Franchising can be an ideal career for veterans wanting to avoid the normal ‘9-5’. Ed Ross, a former Army officer who went into franchising to escape the ‘job hamster wheel’, shared with us his insights on working in this industry.
What is franchising?
A franchise gives the franchisee (you) to start your business by legally using someone else’s (the franchisor’s) expertise, ideas, and processes. Famous franchise companies include McDonalds, Europcar and Subway. Initial training is given, and many franchises provide ongoing support and mentoring. More than 621,000 people are employed in the industry, and it contributes £15 billion to the UK economy.
Why are officers suited to franchising?
A successful franchise depends on a clear structure, with tight systems and processes – ideas that are integral to military life. Veterans also have many key skills and experiences required in franchising, such as:
- Contingency planning
- Effective communication and networking
- Strong work ethic to overcome challenges.
Less than 4% of franchisees fail for commercial reasons each year, making it less risky than starting your own business. It offers a quick start up and route to market opportunities, and the franchise may already have an established customer base to build on.
The franchise model gives you flexibility, working when and where you want. You can be based at home and plan your schedule around parenting responsibilities. You can largely define your role, so you can go against the norm and do what YOU think is right, making it a fairly independent job.