Well – I must say I did not expect what happened to me this past week!
If you have been reading my blog for any length of time, you know I tend to pick my subjects for each post fairly independently and they often just outright fall into my lap. This week, however, my choice came about a little differently –someone actually specifically requested it! 20
That's right – I got my first reader request. Although, not exactly because I know this person in real life (he works with my nephew and has been round for tea a few times). But he did tell me he reads the blog and would definitely like to read an article about the particular topic he requested. So, since I know you're reading this: hi Kieran, here's what you asked for.
Let's Talk About Franchising
So, Kieran wanted to know how people who work doing courier jobs could go about expanding their business and buying into a franchise. I thought it was a rather ambitious idea for a young man (which is a good thing, mind you) so immediately set about doing research so I could help him succeed. My findings are below!
What is a Franchise?
Before I start talking about franchises, it's important to explain what they are. Basically, a franchise is a series of shops or establishments that are all independently run, but all answer to the same, central head office. McDonald's, for example, is a franchise – it has restaurants all over the world, but they all look, feel and are run in a very similar way. The 'McDonald's way', if you will.
In the case of courier driving, a franchise would imply independent drivers running courier jobs for a larger company, in specific areas, but without a central depot to return to. Basically, they would still be owner-drivers, but they would not quite be their own boss; their boss would be their regional leader from the franchise – in Kieran's case, hopefully, himself one day!
How Much Will It Cost? Will It Be Worth It?
But of course, you're not so much interested in what a franchise IS – you want to know how much you can make from one, don't you? Well, before you start seeing pound signs everywhere, bear in mind that a single-person franchise in the field of courier jobs can cost a minimum of £6,000, and up to £20,000. Aside from that, you'll also have to employ (and pay!) other people, as well as work your own hours, just like before. And according to my research, you won't suddenly go nine-to-five, either – you'll probably have to work long hours in order to market yourself and continue getting the jobs. Yes, the money is there, but you can't assume it will be easy to get to it. If you make those kinds of assumptions your franchise will fail in less time than it took to set up. (And that's not me saying that – it's the experts.)
But, if it's set up well and you're prepared to work hard and be patient, a franchise can be a very good idea, indeed. So Kieran – and any of you thinking of expanding your business like this – all I have to say is if you think you can do it, go for it!
As for me, though, the only place I'm going is to bed! See you all next month!