Franchise Opportunity
Theres quite a variation of franchise businesses that entail working with children. They include portrait photography, gymnastics, maths and language tuition, singing lessons and a good deal more.
Childrens franchise businesses are generally run by women who are returning to employment or making a career change and desire to build their own business around their family.
10 Things to take into account when investing in a children’s franchise:-
First and perhaps most significantly, do you enjoy working with children?
Next it is vital to chat to your family about starting your own franchise opportunity and make certain that you have their support.
Third discuss how much investment capital you are prepared to put into starting and developing your children’s franchise system. Opening prices for childrens franchise can run from ?2,000 to ?20,000.
Fourth mark out your expectations. What kind of hours can you devote directly to children, what time can you afford for promotion and admin and what kind of profits do you hope to reach?
Put aside time to search out franchise options that will match you and apply for further contact.
Sixth build a short list and ask for a visit to the franchises you have decided on. Meeting the faces behind the company and seeing their support setup is very important.
Seventh chat to the franchisees and seek out if they are happy using the brand and if their operation has been affected by the downturn. A list should be available from the franchisor
Speak to a solicitor concerning the legal issues and also show them a copy of the franchise legal contract which you can acquire from the franchisor.
Nineth speak to your bank regarding account set up and finances. Generally banks have specialist franchise sections that will assist to advise your local manager.
Tenth, recognise which children’s franchise business brand is best for you. Sign up, get trained and follow the brand’s proven system earnestly for best gain on your time and outlay.
Nick Strong is MD of Select Your Franchise and a leading Franchise Consultant to the UK franchise market.
Visit Franchise Opportunities site to find out more about Select Your Franchise.
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