Tag Archive for: finance

Getting the most from a franchise.

Being part of a franchise is a choice, so every individual has their reasons for joining.

There are costs to joining a franchise, but the benefits far outweigh these.

Therefore, we recommend getting as much out of your franchise journey as possible.

At ServiceMaster Restore, we offer a plethora of support, so you can make the most of your franchisor relationship.

Support

The support you can receive as a franchisee in all stages of your journey is invaluable.

Initially, you may require hand-holding time whilst you find your feet.

In the middle, you could feel a little lost and need guidance to get back on track to move the needle forward.

Towards the end of your journey, you’ll likely seek to realise your investment and need assistance preparing your business for sale.

We’re here for all parts of your journey in whatever line of support that you need.

Our marketing professionals are on hand to help you sell the sizzle of your services; our operations team to get or keep your business in tip-top shape; and our IT, HR, and admin teams support the whole operation to function.

Training 

All of our new franchisees secure a place in our training academy.

You also benefit from ongoing training opportunities in marketing, sales, operations, and more.

It’s not compulsory, but much of our training is complimentary and designed for you to use.

Starter Pack and Return on Investment

At ServiceMaster Restore, you’ll make an initial investment of £79,000 + VAT.

We give you the tools to make the most of the multi-million-pound market opportunity.

The initial franchise fee is a combination of a Licence Fee (£64,00 + VAT) and the cost of our starter pack (£15,900 + VAT).

This includes equipment, supplies, exclusive ServiceMaster Restore products, marketing launch activities and materials.

Your investment gets you:

  • Full demographic report for the area with at least 600,000 households
  • Two-week training Academy and Operations Manual
  • Equipment and product start pack
  • Marketing and promotional materials
  • Vehicle branding package

And the opportunity to make some serious money.

Just three weekly jobs* will see you reach an annual turnover of over £200,000!

*Based on an average job value of £1400

Buy small and save big

As a small business, you may encounter poor economies of scale. Not as a franchisee!

We buy big so that you don’t have to.

Furthermore, we encourage our networks to tell us what they’d like to see in the warehouse so that we can buy it in bulk and pass the savings of doing so back to you.

Network Meetings 

You are never alone in a franchise.

Not only do you receive the support that you need from a world-renowned franchisor, but you also receive support from fellow like-minded business owners who have likely ‘been there and done that’.

You’ll have plenty of opportunities to meet with them regularly, and upon onboarding, you will be encouraged to contact your peers to establish relationships immediately.

Ideas Review Council 

We are passionate about ensuring our franchisees have a voice.

As such, we have a panel of franchisees who have been voted a seat by the franchise network to share feedback, issues, guidance, recommendations and praise back to us for action or notation.

Learn More

There’s so much to get from a world-renowned franchisor. Everything that we offer is to help you on your way to business success.

See what we can do for you today by calling 0116 275 9000 or email franchisesales@servicemaster.co.uk to find opportunities near you.

Turn the corner using a proven franchise business model. 

A franchise is the perfect route if you want to be in business for yourself but not by yourself.

They offer the benefit of an established brand, a proven business model and support in the areas where you need it.

There are almost 48,000 franchise businesses in the UK, and many brands to choose from.

But this much choice can be a little daunting. Analysis paralysis is real. It’s so easy to get caught in its safety net.

With that in mind, we’ve put together a few pointers to help set you on your way to breaking free from the 9-5.

Why are you looking at a franchise?

It’s important to know what your ‘why’ is. Why do you want to go into business?

Here are some common whys:

  • “I want to be my own boss.”
  • “I’ve noticed a gap in the market.”
  • “I can do it better than they do it.”
  • “I want a better lifestyle for my family.”
  • “I want to invest my redundancy/inheritance.”

Once you know why, it’s easier to find something suitable.

What are your options?

Your options are likely narrowed down by the available territory, cost, commitment, and credentials required to join.

Taking all of those into account, you’ll still find yourself with a lot of options. Choose the one most suited to your ‘why’.

Then, do your research.

Research  

Simply for ease, online research is the best place to start.

Methods of online franchise research:

  • Take a look at franchise directories
  • Read published franchise articles
  • Check associations like the BFA (British Franchise Association)
  • Visit franchisor websites
  • Follow social media channels for a broad and varied spectrum of opportunities.

For offline research, speak to franchisees and ask for advice from respected sources.

Where possible, utilise the franchise opportunities’ services for insight into the business.

Enquire & Engage

Once you have narrowed your search, enquire with the franchise brands that most suit your ‘why’.

Now is your opportunity to conduct more in-depth research and to form a relationship with the franchisor.

In franchising, relationships are the bread and butter. They make the world go around.

So, make sure it clicks. The business and the brand feel right for you to take advantage of the opportunity.

ServiceMaster Ltd. is committed to aiding your research, ensuring your decision to join us is right for you.

Contact Us

If running your own professional disaster restoration business, backed by 60 years of experience as an industry leader sounds like the opportunity for you, contact our friendly franchise sales team on 0116 275 9000 or email franchisesales@servicemaster.co.uk to find opportunities near you.

Anyone can buy a franchise.

The myth that you have to be cash rich to buy a franchise business is just that. A myth.

Entrepreneurs from all walks of life can buy a franchise through inheritance, redundancy, savings and, of course, finance.

Getting your ‘house’ in order

Obtaining finance is easier if you have a good credit history and have your business plan ready.

Your credit history is something that you nurture over time. It’s an opportunity to show the banks and lenders you are creditworthy.

I.e. you will pay them back what you owe them.

A good business plan is a detailed one.

It should include what the money borrowed from the bank will be used for and how you will pay it back.

Fortunately, lenders like franchise models because they tend to be proven.

As such, they are less of a risk to borrow against.

How much do you need?

It’s a good idea to consider the amount you’ll need to borrow.

Much is associated with franchise costs that aren’t included in the ‘start-up package’.

These typically include office equipment, vehicles, premises, registrations and insurance.

So, it’s vital to factor in these costs so that you ask for enough finance to cover all aspects of the business but to leave some ‘afloat’ for unexpected costs and cash flow.

What to ask your lender

Ask your lender about their credit terms, such as amount, duration, fees, rates, covenants and any payment holidays you might be eligible for.

Sources of funding

Most major banks, including Lloyds, Barclays, HSBC, and NatWest, to name just a few, support the financing of franchise businesses.

Some specialist lenders will also lend to those with a good credit history and a strong business plan.

Finance can open doors for individuals looking at franchise opportunities who don’t have the complete investment.

Speak to your high-street bank or a franchise finance lender for further information.