You need to know about the bumps in the road

18 January, 2016

Before you invest in any business, you need to hear about the challenges - the bumps in the road. This is so important. Franchisors are sometimes fearful that franchisees will be turned off if they raise the challenges like long hours, early start times, staff management and accounts.

 

My argument is that if you are turned off by the mention of these things then you should not invest in any franchise because they all, like most rewarding experiences in life (eg raising children or being in a personal relationship!) involve tough times and decisions.

 

For example, in a Jasper’s Catering franchise one of your challenges will be building your own team, recruiting them, managing them, training them, and dealing with them when they don’t turn up in the morning!  These challenges occur in any franchise or business where you employ people.

 

In some of the world’s biggest and most long running franchises, which can cost £500,000 to invest, the franchisors even state: ‘If you don’t like cleaning toilets then this franchise isn’t for you.’

 

The reality is this. Some excellent returns can be made in franchising BUT it is not easy. It is straightforward in many cases, but NOT easy. There will be bumps, obstacles and some steep learning curves that you will need to deal with along the way.