HELEN Blower suffered from the usual cold feet when she opened the doors of her new bridalwear business last summer. Would she get the customers? And would her start-up be a success?But she wasn’t alone in the early anxious days. Helen had decided to invest in a franchise and had put £60,000 of her life savings into an outlet from Pronuptia, one of the world’s biggest bridalwear retailers.
Helen, 32, had raised another £60,000 for the large retail premises in Reading with a loan from NatWest.
‘I saw a Pronuptia stand at a bridal fair and was struck by the quality of the products and the value for money they offered,’ says Helen, from Sunningdale, Berkshire. ‘Then I researched the company on the internet and met the chief executive.
‘He put me in touch with a number of existing franchisees and I spent time in their shops as part of my training. I wanted to run my own business, but liked the idea of having the support of the franchisor’s network. It was still a cold start, but it would have been much more difficult without the recognised name above the door.’
Helen had no retail experience before launching the store. She had been working for a lettings agency that was considering whether to become a franchise.
Franchising is an attractive option for those looking for a ready-made business opportunity. The franchisor has already established a brand and a business model. The franchisee then has to put money and effort behind their side of the operation to reap both financial and professional rewards.
But it is not quite that simple. Some of the best business opportunities carry a hefty price tag. And, like any young business, the early days involve long hours and little cash return while the operation finds its feet.
One of the most common arguments for franchising is that it carries a lower risk than setting up in business entirely on your own. Research by NatWest for the British Franchise Association (BFA) suggests that almost nine out of ten franchise businesses succeed.
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