How to find the perfect franchise for you

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You might just be thinking about it, idly imagining how much better life might be if you could be your own boss. Or you might be seriously considering taking that big step into owning your own franchise business but not quite sure about whether the franchise you’re looking at is for you?

There are a few major questions that you’ll need to ask yourself if you’re thinking about a Learn Play Grow franchise –  or any other franchise.

Why are you are looking?

Are you looking for work life balance? Do you just fancy the idea of a business you can fit around your lifestyle?

Perhaps you want to build up a business that will set you up for the future and you’re excited about having something you can really invest some time and money into, and call your own?

Or it could just be that you’re passionate about something – like working with children and making a positive difference to their lives. Decide which is the most crucial factor for you and base your searches around that.

LPG Kids smiling

What is your budget?

Of course, you’ll expect to have to invest some money into buying your franchise – before you get started, work out how much you can afford and whether you’re going to need finance to get that money.

Learn Play Grow offers an amazing value for money franchise – in fact just last week we were featured in What Franchise Magazine’s top six proven franchises under £10,000. Many franchise opportunities will cost a great deal more, but it depends on your budget and what you want to do.

You’ll need to be really clear about the full amount of money you need to get your franchise off the ground. This will include any working capital you need while you’re building your business.

Learn Play Grow, even though it’s a low-cost franchise investment, can signpost you to a network of high street banks which are integrated into the support programme, so if you need finance, there are professionals on hand to support and to potentially find you a finance package to suit you.   One of the biggest risks to new businesses comes from underestimating the amount of funding needed at the start so do your sums and make sure you’re absolutely clear on the financial commitment.

Creative meeting

How much time do you want to commit?

It’s always going to be hard work when you’re setting up a business, whether it’s a franchise or from scratch. Do some research so that you’re clear about just how many working hours you need to put in to get the profit you need. It’s a cliché but as with any business, with a franchise you get out what you put in, and at first there will be more hours required. Look for a franchise that’s right for you and your family.

Anna, one of our franchisees, said,

“After a very helpful chat with Nino who travelled all the way out to North Yorkshire, I felt Learn Play Grow was the opportunity I was looking for.

“I was totally honest with Nino and said that I would approach it from a part time basis initially, he was fully supportive, and we explored the option of taking on a coaching team to help me build the business so when I was ready to commit to more coaching time the business would have grown to a good level.”

What do you enjoy doing?

If you are passionate and enjoy your job, it won’t seem so much like hard work. Of course, that’s true for any job, self-employed or working for someone else, but if you’re branching out on your own you really need to make sure that you’ll be doing something that ignites a spark in you to get up and make a success of the venture.

The franchise industry is so varied in the UK – anything from drivers, home care providers, financial consultants, children’s activities and cleaning services – you can find something you enjoy and make your own business out of it.

For more information on Learn Play Grow franchises, email us at: headoffice@learnplaygrow.co.uk 

 

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