As we head into the new year it can be a key trigger point for many to start fresh, with a new perspective or a new mindset setting themselves up for success. Unsurprisingly a large proportion of the UK workforce want to make a change to start their own business, but few have the skills, capability or the bravery to start their own venture.
Yet, despite regular reports that a sizeable number of Brits would like to have their own business, we don’t necessarily see those plans coming to fruition. And the stats for business failure by start-ups show that nearly 50% of new businesses fail before they are 5 years old. So it probably isn’t surprising that lots of people want to start a business of their own, many of them do not make the jump.
A much less risky way into the world of running your own business that could help to realise your ambitions is buying a franchise. With a franchise you will be given specific training in business ownership and how to properly grow your enterprise into a successful entity.
With a franchise, you are buying into a tried and tested formula, one which has already proved that there is a demand for the product or service in question. It is recommended that you see other franchisees operating in different areas and see how the business will work in your area. The franchisor will have already worked out all the kinks to the business before they have sold the venture to franchisees, meaning you will have far fewer issues than a conventional startup and any problems that do occur will likely have been faced by previous franchisees, so a fix is likely to have already been worked out to help you.
When entering into a franchise you will have to go through a thorough vetting process and you will be expected to put together a complex business plan including a full financial plan for the business. This is an important step which many first-time franchisees do not spend enough time on.
The business planning process can seem daunting, but your franchisor should help, with templates to take you through it step by step, enabling you to plan where your customers will come from, decide on marketing budgets, and build a ‘roadmap’ to follow as you launch your new venture. Franchise business plans should be based on the previous experience of the franchisees who have already launched, as well as the franchisor’s history so there is a solid foundation for you to build on.
As part of the franchise, you will be provided with comprehensive training in all aspects of running your business. In addition, some franchisors also provide training for your staff and help with the recruitment of suitable staff which will help you to get your team up and running effectively at the outset.
You should receive regular reviews from your franchisor and their team who will provide support to get you back on the right trajectory if your new business isn’t quite where it should be or you are struggling with specific issues.
It’s important to remember that nobody will be entering into a franchising agreement hoping you fail. It is to the benefit of all parties that you succeed, meaning your franchisor will provide as much support, training and advice as possible to help your new business flourish.
So, if you have always wanted to take control of your career and run your own business, make sure you take a good look at the franchising opportunities available in 2026 and give yourself the best chance of success!
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For more information about franchise opportunities in your area please get in touch with our team here: revivefranchise.com/contact-us/
