ISSN 1744-6988 04 EXPERT 9 771744 698037 ADVICE * Brand profi les * Interviews * Industry trends What Franchise * Franchise directory £3.99 VOLUME 14 ISSUE 4 www.what-franchise.com* FINANCIAL FOCUS PERFECT Keeping accurate FIT accounting records is The transition from easier than you think HM Forces to franchisee Smart Route to Business MULTI-UNIT OWNERSHIP FRANCHISING The documents and The pros and cons of processes would-be expanding your business franchisees need to be aware of Getting the LATER LIFE DEAL DONE ENTREPRENEURS The mechanics of Life is far from over selling your franchise once you hit 50 Stelios Haji-Ioannou The entrepreneur making franchise success easy PAGE REDUNDANCY PAGE BEFORE PAGE KEYS TO 14 VICTIM? 6 YOU INVEST 26 SUCCESS What a franchise could The questions to ask your Top tips for aspiring o er you prospective franchisor franchisees WHAT FRANCHISE 14_4_WHAT FRANCHISE 07/09/2018 17:01 Page 2 2019... A Gap in the market for a national We are moving rapidly into franchise premium craft bakery with multiple store openings in 2019 and a significant new store A proven concept that has been pipeline in the next 5 years established for 150 years, with over 70 stores in varied formats across We have the infrastructure multiple counties and several industry and turnkey model to act fast WHAT FRANCHISE 14_4_WHAT FRANCHISE 07/09/2018 16:20 Page 3 WHAT FRANCHISE 14_4_WHAT FRANCHISE 07/09/2018 16:14 Page 4 What Welcome... Franchise In this issue, we showcase how buying a franchise can help victims of redundancy, ex-forces personnel and the over-50s become their own bosses. [ CONTENTS ] Many established franchisors are proud to report that their franchisee networks are made up of people COVER STORIES 38 REPLICATING SUCCESS from different walks of like. Visiting Angels is seeking driven Some have previous industry experience, some have 6 BEFORE YOU INVEST people who can deliver a positive been customers of the brand, while others have The questions to ask your change embarked on a radical change of career that involves franchisor 40 DRIVE THE WORKSPACE entering a sector they had no prior association with. REVOLUTION Today, the majority are running their own 8 PERFECT FIT The transition from HM Forces to Partner with Regus and get the successful businesses by following the tried and tested franchisee backing of an established global systems and training programmes devised by their brand franchisors. 12 MULTI-UNIT FRANCHISING 44 EXCELLENT OPPORTUNITY And when the time is right, franchisees can sell The pros and cons of expanding The Kleaning Company is offering 21 your business their businesses as a going concern at a profit - exclusive UK franchise territories another subject covered this month. Franchising has many benefits. Assisting a diverse 14 REDUNDANCY VICTIM? 46 MULTI-VAN OPPORTUNITY What a franchise could offer you range of individuals into self-employment and Revive! is looking for ambitious allowing them to build a saleable asset are just two of candidates with a track record of 16 SMART ROUTE TO BUSINESS success them. OWNERSHIP The documents and processes 48 QUALITY OVER QUANTITY Jeff James would-be franchisees need to be How Platinum Property Partners aims Editor aware of for 100 per cent success 18 GETTING THE DEAL DONE 52 INSPIRING CHILDREN What The mechanics of selling your Boogie Beat offers a multi-award DESIGN winning music and movement Franchise ART DIRECTOR franchise franchise www.what-franchise.com Lee Whiteford twitter: @whatfranchise [email protected] 25 FINANCIAL FOCUS DESIGNERS Keeping accurate accounting 56 INNOVATIVE AND INSPIRING The Kiddleydivey franchise means EDITORIAL Steve Streeting, Lee Francis, records is easier than you think EDITOR Hayley Underwood, Ben Kemp more children and adults can benefit Jeff James & Sarah Hilder 26 KEYS TO SUCCESS from its music sessions ASSISTANT EDITORS DESIGN, TYPESETTING Top tips for aspiring franchisees Catherine Eade, Louise Ramsay & REPROGRAPHIC 62 FOLLOWING A GUT FEEL MS Typesetting & Design, Predicting the collapse of Carillion, ADVERTISING 21-23 Phoenix Court, Hawkins 34 STELIOS HAJI-IOANNOU ADVERTISEMENT DIRECTOR Road, Colchester, Essex CO2 8JY. The entrepreneur making franchise graduate Luke Kay chose a franchise over a corporate career Mark Forsyth PRINTED IN ENGLAND success easy GROUP ADVERTISEMENT MANAGER NEWSTRADE SALES 65 ALL THE RIGHT INGREDIENTS Marketforce. Tel: 0203 1483300 Richard Davies Tel: 01323 471291 ADVICE Will Bray is the latest in a growing E-mail: [email protected] NEXT ISSUE ON SALE number of millennials to join Subway ASSISTANT ADVERTISEMENT September 28 AND INSIGHT MANAGER © Aceville Publications Ltd Neil Phillips Tel: 01323 471291 No part of this publication may be 10 BEFORE YOU SIGN ON THE 70 LEADER OF THE PACK E-mail: [email protected] copied, broadcast, interpreted, or After three years in business, stored, in any form, for any purpose, DOTTED LINE ACCOUNT EXECUTIVES without the written permission of Heed this advice from Richard Expense Reduction Analysts Craig Bartlett the publisher. Holden, head of franchising at franchisee Keith McGregor is & Tom Hepton Every effort is made to ensure the Lloyds Banking Group breaking records CIRCULATION MANAGER veracity and integrity of the companies, Mick Orrin Tel: 01206 505912 persons, products and services mentioned in this publication, and 72 DIRECT APPROACH SUBSCRIPTIONS details given are believed accurate at FRANCHISE Do something different and invest in Tel: 01795 414667 the time of going to press. However, a Leaflet Delivery UK franchise no responsibility or liability whatsoever OPPORTUNITIES PUBLISHER can be accepted for any consequence Matthew Tudor or repercussion of responding to any information or advice given or inferred. 30 REPUTATION FOR EXCELLENCE From the publisher of: INSIDER GROUP EDITOR 10 EXPERT EasyFlow delivers the means to ADVICE INFO Brand profi les * * Choose your Model 1366-2295 * UK-based start-ups Which one will work Industry news for you? Making 771366 229039 * Global ISSN Ted Rowe 9 Business plans * I.P. Piracy * How to protect your brand overseas Money £3.25 OCTOBER 18 Franchise build a thriving business www.globalfranchisemagazine.com * Happy Meals? * www.startupbusinessuk.net Dealing with ABC certified circulation: Joint Employer TALENT MASTER, REGIONAL AND INTERNATIONAL FRANCHISING THE BUSINESS START-UP MAGAZINE SPOTTING What franchisors are 03 MUST-GO SHOWS MUST SEE EXPOS looking for CREDIT CONTROL MAGAZINE THE BUSINESS START-UP ARE YOU A 13,300 January 1, 2017- 12 WAYS TO FAIL DUBAI GOOD BOSS? 84 PAGES OF ADVICE SINGAPORE Take this test and fi nd out & OPPORTUNITIES CHICAGO CUTTING EDGE CONCEPT WITH GLOBAL APPEAL Sue Carr Tel: 01206 505903 December 31, 2017. POWER 32 SETTING THE TONE FOLLOW ME RETAILING SECURE THAT How to grow your The technique to boost social media by 3,000 your bottom line in 3 months PERFECT PARTNER FIND YOURS RIGHT HERE IF THEY ZIG, Ben Ashton of Good Oaks ZORS & ZEES WE ZAG How to rock Published by Aceville Publications Ltd Success is down that relationship to the di erence SUPPLIER FORUM discusses the importance of TRANSFORMING EXPANDING NOW Pacific House, Innovation Business Park, TOP BRANDS HUNTING THE INDUSTRY GREAT MASTERS Shuttercraft’s new breed of franchisees OCTOBER Eastbourne BN23 6FA. Printed in England © Aceville Publications Ltd PAGE PAGE PAGE company values PAGE BEST OF BOTH PAGE WORST BUSINESS PAGE EMAIL CORDELL JASON KEN 30 WORLDS 22 MOMENTS 20 MARKETING 80 RILEY 15 KEALEY 34 PHIPPS 2018 The working for yourself and The entrepreneurs who ‘admit it It can be cost-e ective if How to successfully Why software can be Find out if you are ready to working from home balance and fi x it’ on the road to success you target your customers onboard new franchisees your new best friend take on a fitness business what franchise 5 ADVICE DUE DILIGENCE These are the questions to ask a franchisor before you invest, Suzie McCafferty, managing director of Platinum Wave, says e’ve helped to sell a few questions beyond: “What’s the If you fall into this category and lot of franchises over average monthly net profit?” are currently assessing franchise the years from many opportunities, then here are some different business COLD AND CALCULATING questions you will want your sectors.W Some of the questions we’ve An experienced multi-unit operator prospective franchisor to answer. been asked by prospective franchisees, will decide quite quickly if they think Many of them will be addressed however, have stuck in the mind for the the brand is offering something exciting in the marketing literature you’ll wrong reasons: that the public will like and then they have been sent prior to speaking “If I don’t like it after the first couple will drill into the figures to see if it’s to or meeting with the franchise of months, I’m just going to sell it to my worth their while - it’s rarely a long recruitment team. But you’ll want mate. That’s okay, right?” decision making process. to expand on those answers until “I’m very interested, but I need to That may seem quite cold and you’re satisfied with the answers and know if you’ll change the logo from calculating to some, but these investors explanations given. green to red? I really like red.” aren’t buying into a dream of being The following list of questions is “I’ve got the money to buy it, so I their own boss - they’ve already done by no means exhaustive, but it should don’t see why the franchisor needs that and know franchising works for help you in the first meeting to references?” them. establish a feel for the company and We’ve had plenty of sensible For the most part, however, the people you’ll be dealing with.