Case Study - Sue Winterson
After spending a considerable amount of her working life in supply chain management and the FMCG market, Sue Winterson was facing redundancy and unsure where to turn. After contemplating her options, Sue thought about franchising and wondered whether there was a credible white collar opportunity available in the UK.
5 years since joining Expense Reduction Analysts, Sue reveals her reasons for joining one of the UK & Ireland's leaders in cost, purchase & supplier management.
Why did you choose a franchise with Expense Reduction Analysts?
“Because I believed I would enjoy the work and lifestyle whilst earning sufficient money to maintain a great standard of living. I felt my previous skills and knowledge would quite easily transfer to meet the demands of the Expense Reduction Analysts business model and through my research and due diligence I also found it to be a compelling business proposition. Finally, working from home and having the flexibility of being my own boss in control of my own success all appealed.”
“Talking with the network of existing franchisees, who were really willing to share with me their insights into running an Expense Reduction Analysts franchise, made me realise the power of the opportunity.”
How did you raise the finance?
“From my own funds (mainly as a result of redundancy) and from a business loan from the bank, with Expense Reduction Analysts history as a reputable franchisor, this process was quite straight forward.”
After completing your training, what other support did you receive initially?
“I received support from the network and group office. Established franchisees were happy to give me time and support; always on hand to offer advice and provide opportunities such as accompanying them to meetings and first projects for me to do, which are all designed to provide trust. Help is always available when you need it - I remember getting into my first few projects and receiving support from our category experts. I really do appreciate the sense that I am 'in business for myself, but not by myself', as the saying goes.”
What challenges did you face in your early days?
“Personally, I found it very demanding from a financial and emotional perspective. I think that, at heart, I'm quite risk averse so I felt the pressure of time to build the revenue stream and the unsettling feeling of not being sure what income there would be and when, being careful not to spend anything unless absolutely necessary. I remember being at the supermarket checkout and being presented with a bill of over £100, getting out my credit card and thinking 'help, there's no salary coming in to cover this!'”
“However, when joining Expense Reduction Analysts the franchise team and the business coaches were very realistic about my earnings expectations in the first 12 months, and having got over this hill I have never looked back.”
How has being your own boss changed your life?
“I am motivated and have a great sense of achievement. Everything I do is my decision, I believe it's the right thing to do and I have the flexibility to fit it around my family. Since everyone in Expense Reduction Analysts is also their own boss and we have compatible goals, the network works in a synergistic and supportive way which is really refreshing and different from other experiences I have had in the past.”
What advice would you give to someone thinking of buying their first franchise?
“Do your research to ensure that franchising is the right solution for you. Check it fits your skill set and is the kind of role you would enjoy. Also, ensure you have sufficient funds in reserve to see you through those initial times - things might take longer than your plan indicates.”
What are your plans for your business?
“Having started out covering all aspects of the business, from client acquisition to project delivery, I'm now focussing on looking after our clients. Typically this involves ensuring that our clients are happy with the savings being made, and investigating new areas for us to look at.
Our business is about delighting our existing clients and exceeding their expectations, and it makes perfect business sense to generate opportunities with an existing client than trying to sign up a brand new client. I am working out what works best for me and continually evolving my business to fit with this and the changing market. I am cultivating a mix of short, medium and long term opportunities.”
Would you do it again?
“I am happier with my working life than I've been in many, many years, though I personally found it more difficult to get off the ground than some others did. Whilst I would not relish going through the start-up again, I'm so glad I did do it. I would never want to go back to conventional employment!”
