Franchise owner Franchisee
Franchise owners are self-employed people who've bought a licence to operate under an established company's brand.
1. Entry requirements
You don't need formal qualifications to run most franchises, but you may find it helpful if you have some business skills in areas like:
- people management
- basic accounting
You’ll need access to money to buy the franchise and pay ongoing agreement fees.
Business is Great has information about setting up and running a business.
2. Skills required
- business skills like record keeping and budgeting
- marketing and selling skills
- excellent organisational skills
- customer service skills
3. What you'll do
Many types of business are run as franchises, like:
- convenience stores
- food take-aways
- professional cleaning services
- parcel delivery
- estate agents
- recruitment agencies
You’ll have to operate the business according to rules set down by the franchise owner. If it's a new site, you'll have to find and pay for suitable business premises.
Your day-to-day tasks may include:
- complying with instructions on branding, signs, logos and colour schemes
- operating to set standards and legal regulations, for example food safety
- ordering stock or resources
- attracting customers and building up sales
- keeping accurate records
- training and supervising employees
- complying with health and safety regulations
Your profits will depend on the type and size of the franchise, and how successful you are at running it.
5. Working hours, patterns and environment
Your hours will depend on the type of franchise you run, but you’re likely to need to work long hours to make your business succeed.
Your working environment will also vary according to the type of franchise. You could be running a high street shop, travelling to customers or working from home.
6. Career path and progression
Once your business becomes established you may want to open more franchised outlets. This would allow you to hand over day-to-day operations to staff, so you can concentrate on managing the growth of your chain.
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Last updated: 25 October 2017