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Do I need experience of running my own business to be a successful franchisee?
The extraordinary thing about franchising is that not only do you not have to be an experienced business person, but you do not need any detailed knowledge about the particular business activity that is being franchised.
The majority of franchisees have never previously run their own business. Inevitably this will mean you may know very little about bookkeeping, accounts, marketing, employment law and so on, so as part of the initial training the franchisor has to give you guidance on all of these aspects of running a business.
Further guidance will be contained in the franchisor’s operations manual. It is, therefore, important to check with the franchisor to ensure that the initial training you will receive will not simply be technical training relating to the goods or services that are the subject of the franchise.
While it certainly helps to be interested in the particular area of business activity, previous knowledge about it is not required. Indeed, many franchisors take the view that they will not recruit individuals with any previous knowledge of their business because they do not want franchisees to come with any baggage in terms of how best to operate their business.
Franchisors generally want to have a ‘clean sheet’, so as to ensure franchisees comply strictly with their requirements.
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