Most business minded people consider the world of franchising, even those uninterested in starting their own company would look into the world of franchising some point in their career. Being your own boss could lead to a better work life balance and a bigger sense of freedom, something most of us strive to achieve in our jobs. A franchise can assure that quality of life because it’s already supported and succeeding.
Investing in a franchise can create the type of work life balance we all dream about, plus people without any business background, could become a franchisee.
More and more companies are leaning towards the world of franchising and creating a lot more options for franchisees to consider. It allows investors to follow their passion, while being successful with the support from head office.
We tend to forget that there are a lot of different franchises available and a very successful and prosperous choice is a business services franchise.
Of course a business in itself is successful and running, but it depends on other services and companies to help keep it going. A business service franchise usually has a guaranteed set of clients, well-established businesses that have investments and contracts with their service providers. Investing in this type of franchise allows you the freedom to provide to your customers, without having to search for them.
Before applying for a business service franchise, it would be wise to research their affiliates and how many companies you would service within the surrounding area.
That is a limitation to a business service industry, if there are not many companies in the surrounding area, a franchise may refuse an application. Without clients to serve in the area, there will be no profit.
A problem first time business owners run into is losing customers or not having enough, they could face a struggle with the overall economy or a misunderstanding with supply and demand. The business service industry is not dependent on clients, but rather businesses and even if the economy is faltering, big name companies will keep its doors open and continue to need certain services to succeed.
There are many different service industries in the franchising field and while providing a service to a well known company may be exciting, you can also follow a personally passion in your choice of services.
Nowadays most businesses are dependent on some form of technology to function properly and turn a profit. From debit machines, to the internet, computers and surveillance cameras. Our world is dependent on technology and the business world has become more successful due to innovation.
It’s nearly impossible to run any type of company without depending on technology. A technology servicing franchise usually has a well-established clientele but can also appeal to smaller businesses or one incident situations.
Employees would be trained within their field and as a franchisee; there would be a lot of liberty to allow others to run the business. If you have a passion or background in technology, it would be beneficial but not crucial.
There are many different fields to consider within this industry alone and a lot of competition as well. It’s likely that a lot of internet service providers are already well established within most of the communities, so it’s unlikely to enter a franchise with them. While starting a new franchise would create a lot of competition and a lot of businesses already have a contract with big end service providers.
However it is worth considering because mobile and internet franchises create a lot of profit. Definitely research the big names and see what is available in your area, speak with a franchise representative, if this an area you would like to consider.
Another service provider that will not sway with the ebbs and flows of the economy is a cleaning service. Though some companies may tend to take over their own cleaning and maintenance during a rough patch, big cleaning franchises have an established clientele with long term contracts. Again, if this is a field you are considering, it is best to do research and look at contract stances and what clientele the franchise has guaranteed agreements.
Hotels usually use corporate cleaners, as do big businesses, so you have to consider the available clients surrounding you and where you want to set up.
As a franchisee, this business opportunity can run on its own, while you can create a decent work life balance. The hours of operation will be dependent on a lot of the businesses because they may prefer services during the after-hours. However, most floor work is provided by employees.
Shipment and Delivery
A lot of companies are dependent on shipment and delivery. Even offices depend on shipping and delivering services for supplies, whether it be pencils, or paper or coffee or toilet paper.
Once again, this is a franchise that may or may not have a set of clients contracted to a service, which will easily create a successful path to profit.
There is a lot of competition within the shipment and delivery industry, making it important to perform a lot of research before hand and it would be suggested to talk to a lot of other franchisees within the field.
For those considering a franchise, sometimes the business service is easily forgotten but not reasonably so. It’s easy to run, creates a great work and life balance, while also has a proven success rate. There is less stress depending on the established clientele and the franchise branding gives an investor an upper hand against small businesses. However, a lot of these franchises are well-established in certain areas and are unlikely to create more within their field.
It’s the type of franchise that needs a lot of research, especially with the wide variety of services, but the initial work pays off. A well-established franchisee looking for a different field of interest could likely pick up a service business and balance all his franchises without much stress or loss of home life.
Of course it is great for a first time investor and is also suitable for long term franchisors who are looking for more. Overall, the business service industry is a safe bet, while also being a profitable one.
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ABOUT THE AUTHOR: After receiving an English Degree, followed by a Journalism Diploma, Gina Gill became a freelance journalist in 2008. She has worked as a reporter and in communications, focusing on social media. She currently works as a community information officer with Epilepsy Society, while pursuing her writing career at the same time.