Franchise News – December 2024

The British economy has been rocked by all manner of challenges in the last few years, some of them political, others natural, or purely circumstantial. Now, as we exit 2024, we’re looking at a new set of obstacles, most especially the rise in employer NI contributions, which are set to hit a lot of businesses very hard. 

On the surface, it can seem like a pretty daunting landscape to open a new business. Launching a successful business in 2025 is still very possible, and there are still plenty of fantastic avenues for people like yourself to explore when it comes to fulfilling that particular ambition. Joining a franchise is one such avenue… as long as you choose the right one, that is!

Which is why it is more important than ever that you ask franchisors the right questions, not just about what they can offer you, but also how well equipped they are to deal with the future.

For example: 

How will you handle the changes in tax and employment law?

Does the franchisor have a plan in place? If they intend to raise prices, as most businesses will have to do, how will it affect their customer base? This is especially important in care, where it will depend on how much they rely on purely public sector contracts.

Do you have expertise and experience in dealing with complex changes?

Most franchisors will be experts in care, but are they also experts in the business of care? Make sure there is a team at the top with the range of skills needed to deal with anything that comes their way.

Is your business model flexible enough to adapt to change quickly?

How proactive is the franchisor in innovating new business plans? Do they rely on a rigid, niche offering, or do they appeal to a wider audience? 

What challenges have they faced before, and how have they overcome them?

One of the biggest advantages of joining a franchise compared to starting out on your own is that a good franchisor has already successfully dealt with all manner of obstacles and challenges, has learnt hard lessons along the way. Meaning they can help you avoid being caught out by what you don’t know.

Some pretty serious questions to ask, I realise, but this is exactly the kind of information you need to learn if the business opportunity you’re looking at is robust enough to not just survive, but thrive, under any circumstances. Even more importantly, can it help you do the same?

If you’re interested in talking about any of these questions, or would like to learn how a franchise like Acacia Homecare would answer them, then I am always happy to chat. I’m also more than happy to advise you on more important questions you should always ask any franchisor you talk to!