What does a franchise owner do?
A franchise owner is a self-employed person who has agreed to buy a licence to operate under the brand of an established company.
Many types of business are run as franchises, for example:
- convenience stores
- food takeaways
- professional cleaning services
- parcel delivery
- estate agents
- recruitment consultancies
As a franchise owner, you’ll have to operate the business in exactly the same way as other franchisees. Your duties will vary, but commonly include:
- complying with instructions about branding, signs, logos and colour schemes
- operating to set standards
- selling products or services
- keeping accurate records
- training and supervising employees
What do I need to do to become a franchise owner?
You don't need formal qualifications to run most franchises, but you’ll be at an advantage if you have some people management and basic accounting skills.
You often don’t need any direct experience of the business you’re running, as training is provided. You’ll have a good start though, if you choose one matching your existing skills and interests. Previous work experience in sales, management and customer service can also be useful.
You’ll need enough money to buy the franchise and pay the ongoing fees. You may be able to borrow some of the start-up costs but you’ll be expected to put up a minimum amount yourself – this varies with the franchise. You may find it useful to take a short business start-up course run by a local college, adult education centre or enterprise organisation.