Franchise Focus Business News…

Mumpreneurs

Maternity conditions have improved dramatically in the last two millennia, as has the role of the mother.

Many women are now choosing to open small businesses for some extra dosh (always handy at this time of year!) and a better work life balance.

With crèche costs becoming prohibitive for many who would return to the workplace, running  a business from home can be the perfect opportunity to avoid throwing the baby out with the bathwater.

We’ve selected eight franchises which can be run from home on a part-time basis with low investment requirements, perfect for those would-be mumpreneurs out there.

With a franchise or business opportunity, the business has been proven to work for others, so you can get on with making money instead of trying to find and test out a new idea.

Highlight what skills you have and play to your strengths.

Mitchy Titch is a business providing yoga-based fun and fitness classes for babies and toddlers in children’s centres, nurseries and similar venues throughout the UK.

Big Local App is a dedicated local resource directory bringing together businesses, local news, events and information to provide real value to members of each of its edition areas in a way that national directories cannot.

Snak Appeal is a local franchise business opportunity in the charity sector providing a service to business and leisure premises with our quality sweets and snacks.  Dropping off and collecting the honesty boxes, you can fit this around the school run and take time off for the summer holidays.

Laser-It Technologies is an affordable, easy to operate with huge consumer demand. This unique franchise system uses cold laser technology to reduce wrinkles and eliminate body fat.

When The Music Stops If you can’t help but try and marry friends and family off, use your matchmaking skills to run a dating business organising fun events, online dating or both.

Link Telemarketing With this telemarketing business opportunity, your clients will be provided for you, leaving you to concentrate on running your own business successfully. All you need is a telephone and laptop!

Sing Your Name is a distributorship offering a wide range of hugely popular personalised children’s products unlike any other company in the world. Put a smile on someone’s face with story books and audio tapes

LCF Jazz Mataz is an educational music and fun club for children. It is both a social event for both parents and pre-schoolers and a programme using music, rhyme and song to enhance development.

View more home-based franchises

View more part-time franchises

View more children’s franchises

View more health and beauty franchises

1. Ask your franchisor is it possible to pay in installments, instead of a lump sum investment. For many businesses this just won’t work, but if your preferred franchise doesn’t involve buying and selling large amounts of stock it may be an option.
2. Consider less expensive franchise opportunities. If you want to start a web design business, but are prepared to go without some of the supports and packages of some more expensive businesses, a cheaper option might work for you.
3. Shelve the idea of buying a franchise for a few months,and save up to invest without having a loan hanging over your head. A little bit of extra time will give you the time to make sure this really is the path you want to take.

Consider borrowing money from friends or family.

This is happening more and more, as the “Access to Finance 2007 and 2010″ report revealed. If you decide to go down this path, there are a few crucial things to keep in mind:

• Research current interest rates and the tax implications of borrowing from a family member. Even if you agree not to pay interest, the taxman might still expect a payment from income earned through interest from your lender.
• Be realistic. Discuss a feasible payment schedule. Every penny counts in the early days of a new business, so high loan repayments might be a cross your business won’t be able to carry. Will you be paying interest on the loan? Over what period will you pack back the loan?
• Contract. Whilst an IOU on the back of a napkin is not a suitable place to put your loan agreement in writing, writing a promissory note (informal contract) is not a very complicated process. The document should outline the amount of the loan, the interest rate(s), the term of the loan, what will happen should the loan not be paid back and collateral (if any). Make sure the document is structured, signed by both parties and a witness and that you keep a copy. You can download a sample contract online. However for loans involving large sums of money it is advisable to seek legal advice.
• Taxes. File all the relevant documents  that apply to your loan for tax purposes, you may also have to make these available to your lender.
• Relationship. When it comes to discussing matters related to the loan, it is absolutely vital that you try to maintain as professional a relationship as possible. Keep your payments on time up-to-date with the contract requirements. Your relationship will suffer otherwise.
• Communications. Equally, if you run into difficulties with the loan, discuss repayment options with your family member. Banks often restructure loans for customers struggling to repay. This should be a last resort.
• Your business. Make it clear from the onset that this is your business, and a loan is not a free reign for your family to criticise and give unwanted advice, unless you want their opinion. Blowing your loan on fast cars, loose women and scratch cards could give them cause for concern, so avoid squandering the money.

In an economy that’s just coming back from the brink, working from home offers a safety net for many businesses whilst they are starting up. For others, having a home-based office is a permanent solution to their working requirements, i.e. a web design business.

Working at home means that you can be there for your family for the important moments, catching those one-time only first steps, watch your hubby put on the dishwasher or learn to play bridge with an elderly relative.

It also saves time and money from a tiresome commute.

Without a team of Feng Shui experts, interior designers or ergonomics consultants, home offices can often become unorganised, so we’ve come up with an easy plan to get your home office looking professional and your business off to a great start.

Sound, Air and Light:

• Choose a quiet room in an area of the house that doesn’t get much traffic. Right beside your living room’s flat screen or your tot’s playroom will definitely distract you from your work duties. (If you over hear a Jeremy Kyle paternity slot you may well listen out to hear the results of the lie-detector test….)
• If this isn’t possible, consider some ambient sound or sound-proofing.
• Natural air and light can go a huge way towards boosting concentration and productivity levels. Try to use a room with lots of natural light. In the depths of a dark winter, make sure your office is well lit so you can see what work needs to be done.
• When outside temperature allow, try to keep windows open and get some fresh air circulating, to help focus you and clear your mind of distractions. In winter, keep the office well-heated, and well-ventilated in summer. Avoid the temptation to get too cosy however, studies show that we perform better when we are slightly cooler. Keeping a few plants around your desk will help oxygenate your room and boost your brain power. Position your computer screen to avoid a glare from the sun/lights.

Desk:

The main focus of your office, the desk should be placed to suit your own needs. Ask yourself:

• Do clients visit you in your home often or do you just work alone?
• Some Feng Shui junkies advise against putting your desk in front of a wall, but will you be distracted by looking out the window?
• Make sure you have a comfortable chair at the right height for you to view the computer screen.
• Keep your computer, telephone/Smartphone and a post-it pad. Try to keep this desk paper-free.

Printers et al:

We’re edging closer to a paperless office each year. Of course the amount of paper you use will depend on the nature of your business, but investing in a high definition, larger computer monitor will reduce the need to print out documents to read. If you only use your printer and filing cabinet sparingly, consider keeping these in the garage or basement, especially if space is limited.

• If you have enough space, keep notepads, pens and the printer on a small table at a right angle to your desk, forming an L-shape.
• Invest in a sturdy bookshelf if you have a lot of hard literature. An external hard-drive is often over-looked by home office workers, but it is vital to back-up information. Depending on how often you use the computer, back up weekly or monthly, and store this in a location away from the main office, i.e. in your sister’s house or your car.

Décor:

Looking at the same drab four walls all day, every day would leave Richard Branson uninspired:

• You needn’t spend much on your office, even a lick of fresh paint can do wonders to pep you up.
• Perhaps you could keep a notice board with images of smiling, satisfied clients?
• Or how about framing career memorabilia, or a collage of images that remind you of goals towards building your business?
• A few plants will freshen the air up but try to keep clutter to a minimum, you don’t want to be falling over dead carnations.
• If you don’t have much natural light consider putting a mirror on one of the walls

Separating Work and Home Life:

Working from home will, inevitably, make it harder to separate family duties from work needs, but there are several steps you can take to ensure when you’re working you can focus on getting important tasks done.

• If possible, use a different entrance or dedicate an entire room to use as your office, so you can close the door and be done at the end of the day.
• For many people, this won’t be possible and you’ll have to combine your office with another room. Try to choose one which is used rarely, i.e. a spare bedroom, not the kids play room. Put a plan in place so you can easily convert your office back into a bedroom when it’s needed (Or not if you don’t want the in-laws camping out over Christmas…).
• Set boundaries. Tell your family that when you are working to avoid constant contact, like they would if you were working in an external workforce. Arrange to meet your wife in the kitchen for elevenses or lunch, and avoid unnecessary contact outside these designated times. This way you can enjoy each other’s company and take a break from work. Her asking what shirts you want washed will just serve to distract you.
• If you have small children at home, try to have someone mind them for you within the home, at least one or two days a week. This way you can catch all those important moments like first steps, but avoid a screaming toddler interrupting your first meeting with a new client.

BUT if it wasn’t for that first date, you would never have found your wife, and without a job interview you would never have gotten the job that has given you the experience and knowledge you have today. So we’re all going to be nervous asking for a loan to start up a new business, but it’s the first step to business success.

We’ve complied a list of Dos and Don’ts to help you glide in the bank manager’s office with the confidence and composure of a talented and prepared entrepreneur.

Do

• Know your figures inside out, have them checked and double checked. Asking the manager for a pencil whilst working out percentages on the back of a Tesco receipt won’t showcase you as the thoughtful and organised business person you are. This is even more important if are meeting the manager on your own.
• If possible, bring a charming accountant or well-versed liaison officer from your potential franchisor. You still need to know your business plan and financial documents by rote, but they have years of experience dealing with figures and accounts.
• Sell yourself. Include your CV and a small personal history about yourself. Explain why you’re passionate about this business model, your experience and your motivation. If you have been a truck driver for the last decade what has pushed you to open a gardening franchise? Convince the manager that this is the right franchise for you.
• Use the bank’s planning templates and documents. You can download these from their websites, or pop into your local branch to pick some up.
• Research what start-up grants (if any) are available from the government. How much are they, have you applied for them? If you’re not entitled to a grant why not?
• Prepare a worst-case scenario projection along with the more positive ones. Be honest with the manager and with yourself. If things turn for the worst you may be liable for a large repayment.

Don’t

• Forget to bring ID, a utility bill and three months of personal bank statements if you need to open an account.
• Ask for the entire amount required to start your business. Banks can provide up to about 70%, but you must have a cash stake in the business. Why do you think most racing horse trainers back their own horse to win?
• Be late, impolite, impatient, dirty or disorganised. No-one wants to deal with unorganised people. These are an instant turn-off. Act like you would on a first date (avoid playing footsie however…)



• Leave without arranging another meeting with either the manager or someone else in the bank. Hearing “I’ll be in touch”, can often be the last words you hear before an impersonal rejection letter graces your letterbox weeks later. Convince the manager that this is a great idea, and if he has any misgivings that you are prepared to work through them to produce a solid business model.
• Give Up. It is far more difficult to get a penny out of the banks for start-ups these days, so don’t loose faith if you don’t get to draw down your loan straight away. If you are rejected, arrange a meeting to discuss where the pitfalls were. Go back to the drawing board and revisit your research.

1. Choose one employee to start planning for severe weather disruptions now. All final details can be run past the boss when the time comes but get a plan in place.

When the snow hits, minimise this persons other duties so they can monitor road closures,public transport and safety warnings (instead of your whole staff checking the warnings twice an hour).

2. Survey your employees finding out:

• How do they get to work?
• How long does it take?
• Are there any alternatives? i.e. Public transport?
• Was it disrupted last year?
• Have they a laptop?
• Have they a (reasonably fast) Internet connection?
• Have they a land line telephone?
• If schools close will they be able to work with children in the house?
• Have they access to the office server?
• Collect up-to-date mobile and home telephone numbers.

3. Working from Home - With your employee information gathered, plan what will and what will not be expected of employees.

Use chat and video software to hold meetings and keep conversation alive. Use cloud computing and memory sticks/portable hard drives to back up all data. Plan work that can be done without an Internet connection.

4. Assess the legal situation. What’s reasonable to expect your employees to do? Will working from home count as attending work? What is the entitlement to time off, unpaid and paid leave? Will you force employees to take holidays? Must you provide flexible working hours (i.e. to allow employees to leave earlier to avoid traffic congestion?)

5. Keep everyone informed. Send text alerts to your employees with any logistical updates. If most people are working from home keep touch base once or twice a day at least.

6. If most of your office is able to make it in, make sure walkways are kept clear of ice and snow, and check NOW that all pipes are insulated and the office is waterproof.