Here’s what franchising isn’t…
With more and more people turning to start their own business, as a franchisee or completely from scratch, we thought it would be helpful to highlight what franchising isn’t to help you decide whether franchising is the right avenue for you. Franchising is none of the below, and we encourage you to give us a call if you have any questions!
Franchisees own the brand
This simply isn’t true. The benefit of joining a franchise is that you aren’t starting from scratch; you are choosing to join a well-established brand with a tried and tested business model that works. Consumers will already have heard of your brand. They’ll recognise your name, they will have seen the colours and you’ll be easily recognised in comparison to competitors.
When you buy a franchise, you buy the right to use the brand, the business model and all associated trademarks of the business. You are purchasing the right to operate the business model within a specific location, under a set of pre-arranged conditions.
There’s little work required
Although we’ve touched on the brand being well-established and known to consumers, you are still running your own business so it’s your job to drive business to your door/inbox. You are responsible for the success of your business. The franchisor’s role is to help point you in the right direction of the tools and systems you’ll need to run your business, just like fellow franchisees.
For Century 21 UK, we provide most of the systems complimentary as part of our franchise package, but it’s your role to market your business to consumers and provide exceptional standards of service. The franchisor is responsible for your initial training and will provide support throughout the entirety of your time as a franchisee, but they won’t run your business for you.
The time and effort to make your business a success is down to you.
Franchising is too expensive
Franchising can be quite costly, but that depends on the type of franchise and how recognisable the brand is. Some franchises charge £100,000+ for the rights to use their brand and business model, whereas others require no up-front costs. Here, at Century 21 UK, we have three franchise models for you to choose from, to help you find the right fit for you:
Century 21 Max – Our high-street estate agency business model, with an initial up-front franchise fee
Century 21 Flex – A flexible approach to estate agency, through the use of a serviced office away from the high-street, with a flexible up-front franchise fee that can be spread over your first contract.
Century 21 Solo – Our working from home business model, with no up-front costs but requires at least one years’ experience in the property industry
Franchising requires significant experience
This is a common misconception, that puts many people off starting a franchise. The truth is, most industries require passion and commitment from a franchisee to drive their business to success – where experience isn’t needed. The franchisor will provide all the initial training to ensure you’re confident to get going before you open your doors to business, and good franchisors will continue that training throughout the length of your contract.
If you’re looking to franchise in the healthcare or educational sector, then you are likely to require experience, but this could vary franchise by franchise. Do your research on different franchises and don’t just take the word of one article you’ve read. We recommend giving the franchise a call and asking the question.
The majority of our top performing franchisees joined us with no previous experience.
For more myth-busting on franchising take a read here.
For more information on franchising with Century 21 UK click here.