Franchising help/advice

[UonlyLiveOnce]

Hi all,

Having a horrid time choosing a carrer path was involved in the investment world, left after a year and a half, i am interviewing at various different places but nothing tickles my fancy.

I would like to as much a everyone would like to be my own boss but coming up with an idea whih would be profitable is another story.

This is where i need to pick the P'heads brain please. Is it viable opening up a Franchise im in mid 20s i know it will be a huge risk but do people know the ins and outs of what it takes and anyone had an experience of doing so .

Any help would be kind and grateful.

[andy-xr]

I looked at franchising when I was laid off last year, I had some money and wasn't sure what I wanted to do, I was a bit disheartened by the industry in the job I'd left so thought about moving a hobby into a business.

From what I saw around the franchise opportunities if I ever wanted to truly go it alone I would have had a lot of handcuffs on me. While there was no guarantee the business would work, the retainers or other fees that were required made me twitchy when I was spending redundancy money that I may have needed later on down the line if it didn't work out.

On paper the best thing for me was to get another job in the same industry, even though I don't like it, it made more sense. You might be in a better position than I, and I found a lot of info on here about the upsides and downsides

[UonlyLiveOnce]

Thanks for response,

the job market is very tough and i have gone for so many interviews recuritment consultants always call me once they have seen my cv and put me forward for roles.

i do at the time think they have gone well but get no feedback from the consultanat and i always chase but they dont get back to me. (which is not a good sign)

i am in a bit of a pickle, i do wish to open a franchise choosing the right one and whether or not it will work is a huge risk. thanks for your insight,

in hindsight do u regret not opening up a franchise or you happy you chose to stay in the industry you worked in.

[andy-xr]

I regret a few things, but think I'm better off overall as an employee rather than a franchise owner for where I am financially at the moment, which isn't great but has a little more security than my own business would have.

You can still access the job market by yourself, just need to find out who you want to work for, what you want to do and if you have more direct contact you're not having a recruiter qualify you out of something because they misunderstood what you were looking for.

I found my current job myself, and have had experience of dealing with a lot of agents. I'm sure there are some good ones, but either I wasn't good for them or vice versa. Regardless, I knew I couldn't rely on them to get me a job based on how often they were/werent coming back to me

[rog007]

If you have the start-up capital, the drive and the interest, then franchising can be a fantastic route in to business. Firstly identify your budget, then trim down your sector options then do your research. If you're mobile, then of course your options improve; if you're fixed, then see what's missing from your area, assess the demand, and thus profitability, then make the leap if it all adds up. You will need some basic people management, unless it's one of the one-man band roles, and finance acumen too don't forget, Good luck!

[UonlyLiveOnce]

thanks again for your responses,

i think i need to sit down and take a long look at what i want to do weigh out my options i will be doing some research and ordering starter packs from companies which i believe the consumer needs all year round rather than seasonal.

will be tough and a long hard graft but i am up for it.

success doesnt come without hard work