If you’re a working parent and you’re looking to enter into the world of business the opportunity to start up as a franchisee can seem a sensible idea. Most of the hard work involved in starting up a new business is already done for you with the franchise but is it a good idea? I took a look at what franchises are on offer for the children’s market. Initially I was surprised at just how much is available. Pretty much every conceivable business idea exists in franchised format.
The main area of franchised businesses involved activities for children especially the toddler age range. The market place is very flooded indeed which is good for you the potential franchisee as you have an enormous choice and can tailor a business specifically to your skills and strengths. The franchise costs also vary enormously from a few hundred pounds to tens of thousands of pounds. There is something for everybody’s budget.
The advantages of running a franchise are that you would receive initial help from your franchisor in launching the business with the sales and marketing. Secondly all promotional materials would already be ready to go thus saving you the time of designing and printing. I know for a fact that this can take an absolute age to do from running my own business. Some of the franchises will also offer you a mini site linking from their main site thus eliminating the need to produce your own website. Again this can eat up a lot of your time and initial budget. Some franchises will offer you an exclusive area so nobody else within the franchise can trade on your patch. On many occasions you are dealing with a well-known brand which will help enormously in the initial marketing of your business.
I looked at some of the terms in the franchise agreements and one of disadvantages is that you are very much out of control to how the business is run and thus eliminating any creative input you may have. Most of the franchises I looked at require you to utilise them as their exclusive supplier to products needed to operate the business. This could be highly frustrating if you are able to source the same products at a cheaper cost elsewhere.
I can see some great potential in some of the franchises that I looked however some of the start cost is initially quite high. You really need to do your market research to see if the product you going to sell will be successful within your area. Look at other franchises of that product and do some googling to see if their product comes up on the search engines and possibly look at their feedback on social networking websites. Are these guys businesses searchable? Are they popular? Are they making an impact on their marketplace? All this information is out there for you to find you just have to play detective.
Oozy Wiz pop is a children’s entertainer Newbury and commentator on all things related to the children’s business marketplace.