According to the most recent report from industry expert Franchise Supermarket, 621,000 people in the UK are employed within the franchising industry, with 97% of franchisee-run businesses turning a profit, indicating that investing in a franchise remains an excellent choice for anyone looking for a career change in 2024.
At Cafe2U, we have a network of circa 100 franchise partners, so we know that deciding to become a franchisee is a big decision, and that those thinking of taking the plunge will have lots of questions to ask.
For anyone thinking of investing in a franchise like ours this year, these are some of the ones we get asked the most!
How much control will I have over my business?
People in the UK are increasingly on the lookout for jobs that offer them the opportunity to take control of their own work destiny and becoming a franchisee does exactly that.
Franchisees are essentially self-employed so, even though you become a Cafe2U partner, you still have the autonomy to make your own decisions on a huge variety of issues, including where, when and for how long you work each week, giving you a flexible job that fits in with your lifestyle and improves your work/life balance. With working from home now the 'new normal', running a business that can adapt to different locations and settings is a great idea and one that is likely to see the franchising industry continue to flourish over the coming months.
If you've ever dreamed of being your own boss, becoming a franchisee will make that dream come true.
How long does becoming a franchisee take?
While results may vary, becoming a franchisee is essentially a simple process that involves an interview between the franchisor and franchisee to ensure suitability, the drawing up and signing of a contract, buying into the franchise and then training for the new role, which may only take a few weeks. After that, you're up and running!
If you want to get a new business off the ground in a hurry, franchising is the answer to your prayers.
How risky is investing in a franchise?
Changing jobs always carries a certain degree of risk but, as we mentioned earlier, the fact that 97% of UK-based franchisees currently run in profit, with fewer than 1% of franchisors closing due to commercial failure, shows that the franchise industry remains a very safe bet for those who choose to join it.
Compare that to the fact that only 40% of new businesses in the UK survive more than three years and it's not hard to see why the industry is so popular.
And the reasons for this are simple. Becoming a franchisee increases your chance of succeeding because your customers are already aware of your brand and its reputation, meaning you have an established customer base that would otherwise take years to build, saving you both time and money on costly promotional activity designed to raise brand awareness.
What is my earning potential?
As we've already mentioned, the franchising industry is a profitable one but 'profitable' could be an understatement. Consistently good performances will see your income increase as a direct result, making your earning potential as big as you make it!
Is a Cafe2U franchise right for you?
If you're interested in becoming the owner of a mobile coffee franchise and a qualified barista operating in your own exclusive area, you can find out more about our franchise opportunities here.
We'll supply you with everything you need to get your business off the ground, from training and equipment to ongoing support and advice on marketing. What are you waiting for?!
