This year is the year. You’ve had it with your obstinate boss or your rigid working hours or watching your efforts line someone else’s pockets. So no more — in 2017, you can follow your New Year’s resolution to find a new career and start your own business.
And we can help.
There are always plenty of reasons to start a franchise, but 2017 may be one of the best times yet.
The Age of Franchisees
One of the biggest deterrents to starting your own business can be age. Many think they’ve ‘passed their prime’ and have missed the chance to be their own boss. That couldn’t be more untrue — especially with a franchise!
In 2015, the average age of UK franchise owners was 49. People over 50 made up 43% of franchise owners, while those 41-50 were 35% of the total, according to the bfa NatWest Franchise Survey 2015. That isn’t to say that all of these franchisees began their businesses years ago and have aged with them, either. The survey also notes that the average age of new franchise owners in 2015 was 41.
The expertise many of these franchisees over 40 bring helps them to ensure success, along with the business model of their selected franchise. While millennials and younger generations have the advantage of more time to gain their footing in a new business, often without worries of retirement plans or families to provide for, more experienced workers choosing a franchise business may not need additional time for set up; their whole lives have been training!
The Stability of Franchising
In a post-Brexit United Kingdom, there is a deal of uncertainty floating around regarding businesses. While the pound has stabilised and everyone in the business world seems to be sticking to the motto of ‘Keep Calm and Carry On,’ there is still a bit of worry, which franchising can help relieve. The franchise industry in the UK has experienced growth each year since 2008 and in 2015 was valued at £51.1 billion to the UK’s economy.
Franchise businesses already have established brand names with a degree of recognisability and trust. They also have a business model proven to be successful and oftentimes include training, marketing, and other promotional materials in the initial franchise fee. This assistance takes some of the risk and guess-work out of opening a business. It means that, as many franchises say, ‘You’re going into business for yourself, not by yourself’!
New Year's Franchise Promotions
Just as you know 2017 is the time to start your business, franchisors know it, too! For that reason, some are offering exclusive New Year’s promotions, such as a reduced franchisee fee or additional materials included. Franchisors are looking for dedicated, hard-working franchisees, so they are willing to boost their offers to attract the cream of the crop in the new year. You can see a full list of franchises offering exclusive Franchise Direct UK offers here.
What more are you waiting for? Carpe diem! If you aren’t sure where to start, simply browse through our franchise directory, where you can filter your search by industry, location, and investment, helping you to find the franchise perfectly suited to your interests. If you need further assistance or advice, we also have a listing of franchise consultants who would love to help.
Good luck and happy New Year!
Post by Anne Rowan