The Answer In Shaky Economic Times? Become A Franchisee

11/12/09

By Ricardo Graham

According to the 2009 NatWest/BFA (British Franchise Association) Survey, the franchise sector is proving to be resilient despite the economic downturn. The survey identified a 3.6% increase in franchise networks compared with 2008. Although there is no 100% guarantee of success, franchising can offer a safer option to that of 'going it alone'. Statistics from the NatWest/BFA Survey support this view as 90% of franchisees traded profitably in the last 12 months.

It is not only in the UK that franchises are seen as a safer business option during times of global economic uncertainty, in fact successful franchising is a...

...global phenomena. Ricardo Graham, owner of the Executives Online franchise in Johannesburg, started up his fast track headhunting business only two years ago and this year became a master franchise holder himself. Graham describes the challenges he has overcome, the reasons for pursuing a master franchise agreement and provides some clear direction for those looking to invest in a franchise business.

"It all started a few years back when I was looking for someone to fill a management position for a project that I was working on. As I searched the internet for the right candidate to fill the executive position I kept coming across a company called Executives Online and it intrigued me. Interim management was not something I had come across before but it seemed an enormously logical and pragmatic solution to the problem of filling short term senior level positions. I also found the idea of franchising appealing because it appeared so much less risky than setting up a business from scratch and going entirely alone.
What I discovered was that franchising leaves you less exposed to risk in all sorts of ways.

For example, because... continued on page two >

 

 

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