If you’re dreaming about claiming complete control of your destiny, stepping up to the plate and running your own business, you’re not alone. Many professionals accumulate the experience, know-how, and skills needed to successfully create their own enterprises. And yet, so many hold themselves back from taking the plunge because they don’t know where to start.
In the current economic climate, it can seem even more daunting to consider going it alone. Yet the recession we’re facing is actually an exceptionally good reason to take that step. Service-based industries are seeing monthly growth in management-driven sectors such as care franchises, while food, beverage and accommodation service activities are declining. If your expertise lies in recruitment, business consulting, law, accounting, design, estate agency, training, or marketing, you are perfectly poised to take advantage of ‘white-collar franchises’, or ‘management franchising’.
The term ‘white collar’ was first coined for such ventures due to the need for workers in these industries to wear a white collared shirt and tie to work. While fashion (and gender dynamics!) have changed since the potential in white-collar franchises remains strong. They’re a chance for managers to become business owners in their own right. Management franchises also have some spectacular – and largely recession-proof! – benefits…
The high demand for white-collar
As service-based franchises, white-collar enterprises are uniquely positioned as a reasonably recession-proof industry. The global economy is always going to need the services they provide. The current economic downturn is peculiar in that it hasn’t affected all industries equally. Even during a crisis as severe as the coronavirus, certain areas of expertise are always needed.
Many are losing their jobs, and we are indeed facing what is forecast to become the worst global recession in living memory. With managers and middle managers being hit the hardest, there are many seasoned professionals currently contemplating business ownership as a means of combating the uncertainty of the financial crisis.
Even so, new ventures carry a high risk of failure, and as a result, opting for a white-collar franchise is a savvy choice for anyone with a proven record in management and experience of marketing, sales, or finance.
The benefits of management franchising
If you’re feeling the financial pinch and are ready to put your skills to work for you, rather than someone else for a change, there are many great benefits to investing in a white-collar franchise:
Greater chance of success
While franchises are easily overlooked due to generally higher costs compared to startups, there is a very good reason for that higher price tag; the chances of succeeding are far greater. When you have a proven business model and an established brand that is already successfully working for people just like you, you’re taking a lot of the guesswork and risk out of the equation.
You get the full kit and kaboodle when you invest in a franchise. Operating systems and trademarks, initial training, marketing materials, and the benefit of ongoing advice and support from people who are already making that exact business model work.
While the initial costs may be higher, the overall costs of management franchises tend to be lower, as they don’t generally require as many overheads. When you consider the need for large premises, lots of employees, and stock requirements for other business models. It’s easy to see the appeal of an owner-operator concept that can begin as a laptop, a phone, and your car, and scaling from there.
Your life, your way
Part of the appeal of having the chance to start a business with so few outlays is the ability to create your life on your own terms. Establishing a lifestyle and work/life balance that suits you, your family, and your goals for the future, has never been easier than with a franchise. You dictate exactly what happens, where the boundaries are, what the budget is, what work you’re happy to do, what your working hours are, and so much more.
Support from the franchisor is a key element to any franchise, but even more so with a white-collar franchise due to the nature of the business and services being offered. With a white-collar franchise, you have access to a team of professionally trained people offering real insight into best practice
Working with businesses
Another huge benefit of the white-collar model is that it’s business-to-business (B2B). This means you’re working with like-minded professionals and their teams, rather than struggling to connect with individuals from all walks of life. You already speak their language, you don’t need to learn how to communicate with them effectively.
Overall, if you’re looking for a new direction and a chance to be your own boss, white collar franchise opportunities UK are the way forward, even in the current economic climate. They offer a level of stability at a time of great uncertainty, as well as appealing flexibility, and a chance to take that leap while keeping the risk of falling to a minimum.