When you take the decision to become a franchisee you have all the benefits of being your own boss but with the backing of a well-established business. Taking the jump from being a well-paid employee to a business owner is not an easy process but by going down the franchise route you are backed by a team that want you to thrive and will do all they can to help you become successful.

Here are some of our top tips to make sure any new franchisee builds a supporting networking around them:

• Collaboration – sharing knowledge and experience is key to forging positive business relationships. As a new franchisee it is important to make sure you have access to the right support, you want to be able to speak to individuals who have already been through the journey you are starting. Request advice on what worked well and what you should try to avoid. Remember you are not alone; you are backed by a successful franchise and make use of all their valuable resources.
• CPD – Continual professional development (CPD) is important for you and your business. Don’t fall into the trap of just focusing on generating new business, of course this is vitally important, but you also must keep learning. As a business owner there are so many things you need to be aware of; sales, finance, administration, product development, supplier costs, the list is extensive. It is a learning curve every day and the more CPD you can consider, the stronger your knowledge becomes.
• Networking – It might fill some people with dread to walk into a room with other business owners and start up a conversation. However, if you remember that probably 80% of the people in the room have the same feeling then it will be a much easier and more pleasant experience. There is no better way of building a strong and reliable business network than going out, sitting down, talking, listening and developing positive relationships with other like-minded business owners.
• Ask – Don’t ever be frightened to ask a question. Whether it is just a simple bit of advice needed, a concern you might have or a recommendation you want, ask for help. Just because you are a business owner it does not mean you have to make all the business decisions. Reach out to your network or your franchise whenever you are unsure or need a sounding board to bounce ideas off.

The world of franchising brings a wealth of opportunities. If you would like to find out a little more our franchising team would be happy to help. Please call us on 01993 706403 or e-mail hello@ngifranchisefunding.co.uk.