The Franchisee's Perspective

Alan J Gibson, QFP, FCMI, is an experienced franchise consultant. He will be providing us with articles for the next few months, and in this one he takes a new approach to categorising potential franchisees into five different types, asking if they're suited for the task of setting up a franchise.

With less than a month to go to the halfway point of 2014, this is an ideal time to take stock of the year and your aspirations to set up your own business. Read the article that summarises perfectly how franchising provides the right candidates with proven systems, tools, training and support to help them combat the main reasons for business failure.

Starting and operating a new franchise is a challenge, and it takes certain material supplies to succeed.

For many, retirement is a daunting life stage to go through. Whilst some retirees cannot wait to enjoy the comforts of living according to their own rules and time, others become easily frustrated as their ambition didn't retire with them. This is when they can become a franchisee.

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The difficulty in finding a job makes the idea of self-employment – and being a franchisee – suddenly much more appealing to young people.

With well over 3,000 attendees, this year’s IFA convention was the largest yet, providing a vital forum for the exchange of ideas and information as well as a platform for the discussion of important issues relating to the franchising industry.

The Global Entrepreneurship Monitor (GEM) Report was released last week with some surprising results for Irish entrepreneurship.

Opening any new business can be fraught with unexpected expenses. Luckily, franchisees can relax in the knowledge of where their carefully invested money will be going.

For many franchisees the successful nature of their business depends on how the manage to plan for the future with the implementation of strategic business and financial plans. In order for the franchise business to be successful, it is important to concentrate on the daily activities of the business. Keep in mind the following points when you decide to invest in a franchise or business opportunity to ensure its long term success.