Franchise Focus Business News…

We’ve all heard the statistics about how the franchising industry in the UK is flourishing! And that gave us some insight into the fact that redundancies can lead people to start their own businesses or franchises. This is proving to be true, all across the UK.

According to research conducted by the GetSet for Business consultancy, 40% of business owners say their fear of losing financial security prompted them to start their own business.  Of course, other factors that drew people to start their own business include flexible hours and working from home, as well as being your own boss.

In fact, many of the success stories from franchisees have stemmed from a redundancy, which made the individual then consider going into business for themselves. Instead of considering redundancy as a doomed life sentence, it can be a great opportunity to do what you’ve always wanted to do!

People who have been made redundant were often in jobs where they gained much knowledge and skill. Franchisors are often looking for people with experience in certain fields and marketable skills (although training is provided in many franchises), as well as a track record of success and the funds to draw from to start the franchise.

One of the most important things to consider if you become unemployed is whether or not you have the capital to open up your own business. This could be a turning point in your future. Instead of rushing into job search mode, you may want to think about the following:

• Am I currently happy in the field I am in, or do I want to change sectors?
• Do I want more flexibility and freedom in my work week?
• Do I want to try something new?
• Am I wanting to work for myself and be my own boss?

Consider your answer to these questions, and think about a franchise: after all, 9 out of 10 franchises succeed, whilst 4 out of 5 independent businesses fail within the first two years of business. Then consider looking for a franchise that could be your dream job!