Category — Franchising

The announcement that NHS patients can now ‘top up’ their cancer treatment by buying cancer drugs privately is good news for franchisees of not-for-profit medical insurer WPA.

WPA franchisees provide private health insurance cover including policies designed specifically to help cover the cost of cancer drugs.

WPA’s Franchise Manager, Berkeley Harris, says: ‘There is a huge new audience for these products, among individuals, small and medium-sized enterprises (SMEs) and big corporates. It represents great potential for extra earnings.’

WPA has been central to the debate about topping up NHS cancer treatment and has had the products in place for some time, anticipating the recent announcement.

Its franchisees can offer a modular NHS ‘Health Top-Up’ policy which is aimed at customers who want to make the most of the NHS. As well as Wellness, Hospital, A&E Abroad, Cosmetic and Legal Advice, it includes up to £50,000 of licensed cancer drugs unavailable on the NHS and their administration in a private or an NHS setting.

Mr Harris says: ‘We are already seeing increased demand for these products, especially from the corporate market. Many companies are desperate to offer some form of health care to employees but feel that full-scale medical insurance is too costly.’

WPA is seeking another 15 franchisees to add to its existing network, to ensure that no customer is more than a few miles from one of its representatives.  Read more... (683 words, estimated 2:44 mins reading time)

One benefit of running a franchise is that once you have proved to yourself that the system works and that the support is good, it is relatively low-risk to scale up, by acquiring other franchises and applying the same business principles that forged your earlier success.

Gary Everett is a case in point. Having run the Martin & Co franchise in Colchester for five years, the opportunity to acquire the neighbouring Ipswich franchise arose. Initially Gary had been looking to acquire competitor portfolios, but when he heard that the franchise itself was available he jumped at the opportunity without question. With it came the prized portfolio of 50 managed properties, and a good office location.

”The Ipswich acquisition is a classic economy of scale for my business,” said Gary. We have a thriving letting business in Colchester employing 10 support staff who have absorbed the accounts and management functions of the Ipswich operation into their office. The system is robust enough to input any number of cases, so the Ipswich office itself is effectively a low-cost satellite branch. Employing just two people at the branch makes it a very low cost yet well-exposed operation offering great personal service to anyone who walks through the door.”  Read more... (607 words, estimated 2:26 mins reading time)

Every once in a while, every individual with any ‘get up and go’ decides that it might be time to get up and go – and leave whatever they feel is holding them back in life. A mundane job; the thought that you’re feathering someone else’s nest with your labour; or just the desire to be your own boss can all be strong motivators to consider starting your own business.

Franchising cuts out all of the ‘rock breaking’ involved in making the giant step from employment to being your own boss. Without the support of tried and trusted systems, backed up by the knowhow of many years of honing any successful franchise business model, any individual starting on their own not only has to face the hollow uncertainty and loneliness of going it alone but also the exceedingly steep learning curve of actually running a business, instead of being employed within one.

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Apart from the phenomenal success rate of franchise businesses compared with normal start-ups, being part of much larger team of franchisees as well as the franchisor themselves, means that you’re never left on your own wondering what to do next. You’ll have a constant resource available to discuss issues and opportunities with so that you can concentrate on generating a healthy business rather than agonising over matters that you can’t discuss with anyone.  Read more... (539 words, estimated 2:09 mins reading time)

Answering the phone, paying the bills, waiting on customers, ordering, attracting new customers, training staff, adding product, handling complaints. They’re all part of your day. All are part of working ‘in’ your business. It’s time for you to start working ‘on’ your business. What are we talking about?

You sell products and/or a service and you readily recognize these as the merchandise of your trade. But did you ever consider that your business itself is a product too! When you ultimately decide to sell for retirement, or to pursue other interests, such as converting your hobby into a money making venture, your business is the ‘product’ you sell to the new owner. Is this product ready?

Consider the vast world of Franchising. Whenever a franchise is sold, the item purchased is a business; a specific way of doing business that perhaps includes a logo, color scheme, jingle or slogan, and maybe a recognized mascot. When we think of franchises we logically recognize the concept of a ‘business as a product.’ It’s time to think about your business in the same light. What can we learn from this fresh perspective? And how might this work ‘on’ your business, help you working daily ‘in’ your business?

I’d be willing to bet dollars to doughnuts that if you consider this franchise model, comparing it to your current operations for just 15 minutes, you will think of multiple ways to make your business more productive and therefore more attractive to any potential buyer.  Read more... (1016 words, estimated 4:04 mins reading time)

If you have availed of a education franchises business, then you most probably know that education franchises business is like any other independent business in the sense that you need to be dedicated and devoted in your business operations. But the main difference between a education franchises business and an independent start-up business is that you would have the necessary support like consultations, business development, and marketing support from your franchisor.

You also do not need to spend a lot of money in promoting your business because the education franchises brand is already established. You would also be able to use of the latest technology and innovations that your franchisor avails of.

After the complicated process you’ve been through in choosing your education franchises business and your registration, the next step you must undertake is to know how to operate and manage your education franchises business properly. You will not encounter that much problems in your business processes since the business model is already laid out for you by your franchisors. You would also just follow the system your franchisor has developed. You would notice that all education franchises business of different international brands have the same standard, the same concept, and the same procedure wherever they are found in the world. Your franchisor expects the same thing from you so you have to follow the guidelines stated in your agreement. Doing so would likewise give you a competitive advantage against companies with similar products or service because your brand is already known for quality control.  Read more... (501 words, estimated 2:00 mins reading time)