If you had asked me that when I started out at Business Broker school some 11 years ago, I would have probably gone ‘independent’ every time! But that was then and purely to do with my own hang-ups about just wanting to do things my way even if it meant failing!
The truth is, the franchise option just fits so well for many buyers and is the perfect start to business ownership in the Hospitality sector. Whilst there are certainly no guarantees that a franchise café will perform any better than an independent one, the buyer does have the comfort of knowing that they have will have good training and support behind them (normally), a brand to feel proud of and part of, and advice and direction when things don’t go quite to plan.
Franchisors have done the hard yards but that’s not to say that it is all plain sailing. It is your business after all, and the risks are as very real as they are with any business.
Ultimately, you need to be someone who takes direction well and can work within a system. You can’t rage against the ‘machine’ if you want to get ahead under a franchise banner! The reward, however, is a strong sense of belonging whilst still having that wonderful feeling of running your own business and being your own boss. Many franchisees would have it no other way and go on to own multiple sites under their chosen brand.
Of course, there are franchise companies and then there are franchise companies. You need to do your homework and due diligence and choose wisely. Come and talk to us. We are experts in both franchise and non-franchise hospitality businesses, and we have worked closely with the vast majority of franchise businesses out there. We even have dedicated Franchise Hospitality Specialists who live and breathe this important sector of the market.
Nick Giles – Head of Hospitality New Zealand
