Benefits Of Franchising

Why Franchise?

Franchising is a great option in starting your own business. Not only are you entering a tried and tested business model, but also you don't need to worry about creating the brand - the business is already there and ready for you to take charge but at the same time letting you manage the business as your own boss.

According to the latest RBS/NatWest survey over 95% of franchise businesses are profitable in the first year. Compare this with a failure rate of up to 80% for non-franchise businesses within the first 5 years.

• Recognised Brand And Relevant Trademarks
  If you open a franchise with Mynt Recruitment then you will be doing so under a recognised brand name, thus establishing brand awareness right from the start. This will help you to open new doors, because name recognition will attract new customers, which will in turn create a revenue stream for you.
• Established Market Presence
  Market presence is crucial if you want a chance to make a profit from year one. If you open a franchise that is established elsewhere,  then this will automatically benefit you because the business will have a client base to reference from for you to use in your own marketing plan.
• History In The Field
  If you own a franchise within an established company, then you will also get the benefits of established processes and procedures along with IT systems and software that have evolved over time. As such, you will get the full benefit of the experience of others and refined and efficient systems with few issues to iron out.
• Comprehensive Training
  If you start a business on your own then the likelihood is that unless you know the market place, you will have to learn as you go, meaning that you will might make avoidable mistakes. However, opening a franchise after comprehensive training encompassing everything you need to know will enable you to avoid those mistakes and learn from those made by others instead.
• Higher Success Rate And Lower Risk
  It is a well known fact that franchise businesses have a higher success rate and lower risk than their privately owned counterparts because franchises will often do everything they can to help nurture success.
• Pre-Established Suppliers And Major Purchasing Power
  As a part of the group, you will have access to suppliers that are reliable and trustworthy. You will also have the purchasing power that comes with the brand name and company presence in the market. You get neither when you start out in business yourself because both take a long time to establish.
• Lower Unforeseen Costs
  The cost associated to starting your own business, despite careful planning can be unforeseen at times but, when opening a franchise you have a far better idea of cost, as virtually all are know at the ouset.
• Easier To Start Up
  Many franchises want their franchisees to get into business quickly and will do everything they can to facilitate that. As such, you could own a franchise that is open for business within days instead of the months it will take should you open your own business.

Why recruitment?

The potential is huge.

• The recruitment industry in the UK is worth in access of £19 billion and over the years has out-performed many other parts of the UK economy.
• Over 1 million temporary and contract workers are placed by agencies every week.
• A very high percentage of the Times '100 Best Companies to work for' use recruitment agencies.
• Less than 15% of all positions in the UK are placed by agencies representing massive potential  growth.
• Despite economy the recruitment industry still growing

Do I need recruitment industry experience?

Previous experience of the recruitment industry is not a requirement to build a successful business in this market sector. You do need have a strong sales focus, passion and commitment, coupled with your own personal drive and ambition. An ability to build relationships at all levels is also a powerful attribute. These are far more important than a lack of recruitment experience.

Who would it suit?

Franchising is far more secure than other types of business. The sucess rate is higher, and failures less common. As a result it is suited to a wide range of people - from budding business people to those fed up being classed as number within a big organisation. It's a great way of building a successful busines without all the risks, big start up costs, or hassle of developing your own supplier network.

Find Out More

Find out more about franchising with Mynt