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Hi all,
TLB now have over 70 franchise areas in the UK, and so far I have been impressed with what they seem to offer after a lot of research into them and others, but they stick out (but then all franchises talk-up thier offering!)
Was going to go it alone setting up a business, but I do see this as a good opertunity.
Anyone on the forum have any input into them ?
Thanks for your thoughts.
Mark.
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We set up our franchise in 2010, A1 Financials, as most enquiries we have received did not want to pay the extra for the initial marketing support and instead learn the skills and proven methods to do themselves as you are marketing 24/7.
As we like to work with the ICB, we have tried not to replicate what is already available through the ICB's excellent support.
Good luck
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Hi frachiase is ok but if you do your homework and get as much help as you can from ciab then i believe we can all do it that is why i have signed up as members and get insurance ect.
Besides you can learn so much from this forum. How much do you want to be your own boss. Just how much is it going to cost to set up from home and grow your biz and decide on what it is you really want.
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Dealt with Franchises in the years that I worked for CA and briefly since.
Pure and simple - I don't like them.
You might kick yourself if you don't try to get your own clients first off your own back.
At present you might not be sure how many clients you can handle for instance.
Starting in franchise whereby x is payable to the Franchisor might not be a good idea for starting up.
.....Have a flick through the rest of the forum about start up business - there is a fairly lengthy and informative discussion about advertising (although it might be in Members in Practice)
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- Fellow PM.Dip
- Practice Licence
- 27 posts
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I am a Local Bookkeeper franchisee. I joined because I knew I couldn't do the marketing that would be required to get the business off the ground quickly and I knew I'd struggle to design a web site I liked. Whilst it is perfectly possible to go it alone - and many people do it very succesfully on their own I liked the idea of a support network behind me. Clients do like that you're part of a network with a brand name behind you - and this will become more beneficial as the name establishes itself in the marketplace. Like any franchise operation they have rules and regulations that none of us like - but we knew what we were signing when we joined. It's a case of doing your homework - call a few and ask them for their experiences. We'll all talk to anyone who calls and you'll get both negative and positive responses.
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Hi Flossie,
Thanks for the reply. Pro's and cons I guess, a bigger brand and established network versus starting from scratch.
I like the idea because of the marketing support/web presence and you automatically become an established company as it where, even if you have just started out with the franchise.
Still doing some more homework and hoping to catch up with current franchisees, if I can get them on the phone ! :).
If I can talk to you directly let me know, click my name in blue for my email address and you can email me your details directly.
Thanks again.
Mark.
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- Fellow
- Practice Licence
- 4 posts
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Hi there,
I looked in great depth at this franchise and even sent over my deposit to hold the territory I wanted. However I have a very good friend who is a solicitor and asked him to look over the contract before I signed it. He freaked out when he saw all the restrictions that were in place and told me under no circumstances to sign it. Turned out to be the best thing I ever did and started up my own business a year and a half ago now and earn a good wage from it and have 2 girls working for me part time with work coming out of my ears. Its really not hard to get started and I am more than happy to give you some tips about how to get started.
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Littlesoph
I think your terminology for the reaction of your friend is perhaps inappropriate and could lead to action for defamation. All who post on public forums have to be careful.
It is a subjective view and only those who have seen the contract would be able to agree or disagree. Clearly there are those who have a contrary view to you.
I would expect - and I am neither connected to the organisation concerned nor have I seen the contract - that it has been properly checked by their solicitors for verfication as to the legality.
If you had been advised by your friend to go ahead and the transaction had gone sour would yor friend have been able ready and willing to pick up the pieces?
Anyone considering a business transaction - whatever the nature - should seek independent advice and a large number of solictors will provide a fixed fee interview and will also have professional indemnity insurance in place if the advice turns out to be incorrect. Friends are not normally known for giving independent advice.
Definition of friends is a) that they usually tell you what you want to hear and not what you need to know and b) a friend in need is a pain in the ...........!
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- Fellow PM.Dip
- Practice Licence
- 27 posts
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Little Soph, had you given the contract to a specialist franchise solicitor they'd have told you that the T&C's were fairly standard for the franchise industy - although the new style contract is more restrictive than the old. It is very prescriptive but the idea of a franchise is that if you follow the model you will be succesful, go your own way and you won't. Obviously many people are very successful without being in a franchise operation - but it depends on your own personality and make up which route is best for you. You have to consider all options and then go with gut instinct - and then work very hard at whichever path you take.
I think the big misapprehension with any franchise is that you don't have to do any work and that the work will fall into your lap because you have a "brand name" behind you. Well sorry, no, it doesn't work like that. Most work will still come from your own efforts. People work with people - people they know and trust. You have to be out there networking and doing business development constantly - as well as doing the work to earn a living. Starting your own business is never an easy option but can be very fulfilling (I was going to say rewarding but I haven't got to that point yet !!)
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- Fellow
- Practice Licence
- 4 posts
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Sorry if I have said anything out of turn, it was completely unintentional if this was inappropriate. The original quesion asked was if anyone had any thoughts on the subject and these were my thoughts. I think next time I will keep them to myself as the last thing I want to do is get into any trouble or upset anybody.
Apologies.
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- Companion Fellow PM.Dip
- Practice Licence
- 1137 posts
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Hi Littlesoph
You are entitled to your views with regards to this issue. If that is what your friend advised and you trust them that is okay . I read it as your personal experience . You have not mention anyones name so there is no problem there with regards to defamation. At the end of the day your friend was trying to help you. I would also advise that you should also get advice from a solicitor that is impartial . I am sure the contracts are all legal . At no point in your post did you indicate the contract was not legal. Just because it is legal does not mean you have to like the contract or that it is written to benefit you. That is why it is your choice to sign or not to sign a contract
My advice to every member to get a solicitor to look over whatever contract they might sign. Also check the directors out using companies house web check how long they have been going and their record before you part with any money. I do that every business I part money with. If their sole traders do some research and check out some of the clients through websites or phone them.
It is a personal view. I would never be interested in paying someone a penny of my earnings . The view put forward about advertising is a weak one as it costs you more in the long run to be part of a franchise.
After all their not a friend either and no business is doing it for the good of their health. They do it to make money . They are just running a business like anyone else and there is nothing wrong with that.
Mark I would contact the ICB also to find what is the norm of the percentage of earnings they take. After all why line someone else,s pocket when you can set yourself up. This is a personal view , but how many customers have actually heard of these franchises and are you really getting the work from been part of a franchise or the work you put into it. Some of them also take a percentage on the clients you get also.
Edited at 28 Mar 2011 12:40 AM GMT
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