Confident Leader

Franchise business tips: design your lifestyle

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Women no longer need to be hampered by restrictive careers. Instead you can design yourown lifestyle, be your own boss and achieve a balance. And a franchise business can help with that.

The world today with its new economy, constant connection resulting in 24/7 demands requires a new way of working. 56% of working mums find it difficult to balance work and family life, according to a Pew Research Centre survey. So work opportunities need to provide efficient, effective and productive roles for women that are also satisfying.

More than ever women are looking for options, which isn’t about going part time and dropping pay. It’s about being healthy,having time and energy forwork and familyas well as being rewarded financially.

A mobile or homebasedfranchise gives women the ability to create the lifestyle that suits them, their goals and gives them flexibility.

Some franchise businesses are attractive because of the low cost entry, some as little as $6,000 and knowing the franchisor has systems in place and a support framework providing a safety net is something many women find attractive. Howeverit is so important for women to map out what is really important to them first before buying a franchise.

Think about your own success profile when designing your lifestyle and finding a franchise that suits you.

  • If you’re orderly, systems-oriented with a good eye for detail you will be strong at completing tasks butmay find it tough to act on new ideas.
  • If you’re energised, dynamic, creative and great at getting things started, you may be not so good at getting things finished.
  • If you’re compassionate, long term team player and reliable at getting things done within the time you say, you may seek and need direction on the big picture from others.
  • If you’re passionate, outgoing, great at meeting new people and connecting, you may easily be distracted from the task at hand.

Also know your “must haves” and deal breakers when buying a franchise –

  • Understand specifically the level of ongoing support the franchise provides in different areas. Things like
    • Operating systems – What are you responsible for and what does your franchise take care of for you? How clear, systemised and structured are procedures and processes?
    • Training – Look at the complexity of the franchise and consider the adequacy of upfront and ongoing training given your level of skill.
    • Business development and marketing – Make sure you know what level of marketing, advertising and lead generation promotions the franchise provides and how much you are expected to do yourself.
    • Management and business tracking– Which of the administrative tasks and tracking are taken care of by the franchise, like taking of bookings collecting payments and following up debt and what is your responsibility. What data and access to information do you have and what’s your role in this process?
    • Staff recruitment and training – Is there adequate training and support for your skill level? Do you even want a business that employs staff?
    • OHS and other compliance requirements –Are there sound policies and support to help you know your requirements and responsibilities?

If you’re thinking of buying a franchise or need help growing your current business register for the free Franchising Unplugged Seminar at www.remarkablefranchises.com.au

About Tracy Eaton

Tracy Eaton has 28 years’ experience in franchising and business and has coached and educated 1000’s of people around Australia, across more than 40 industries.

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