Franchisees whose businesses fail should blame themselves before they blame the franchise, says Freddie Rayner, franchise guru and author of ‘Your Franchise Success’ (www.freefranchisebook.co.uk).
Freddie has estimated that in 9 out of 10 failing franchises, it is not the franchise model that is to blame but the franchise owner who is not fulfilling their potential.
As the founder of the UK’s largest cleaning franchise, Time For You, Freddie has noticed that many people see a franchise as an easy way of earning money with little effort.
He said: “Some people think that by owning a franchise they can sit back and just watch the business grow and the money come flooding in.
“In reality it’s not like that at all. Just as with any new business you have to be prepared to put in the hard work if you want to see the results.
“The only difference is that it costs less to start a franchise, you have ongoing support from the franchisor and the business model is tried and tested for success.”
He added: “It is true that eventually, a franchise can give you a better work/life balance but it still has to be a balance of work and life!
“In my experience, any failing franchisee only has themselves to blame – I was there myself at the start of my career.
“Many years ago I bought into a franchise without doing my research. I thought I could sit and wait for the profit without putting in any hard work and I lost £35,000 in just 10 months!”
“After that hard lesson I haven’t looked back and now I know that a franchise is essentially the same as any new start-up just with less risk.”
Freddie has built his hugely successful franchise by providing franchisees with a tried and tested business model, as well as ongoing training and support along the way.
Time For You now has over 200 franchisees across the UK and is continuing to grow rapidly each month.
Because of his vast experience with franchises –both successful and unsuccessful - Freddie has recently written a book, ‘Your Franchise Success: How to Make It Happen’.
He is giving away free copies of the book so that he can help anyone considering buying a franchise to make the right decisions and warn them of potential pitfalls.
You can get your free copy at www.freefranchisebook.co.uk.