Franchising after redundancy
Many people are facing the possibility of losing their job, whether they are the victim of economic difficulties or public sector job cuts. Undoubtedly redundancy is an unpleasant situation to be in and can have far-reaching effects, not only financial. It can sometimes be viewed as a personal attack and one which will reflect badly upon your ability, however, it is unlikely to be viewed as such.
Amidst all the turbulence in the economy over recent years, is it possible that redundancy doesn’t have to mean the end of life as we know it? In fact, now might be the ideal time to re-evaluate your life and career and look at alternative ways of working that you might not have previously considered. As a more secure, proven investment, franchising may soon start to be seen as a viable option for many newly unemployed individuals who are looking to start up their own business.
In times like these, it is not uncommon for a rise in the number of people looking to start their own business as a way to take control of their own employment and future. This however, does come with one main hurdle: the success rates of small businesses. Starting a business from scratch is not an easy task and many more fail than succeed; floored by unrealistic business models, lack of cash flow or problems with the day to day running.
This is where franchising comes in to its own and has the ability to help countless people start their own business, but safe in the knowledge that they are using a business model that is already proven; one that you are trained on; and then supported on for the long run. It removes or reduces many of the hurdles that prevent other businesses from surviving.
Franchising has many case studies of individuals that have started new lives through franchising after redundancy. In many cases this can be helped further if the redundancy comes with the finances to help cover initial start up costs. However, even when it doesn’t banks tend to view franchising as a safer, more attractive investment. As a result, you are more likely to secure funding on a franchise than if you were trying to start up a small business from scratch.
For those looking to find out more about franchising, it is advisable to visit one of the bfa educational franchising seminars.