Beat the recession - franchise business model

Nick Strong

Throughtout this time of economic downturn many people are trying to consider how to beat the recession both in their personal lives and in business. Equifax, a UK organisation that looks after credit references, recently put out a survey that asked participants to indicate their expected income for 2009. Interestingly over 35% stated that they believed their income would fall during 2009. This is not without good reason. People in manufacturing did not expect to get overtime and other participants feared that their company would fail.

Options to consider

Some may decide to bide their time and trust that their jobs will be safe, others are taking their own intiative via researching self employment through franchise business development.

Indeed the UK econmic outlook is down but that is not across all business sectors. Many businesses are advancing during the downturn. These successful concepts offer important and much needed services better and more cost effectively than the competition. Value for money combined with quality are the driving factors now more than ever before.

Making the best choices with a recession beating franchise

As the UK sees sales growth the recession will gradually start to ease. Over recent years franchise growth has been over five times greater than that of the UK economy. This is a promising trend for all working in the franchise industry from the franchisor themselves right through to the end customer. So what do you look for when researching a franchise system?

* Taking on a franchise is a long term investment. Fads never work in long term business development.
* What services are in demand now, during the recession?
* Research the brands and see which ones are growing both historically and at present during the current downturn?

Identifying these points helps you, the franchise buyer to determine what franchise to work with. It is easy to research which franchise systems are productive during the current downturn. Make contact with your chosen franchisor, arrange to meet the franchisor and then speak to their franchisees.

The franchisees will tell you how they have performed historically and during the recession. They will also tell you how innovative the franchise brand owner has been in supporting them effectively though the current economic downturn. Seek out the franchise systems that have and are still growing and focus your attention on those for your future.

Beating the downturn is about an increase in sales, job creation and ultimately confidence. Franchise business is strong as it is built on proven best practise, brand, service and recognition. Over 90% of franchisees trade profitably according to the Nat West/British Franchise Association National Franchise survey.

If you are looking for a way to beat the recession and take hold of your own future via the proven franchise business model then now could be the perfect time to do it.