.

Start-up grant- The Enterprise Finance Guarantee is available to any person who has enough money to finance partly the cost of the franchise, but does not have enough collateral to finance a loan.

The Government- Since 2009 the government has assisted over 18.000 small businesses by underwriting up to 75% of the loans they have taken out.

For more information on whether franchising is right for you, take a look at this infographic from Reed Commercial to see if you’re ready to become your own boss!

You are not logged in!

Please login or register to ask our experts a question.

Login now or register.