One of the worst parts of any downturn has to be the numbers of companies that don’t survive. In a market such as the one the world has experienced over the last twelve months a number of factors have affected the ability of organisation to continue to do business.

Firstly and most visible, the drop in consumer spending, which has resulted in increased competition in the marketplace. Only the most efficient firms carry on in this environment.

Secondly the lack of access to funds and investment. When firms experience cash flow or revenue trouble then they rely on the Banks to offer funds to get them through. As we all are aware those funds have not been available.

The net effect of these factors is that businesses are failing. When businesses fail they leave holes~space~gaps} in the market; requests~demand} for a product or service has not necessarily lowered just because a firm providing it has ceased trading. To start new organisation in a recession purely re-providing a product or service requires funds or access to funds. If a new start up is funded by the owners then there is intrinsic personal risk in the possible failure of that firm, and as we have already seen assistance from the banks is unlikely to be immenent.

The other way of breaking into a market sector is through the acquisition of a Franchise Opportunity. Where there is a franchise for sale, there is the opportunity to get into business with not as much risk.

Even where there is a Franchise for Sale there is some risk as the success of the firm will rely on the skills of the Franchise operator. That said the investment is preset and obvious and the market opportunities should be transparent as the owners should be able to show success in that particular market place.

 

 Of course while franchises do offer a comparatively~moderately~quite~rather~relatively} low risk entry they do have some issues which need to be considered, including a thorough assessment of the Franchise for Sale and of the figures put forward by the seller. Also, for a free spirited entrepreneur the opportunity may be a little restricted. A franchisor will expect the brand and product or service to be upheld, with very little room for self- expression.

There is also the issue of competition to be taken into account within the Franchise itself, if it is a national company for example exacting boundaries will need to be enforced. All that said the Franchise Opportunity does offer a low risk, soft start in managing your own business.

 

When recently reviewing the possibility of a franchise for sale I found, after some initial research that the bulk of franchises for sale are in the service industry. Many, for example are in fast food, from chip shop and burger takeaways to Chinese and Thai offerings, all ready to be picked up off the shelfsnapped up. Others still within the service area are opportunities in lawn treatment, plumbing, and cleaning services.

What is also common to the majority of these Franchise opportunities is that their appeal is huge. Apart from the plumbing idea, most of the others can be carried out by a vast amount of people with different working backgrounds and they need very few detailed skills in order to succeed. The specific skills that are necessary are usually covered in the training given by the franchisor and so a person with no catering background at all could find themselves with a well run Thai take away by keeping to a system and instructions and by undertaking a relatively small  amount of training. Obviously an interest in the sort of franchise is important, as a lot of effort is essential from the franchisee in order to make the organisation a success. A large amount of dedication from the franchisee is required too, so it is crucial that you are in a role you get pleasure from . And, if all these are apparent, the chances of a profitable business for the individual and franchisor are high.

Franchises offer the franchisee the chance to get into business using a tried and tested business structure. As many of the opportunities are in service industries they are much more likely to appeal to many different kinds of individuals as they can see themselves in the situation without too much hard work or effort. As the business model is a replica of an already profitable company the individual can give attention to the new role without having to be worried about the paperwork, accounting or the marketing as this should all be taken care of. Instead they can become comfortable with their new service position and develop any new skills required.

So these opportunities give a real possibility for many people, whatever their work experience. However as they are so simple to step into, needing only the minimum amount of training that can speedily be provided, they also represent the most overpopulated sectors. Most people opt for the easiest path and these roles are certainly that.

For a little less competition both in terms of other franchisees and other franchisors selling a similar deal, it may be better to opt for a Franchise Opportunity that has a substantial amount of training at the beginning, say for example the one mentioned earlier, a plumber. Clearly there is a significant amount of training to go through but, once done you will definitely be in a much more exclusive position. A decent quantity of dedication is needed to go through the practice but with the Franchise for sale at the end of it at least the individual knows that there will be less competition for him and that, as with the more all-purpose franchises, the ideal business model will support him.

Franchises are selling rather well in this climate but there is of course the threat of saturation, reviewing some of the more challenging ones might just be the answer.

Entry level finance jobs can be easy to come by if you know where and how to look. You are likely fresh out of college, and you are looking for a job in an first level finance position. A common question many fresh graduates have is “How long would it take you to find a job, considering there are so many other people out there looking for the same job that I am looking for?”

Now, it isn’t as hard to seek a job as it used to be, despite what the economy is experiencing. (more…)