| During this time of economic downturn everyone is | | | | a franchise system? |
| trying to think how to get ahead of the recession in | | | | - Taking on a franchise is a long term investment. Fads |
| their business. Equifax, the UK body that holds credit | | | | never work in long term business development. |
| reference information, recently put out a survey that | | | | - What services are in demand now, during the |
| asked the public to indicate their expected income for | | | | recession? |
| 2009. Interestingly over 35% stated that they believed | | | | - Research the brands and see which ones are |
| their income would fall during 2009. There are a | | | | growing both historically and at present during the |
| number of reasons for this. People in manufacturing did | | | | current downturn? Identifying these points helps you, |
| not expect to get overtime and others feared that | | | | the franchise buyer to decide what franchise to work |
| their company would fail. | | | | with. It is easy to research which brands are |
| Points of consideration | | | | productive in the midst of the recession. Make contact |
| Some may decide to bide their time and hope that | | | | with your chosen franchisor, visit the franchisor and |
| their jobs will be secure, others are taking their futures | | | | then check out how their franchisees are doing. |
| into their own hands via researching self employment | | | | The franchisees will tell you how they are performing |
| through franchise business development. | | | | right now and historically. |
| Yes the UK economic outlook is down but its not the | | | | They will also tell you how innovative the franchise |
| same story across the board. Many businesses are | | | | brand owner has been in supporting them effectively |
| advancing during the downturn. These successful | | | | though the recession. Seek out the brands that have |
| concepts offer essential and desirable services better | | | | and are still growing and focus your attention on those |
| and more cost effectively than the others. Value for | | | | for your future. |
| money combined with quality are the driving factors | | | | Beating the downturn is about an increase in sales, job |
| now more than ever. | | | | creation and ultimately confidence. The franchise |
| Choosing your franchise to beat the recession | | | | industry is resilient as it is founded on proven practises, |
| As the UK sees sales growth the recession will | | | | brand, service and recognition. Over 90% of |
| gradually start to ease. Over recent years franchise | | | | franchisees trade profitably according to the Nat West |
| growth has been over five times greater than that of | | | | British Franchise Association National Franchise survey. |
| the UK economy. This is a promising trend for | | | | If you are looking to take your future into your own |
| everyone working in the franchise industry from the | | | | hands and beat the recession via the proven franchise |
| franchisor themselves right through to the end | | | | business model then now could be the perfect time to |
| customer. So what do you look for when researching | | | | do it. |