Was your role one of the 695,000 that was made redundant post Covid-19?

According to a piece written by the Guardian, redundancies rise at the fastest rate since 2009. This has meant that almost a half of those on furlough will not be returning to their previous job.

Receiving notice of redundancy can be a difficult time, particularly in these uncertain times where secure jobs can be hard to come by, and when you find them, are snapped up quickly by the best candidates.

What choices do you have?

Hopefully your redundancy package can give you a little breathing space to truly consider your options. You do spend a lot of time at work, so it’s important that you find the right role and company to work for.

If you have decided that working for someone isn’t what you want to do, why not consider going in to business for yourself?

Working for yourself 

You can throw your redundancy package in to your new business venture and hope for the best. Or you can invest it, in a franchise opportunity.

Franchising is a safer route in to business because the business model is proven, brand is established, and support is on hand for when you need it.

You still get all of the great benefits that you do working for yourself, just that you aren’t by yourself and have all of the great benefits of being part of something bigger.

Financing your new start

If you either you didn’t receive much of a redundancy package, none at all or have spent it, there are still options that you can consider so that you don’t have to go back in to employment.

The UK Government have a start-up loan scheme where you could be eligible to finance funds of up to £25,000.

Also, as a British Franchise Association associate member, most major banks and finance providers will lend (subject to personal status), up to 70% of the total franchise fee.

If you’d like to discuss your options following redundancy, give our franchise sales team a call on 0116 275 9005.

Like many others, you may find yourself questioning whether now is the right time to start a business. This is perfectly understandable given the current climate and the uncertainty in the air.

What do the statistics say?

Year to date, we have seen a 70% increase in enquiries from prospective business owners looking to join our franchise opportunities compared to 2019. Interestingly, the increase began just as we entered in to national lockdown. This poses the thought that many individuals were evaluating their options.

What are the common reasons for joining?

At ServiceMaster brands, we have welcomed several new franchise owners over the last nine months and the reasons for joining our franchise brands vary. One thing in common is that entrepreneurs are looking to be in business for themselves, but not by themselves.

Increased financial support

The recent situation has seen a rise in financial aid from the government and the government back start up loan scheme is proving to be popular. Decisions are made and paid out within eight weeks meaning that starting a business could be just around the corner and is much quicker than saving up before purchasing.

Security

Franchising is one of the safest routes in to business because the brand is already established, the business model is proven and support is on hand all of the way through the journey. As such, the risk is much lower in joining a franchise, whenever you may choose to join.

Although there have been many changes and surprises throughout this year, one thing that has remained constant is our level of support to both existing and prospective business owners. Our franchise recruitment department has remained open to those exploring going in to business for themselves and not by themselves, with virtual training academies for those who wish to proceed.

If you would like to discuss our ServiceMaster Restore franchise opportunity, speak to a member of our franchise recruitment team on 0116 275 9005.

Could you be eligible for up to £25,000 Finance?

So you have decided that a ServiceMaster Restore franchise is right for you, but have concerns around raising the funding.

Did you know that the government offer a Start Up Loan Scheme?

You could be eligible to receive funding from £500 to £25,000 to start up or build up your business.

Key Facts

  • You need to live in the UK, be 18 or over and have (or a plan to start) a UK-based business that’s been fully trading for less than 24 months
  • Start Up Loans are government-backed and charge a fixed interest rate of 6% per year
  • You can repay the loan over a period of 1 to 5 years. There’s no application fee and no early repayment fee
  • You’ll get free support and guidance to help write your business plan, and successful applicants get up to 12 months of free mentoring

It’s a simple 3-step process to apply

  1. Register & Eligibility

You’ll need to register and complete the initial eligibility checks

  1. Application Forms

Further information, credit checks and business plans will be needed

  1. Finalise Business Documents

Business Advisor will work with you on your final documents before submitting for decision

If approved, you will be sent your personal Loan Agreement online and be invited to take-up 12-months of Post Loan Support.

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Once you have checked your eligibility and available loan amount, it would be a good idea to ensure that your territory is still available and that we have space on the most suitable training academy.

We can also help you with your business plan once securing your territory with a small deposit. Contact the Franchise Sales team on 0116 275 9005 to find out more.