Yes, we did take a bit of a break. Our union, eNUFE – The National Union for the Entitled (eCommerce branch) said that under the ‘We’re Croked’ Park Agreement we were entitled to take a break, that in fact we were obligated to take what we were due. So with holidays, sick days, carry over days and days in lieu we ended up with almost 6 months of leave. We took 2 weeks with the rest being paid as an addition to our pensions.
We’re back with a big dose of positivity. One of the great success stories of the SME sector is franchising. The Irish Franchise Expo take takes place next Friday/Saturday (27th and28th) in the RDS, Dublin. Get free entry registration to the Franchise Expo here.
Can you franchise courage?
We’re undoubtedly operating in a challenging environment – Business Information Provider Vision-net reported that 1,930 businesses in Ireland closed their doors during 2011.
But Vision-net statistics also tell us a story of entrepreneurship – 14,654 new firms were incorporated and 26, 605 business names were registered in 2011. And this story continues in 2012 – last week alone saw 212 new companies & 591 new business names registered.
We cannot dismiss the scale of business closures, but we should remember that SMEs remain the vibrant and determined backbone of employment. So in 2012 the SME landscape is a story of the courage — and perhaps trepidation — of small business owners — a landscape where Franchising can play a bigger part.
Some would-be business-owners may not see themselves as entrepreneurs — they may be more comfortable setting up businesses in association with established brands, which offer proof that others have already built profitable businesses using their well-proven business models — franchising can offer these potential business owners a logical route to business ownership.
The act of buying a franchise license is not, of itself, a guarantee of success — there are essential elements to a successful franchise business:
- A well proven business model, run by an experienced management team, which has already proven franchisees can set up in new locations and build profitable businesses.
- A franchise support model which includes training, mentoring and supports to help a franchisee get started and become successful.
- Franchise Documentation – A Legal Franchise Agreement, developed by a reputable franchise lawyer, and a documented Operations “manual”
- A prospective franchisee who is prepared to work long hours, and follow the model that has shown itself to work.
- A clearly identifiable market for the product or service the business offers, at prices that generate a high enough profit margin to meet franchisor and franchisee expectations.
- And a bit of luck. But you can reduce the “luck” factor by doing your research and “sense-checking” the concept you intend to buy into. You do need to take independent legal and financial advice, before committing yourself to your investment in a franchise.
Small Business Can jamboree
Smallbusinesscan will be at the RDS between 12 and 2 each day running workshops. Drop in and contribute your experiences around strategy, storytelling, innovation and social media.
Wonder if we should talk to our union about getting paid triple time for working through lunch…and on a Saturday?