If you’re still wondering if you should choose to start a franchise rather than starting up a new business from scratch, there are some significant statistics to help you make up your mind.
Michael Gerber reveals in his bestselling book The E‑myth Revisited that 80 per cent of non-franchise businesses fail in the first five years, whereas 75 per cent of franchise businesses succeed. In the UK the stats are even more chalk and cheese with 91 per cent of all businesses failing inside ten years, according to VAT deregistration statistics. Now compare that to the NatWest British Franchise Association 2016 Annual Survey of the UK’s franchising industry which reports 97 per cent of franchises are profitable.1
IF YOU WANT TO BE THE BEST, JOIN THE BEST
Back to the UK’s best mid-priced franchise which has worked brilliantly for more than 100 UK-based franchise partners. For the last three years straight, the Best Mid-Priced Franchise at the RBS Annual Best Franchise Awards has been awarded to the same team, a business growth franchise called ActionCOACH. That’s not their only recent accolade as they also hold the number one spot for Business Services Franchises in Franchise Direct’s Top 100 Global Franchises and Compare the Financial Markets rates their offer as the best business opportunity in the UK out of all opportunities, not just franchising.
IS THERE A MARKET FOR BUSINESS GROWTH COACHING?
Can you show me a business owner who doesn’t want to make more profit? Interestingly, when ActionCOACH asked their clients in a recent survey, profit only came out as the number-two most popular reason why a business owner hires an ActionCOACH business growth specialist. The number-one reason was they want to work fewer hours so they can enjoy more quality time with their family and have a life outside their business. Of course, helping your business-owner client to make more money also makes it easier for them to pay for skilled people to do the work for them.
ActionCOACH shares more than 3,500 strategies and tactics to help businesses grow, and franchise partners can use these too. For most coaches, a handful of one-hour-a-week mentoring clients equates to a profitable business. Franchise partner Jeff Shrimpton says: “The UK franchise support team are creative and inspirational. I use the structures and processes they’ve created to support us all. In fact, they fund new franchise partners to have one-to-one coaching from a master coach until you reach a good level of client income.”
CREATING A MORE FULFILLING LIFE
Just like their clients, ActionCOACH franchise partners’ number-one driver isn’t to make lots of money, but to create better lives for their clients, teams, families and the local community.
Tim Jeffs is an ActionCOACH client and grew his business WacNet from £700,000 to £1.4 million. He says: “I never went on holiday or did anything for me, because I was always spinning too many plates. Since I’ve been with ActionCOACH, I’ve been able to take time out to climb mountains. I’ve learnt to sail round Greek islands and gone mountain biking with my children. Life is brilliant. I can go away now without the phone going constantly and knowing I’m not going to come back to a complete mess.”
Joanna Martorana started her ActionCOACH franchise in July 2015 having left her job in banking. “My work-life balance changed overnight,” she says. “I can now take my kids to school and pick them up because I choose to work nine to three, Monday to Friday. I hit my goal of £10,000 client income in month five and how great a feeling it is to know that my clients are already benefiting way more.”
If you would like to learn more about becoming a business growth specialist then find out more by watching the six-minute overview video at actioncoach.co.uk
1http://www.thebfa.org/about-franchising/franchising-industry-research
