So you want to be your own boss, and you’ve decided that franchising is the way you’re going to do it. Excellent choice. The question to address now is: which industry would suit you best? There are many to choose from, and sometimes informative events such as expos are more overwhelming than helpful. Have a go at answering this questionnaire, which may just help to push you in the right direction:
Are you able to dedicate long hours to this project?
A. Yes – I can put in extra time if needed
B. I can make full time commitment, but still want weekends and evenings free
C. No – I want to start out slow and work part-time
Are you an outgoing, ‘people person’?
A. Yes – I very much enjoy interacting with other people
B. Sometimes – I can socialise and interact when business requires it
C. No – I am more introverted
Are you happy to wear business attire or uniform?
A. Yes – I do not mind wearing fixed or formal clothing
B. Sometimes – I can dress up when required
C. No – I want to always wear casual dress
Can you work on your feet?
A. Yes – I do not mind physical work
B. Sometimes – I would prefer mental tasks to physical ones
C. No – I need sedentary work
Are you willing to travel?
A. Yes – I am happy to be out and about
B. Sometimes – I prefer to be based on one location but can travel when necessary
C. No – I want to work inside on the same premises every day
Are you happy working with other people on a daily basis?
A. Yes – I am excellent at working with colleagues
B. I am able to work as part of a team
C. No – I prefer to go solo
Are you able to invest a large amount into a franchise?
A. Yes – I have or will borrow the resources for a higher priced franchise if necessary
B. I will invest some money, but I want a low risk project
C. No – I aim to invest the smallest amount possible
SUGGESTED FRANCHISE INDUSTRIES
See where your answers take you, and follow links to the profiles of corresponding companies based in the South African and UK markets.
Mostly As
Sport and fitness
SA and UK – if you have a love for sport, here is a chance to mix business and pleasure in what is a growing industry. The percentage of people with health club or gym membership has doubled over the last 20 years.Food SA and UK – this is the leading franchise industry to invest in, with options including fast food, health food, sweets, restaurants, cafés and much more.
Mostly Bs
Home services
SA and UK – the beauty of this franchise is that most of the time you will not even need to be one of the on-site workers. Usually the franchisee takes on the role of manager, running from home a business that provides services such as plumbing, cleaning or gardening and that often requires a lower amount of money to set up.Retail SA and UK – the title ‘retail’ covers such a wide range of products that you are bound to find one that appeals. Some sell from the high street; some are based purely on e-commerce; many are available through both.
Mostly Cs
Internet based
SA and UK – often requiring little more investment than a computer and a good internet connection, many of these businesses can be operated from home in your pyjamas and overheads are low. Quite a few are part-time, or at least have flexible hours.Part-time SA and UK – perhaps you only have enough free hours to work on a part-time basis, or you want a second income? With these part-time franchises, that second income can be extremely profitable.