If you have a head for business then this could be the opportunity for you. There are so many different types of business advice franchises that there is something for everyone regardless of their experience or investment capital sum. If you like helping people and are able to speak to people of all backgrounds then this could be a good option for you. This is a growing industry which is only due to expand further given the increasing complexity of the regulations on small businesses in the UK.
The Different Types of Business Advice Franchises
Leadership coaching Franchises
As a result of the increasing popularity of mindfulness and self-help books, leadership coaching is booming. You will be helping businesses to set goals and work out how they can reach them. Anyone who considers themselves a people person may find this type of franchise particularly attractive because of the opportunities you will have to work with all sorts of different people. You could also develop a client base of regulars who will come back to you as their business continues to grow. Your primary focus as a leadership coaching business will be working with individual managers and company executives to help them to lead their staff, and therefore their company, into a strong future. Depending on the profile of the businesses you wish to attract, the investment capital you will require to set up can be modest.
Business Coaching Franchises
As with leadership coaching, depending on the sort of business you wish to attract, the investment capital you will require to set up will vary. You will be working with everyone in the business in this sector, not just the people at the top, so you will need to be able to speak to people from all walks of life. You will need to be motivating, driven and friendly, and ideally you will have relevant work experience to support your coaching methods. You will help businesses to grow by agreeing a plan with management and then implementing it amongst all the staff members.
Fix-it and Troubleshooting Business Franchises
You will be focused on selling your experience to help other businesses overcome any obstacles. As with the other business coaching/leadership coaching opportunities, you will need to be able to work with a wide variety of people. Again, the start-up fees vary depending on the profiles of the businesses you wish to attract, but the initial investment capital can be minimal.
Transition Planning Franchises
This is an emerging opportunity where you could carve out your niche in the market and become an authority in transition planning. Essentially, you will be working with people on the verge of retirement who need to assess their financial situation. The baby boomer generation are renowned for their business success and whilst this was brilliant for them during their careers, as they approach retirement and wish to sell their businesses or get finance from the bank to help their children take over the business, the situation becomes more complex. You will help them negotiate their transition to retirement. This can lead to a significant client base as providing good customer service and reliable advice to one customer will invariably lead them to recommend you to their peers. Again, the start-up costs vary depending on the profile of the clientele you wish to attract, however the initial investment capital is usually modest.
Cost Management Franchises
If you have a head for numbers, then this could be the opportunity for you. The recession led numerous businesses to the brink of collapse, so helping businesses to manage their costs is more important than ever. You will need to be able to understand complex cost management advice and give reliable business advice. You will also need to be prepared to work with customers who feel disillusioned and depressed. The initial start-up investment sum is low as you will need little to set up in business. You can develop a strong client base of regulars quickly if you build up a reputation for providing reliable and accurate advice.
This is one of the oldest business advisory franchises around. Accounting and tax can lead you to deal with a wide range of businesses which will make for an exciting and varied career. As tax and accounting regulations become more complex, more and more businesses are turning to advisory services to help them. If you are an accountant, or are prepared to employ accountants, then this could be the opportunity for you, as you can quickly develop a large client base. Taxing and accounts are a largely seasonal business, so you will be pushed to the max one half of the year to keep up with all of your clients, whereas you may experience a reduced workflow in quieter months so you need to allow for this variation when it comes to your income.
The Benefits of Owning a Business Advice Franchise
The main benefits are that you will be working with a varied and diverse number of people and businesses and the start up costs range from next to nothing to £75,000. You can also work from home, keeping your overheads low and setting your hours around your family. In addition, you will see directly the benefits of your hard work, as it will only be you who reaps the benefits of putting in extra hours. All of these opportunities can lead to having a strong client base who will come back to you year after year.