Has anyone bought a franchise, to return to work?

[Hawkeyelisa]

Hi everyone,
it's my first post here, so please be gentle with me..

A bit of background, I have a DD of 7 and B/G twins of 3, who will start school in September this year.

Before I had the children I was an Operations Management Consultant in Manufacturing, so a return to that is out.

I have no family nearby, so I am looking for that age-old pot of gold - a school-hours job.

I have business planning skills and so I am thinking about buying a franchise, particularly one that will enable me to work school hours. Has anyone done this? What are your experiences?

I am still at the research stage, so any advice would be more than welcome.

I have some savings, but would probably be looking to get a bank loan for about 25% of the start-up cost.

Looking forward to hearing anyone's input.

Thanks,

Lisa.

My SIL did this and lost a fortune.

I think you can make it work but have to be very careful about what you pick. As far as I recall there is an annual 'Franchise Fair' every year at Earl's Court where you might get inspiration but be v careful.

FWIW my SIL lost her shirt on a travelling 'mattress cleaning' service (and I think she tried a water filtration thing as well I think).

I have toyed with the idea but haven't for two reasons, one I don't have the cash to purchase a business and secondly when I look at potential franchises I often think I could start something like that myself and be in competition with you rather than pay you a huge sum of money.

What type of franchises interest you? Perhaps you could start up a business on your own without going down the franchise route.

I have had a good look at the information supplied by the company (messy play) and have changed my mind.
For both the reasons above - that they would take a cut of all earnings going forward and they wanted a large sum (£10k+) to even get started.
Thanks for the input Squiffy and ForeverOptimistic - back to the drawing board.
Lisa.

Hi there,

I too lost a fortune.

Hi :-)
i second not buying into a franchise but starting your own business instead. I bought a coffee van whilst on maternity leave, then went back to work for a few months to get some cash behind me. I have a background in catering so it wasn't too daunting. Its a nice easy business to run. It took about 9months to build up enough trade to earn a living and now, nearly 3 years on. It does very nicely for a part time venture. I suppose what i'm saying is stick to what you have some experience in. And keep it simple.

Um, I am part of a franchise and wondered if you would like to work with children. You need to be able to sing a bit and I am being totally honest here, you need about £100 to start up. I too looked at the other franchises and was shocked that they wanted thousands to start with. I am happy to discuss any financial stuff on here, nothing to hide and I love my job!!

OP, I saw on your other thread that it was a recruitment Franchise. I'd say don't do it. To start up on your own you need to know your onions. I was a very successful headhunter and also worked internationally. I have toyed with the idea of setting up my own but I am not familiar with my local area or what they need. A good recruiter would be able to set up fresh with local knowledge. That company just want to make money out of you doing all the work.

I agree with 49andFruity. I own my own Nanny recruitment company and whilst the name is recognised and has a good reputation, the value in the business comes from the currant client and candidate base which has taken over 10 years to build. To open a Franchise in the same name could be done and a few start up steps could be skipped but at the end of the day, you’d still need to establish your own books.
As it happens though, i’m Currently looking for someone to run mine as i’m About to have my first baby. Hours are very flexible and given its childcare recruitment, most of the work is during term time. If you want to know more, feel free to PM me :)