A handful of new franchisees are being set up for failure by a few rogue franchisors who are more concerned with growing their bank account than growing their business.
That’s the warning from franchise guru Freddie Rayner, author of Your Franchise Success (www.freefranchisebook.co.uk).
He is warning against a small number of franchisors who will sell somebody a franchise – regardless of whether it’s the right kind of franchise for them.
Freddie owns Time For You, the UKs largest cleaning franchise with more than 200 franchisees.
He warned: “If you are talked into buying a franchise that you don’t believe in, you will struggle to make it work for you.
“Not everyone is suited to every opportunity. That’s what makes franchising so exciting with hundreds of different opportunities available.
“But there are some people out there who are just concerned about money rather than getting the right match between you and them. You need to know what to look out for.
“If you’re thinking about buying a franchise go about it in the same way that you would go about starting a new business; talk to other franchisees, research the market and make sure it’s right for you.”
He added: “Starting a business is one of the biggest decisions you can make – it’s your entire livelihood. Don’t go into it blind.”
Freddie has built his hugely successful franchise in just 8 years by selecting the right franchisees rather than just anyone who can pay.
He says: “Warning bells should ring if a franchisor seems to care more about their profits than the details of the business.
“Ask the right questions and know what to look out for and you will be sure that you have come to the right decision. If it you feel uneasy, look elsewhere.
“You would also do well to ensure they are a member of the British Franchise Association and adhere to its codes.”
Set up in 1997, Time For You now has over 200 franchisees and is continuing to grow rapidly due to the intensive induction programme and continued support to all franchisees.
Freddie has been hailed as a franchise guru because of his success and has recently written a book, ‘Your Franchise Success: How to Make It Happen’.
The book is written with potential franchisees in mind and advises them of everything they should consider before handing over their money.
You can still get a free copy at www.freefranchisebook.co.uk.