Families in franchising
For those whose family circumstances and needs are a little unpredictable – which is particularly common where children are involved – franchising could offer the opportunity that is needed. The NatWest bfa Franchise Survey revealed that the proportion of women running franchises on their own has risen to around 20% of the total number of franchisees whilst the number of married franchisee teams has remained more or less constant at about 21%.
Through the development of franchising, families have become a significant part of the industry. From husband and wife teams through to parents running the business alongside their children franchising can often be the platform for families working together. In many cases this can be a very attractive way to spend more time with the family. However, many families also consider franchising after one parent decides to return to work after raising children, but finds it difficult to get the right balance with employment.
Offering the benefits of self-employment; variable working hours, working from home/ remote working and the ability to prioritise according to your lifestyle, combined with a greater degree of security the franchise format is understandably attractive to many. Joining a franchise means that you are your own boss, but you gain the right to run a system that someone else has proven will work. This is backed up by the benefits of trading under what may be a very well recognised brand name with support and training to help you succeed. Covering the full scale of professional disciplines, franchising can offer numerous home-based businesses that can allow someone to better balance starting a business with various other commitments.
Franchising does not automatically mean that you can start in business with your partner and live happily ever after. Hard work, dedication and a professional approach is still required – and in many cases the start-up phase will requires many more hours than employment. However, many of the stresses put upon the family relationship are removed or reduced simply by the fact that a franchise provides a proven business model, the brand, and all the other aspects that can floor many start-up businesses. This leaves the people involved to get on with actually making the business work and not worrying and arguing about the many strategic directions of the business.
Of course the people will still have to work closely with each other as part of the everyday function of running any business. It still requires a good level of enterprise and tenacity – but the difference may just be enough to allow friend and family to remain as such.
For those looking to find out more about franchising, it is advisable to visit one of the bfa educational franchising seminars.