The franchise industry is synonymous with partnerships. At every stage of the franchise model across all brands, we can see the true power of collaboration, cooperation and what franchisees and franchisors can achieve by utilising people’s strengths to their fullest extent. And with more entrepreneurs choosing the franchise industry ahead of the risks of an independent start-up, the proof of concept within the franchise industry is continuing to be affirmed. Here, Chris Wootton, the Managing Director of the domestic cleaning franchise Poppies, discusses the benefits of launching a franchise with a partner.
More experience makes an operation well rounded
No two partnerships are the same. That is certainly a good thing when entering the world of franchising where, equally, no two brands are the same either. Whether it is through friendships, family, or professional partnerships, franchise brands have always benefitted from the value that multiple people can bring to business operations. While requiring close management and commitment from all parties involved, partnerships are an ideal route to utilising a diversity of skillsets to boost the all-round running of a business. For prospects coming to the crossroads of choosing to go it alone or launch a business with an equally passionate and excited individual, consider the unique strengths you each offer that will complement your franchise operations. Almost certainly, there will be considerable areas of expertise that you both uniquely bring that could also be your way of placing your business further ahead of the competition upon launching.
Balancing the workload
The last 20 years has seen the nature of franchising come on leaps and bounds from its humbler beginnings. No longer a simple transactional process between franchisor with a franchisee delivering a successful business on a local level, the demands of franchising have increased significantly. Requiring expertise in marketing, administration, business development and financials to name just a few, owning a franchise brand is much more than it says on the tin. In a partnership, workload balance is maintained and distributed evenly, meaning businesses can grow faster, keep a streamlined and seamless operation and utilise everyone to their best strengths.
Gill Winmill, franchisee of Poppies Doncaster, believes there is strength in trusted partnerships that can be the route to forging a long, successful shared career.
“My husband Terry and I actually met when he interviewed me for a job, so our partnership has always been intertwined with business!” says Gill. “We decided to launch Poppies when we had young children to fit in with our personal lives – it worked perfectly and has done ever since. We’re approaching our 23rd anniversary this year and we’ve always managed to balance our workload and roles to suit our strengths. This has enabled us to establish ourselves in the communities that we serve and scale successfully while eliminating the risk of missing important opportunities and processes. In a partnership, there’s no right way to balance the workload. But in a franchise network that has everything laid out to help franchisees succeed, it’s the perfect way of sharing success with those close to you.”
Many partnerships choose to split the workload from an operational to administrative capacity. However, it is important to remember that as the owners of your own business, you have complete autonomy and control of how to share and maximise your productivity.
Immediate opportunities to scale
One of the major reasons prospects opt to buy a franchise rather than start their own business is because franchises have a better track record of success. The NatWest figures back this up, indicating that over 90% of franchisees make a profit while less than 1% of franchises fail each year1. With this credible information at our fingertips, it is making increasing sense for franchisees to scale quickly and strive for more. And when franchisees have the benefit of a partner to back any major business decisions, the scales are tipped between risk and reward. With several voices contributing to a business in a management position, more time can be devoted to making key decisions, and as such, a clearer, more thought-out path to growth is established. While this is not necessarily the approach all franchisees choose to take, with individual needs and ambition taking precedent, partnerships are a great ideal route to maintaining energy, ambition and direction.
Article written by The BFA