Starting a business is a big decision, and it’s important that you do your research and make a plan.
Then once you’ve done the right research, it’s time to take action, this is the real key to success.
A franchise can be a brilliant idea for people looking to start a business with a strong success rate. A good franchise will have a successful business model, customer base, brand and network in place so you can hit the ground running.
Here’s 6 things you need to think about before buying a franchise:
- Market opportunity – it’s important to research the market you’ll be entering into. This will ensure you know there is demand for the business and you’ll be able to get the customers. When we apply this to We Love Pets, the market has never been better; nearly 50% of UK households now own pets and people are looking for welfare-first pet care.
- ROI (Return on Investment) – when thinking about buying a franchise, you will need to check that it’s a viable option for you. A good franchisor should give you access to business figures, investment costs and earning potential in your area so you can see whether you’ll get a good return on your investment. Don’t just pick a franchise because the start-up fees are cheapest (consider why this might be, it could actually mean something bad), and think about what further running costs might be too. Ask about how payment is made, and the flexibility your franchisor has. Knowing and understanding how your finances will be affected is important. At We Love Pets, we will personally go through the figures with you and make a plan on how much you need to earn each month to make a living and get a good return on your investment. We believe it’s all about transparency and will show you exactly what our other We Love Pets branches earn.
- Support – it’s important to look at the overall franchise package and what support they offer. You need to check exactly what you will get for the initial franchise sum. We are extremely proud of our industry leading franchise package where we offer excellent training, expert support and a brilliant network of people to guide you through your business journey.
- Trust your gut – just like any career decision, you’ve got to ask yourself, does this feel right for you? Are you passionate and excited about this franchise? Does their mission and company values align with your own? At We Love Pets, we want to find people who, you guessed it, love pets! We are looking for passionate animal lovers who want to make a positive career change away from the mundane 9-5.
- Look at the franchise model – look at the business model for the franchise you’re thinking about, is it a model for success? You can see this by looking at the success of the current franchisees in the network. Is the franchise BFA accredited? A BFA accredited franchise means it has proven to be ethical and passionate with best practices and innovation at it’s heart. Look at the website, is it professional? Do they come up on the first page of google? We Love Pets are BFA members who are proud to have a tried and successful business model with over 170 successful branches and growing!
- Testimonials – before you decide on a franchise, you should go and visit or contact somebody who is already a franchisee with the company, they will be able to give you inside perspective on what it’s like to run a franchise. A franchise should give you access to current franchisees and video testimonials. We’re incredibly proud of our network of franchisees and will always encourage potential franchisees to talk to our current franchisees. We will give you access to franchisee interviews and testimonials to show you what it’s like to own a pet care branch with us.
Is a We Love Pets franchise right for you?
We Love Pets is proud to offer a market-leading franchise package which gives you everything you need to launch a successful business straight away, and become part of a national brand with a brilliant reputation and award-winning service.
We’re looking for individuals who want a career change away from the 9-5 to doing something they love. We Love Pets is for individuals with a passion for pets and animal welfare, who want to be their own boss and build a brilliant team.
Our amazing support network, workshops and resources give our franchisees everything they need to build a thriving business. We Love Pets sees each one of our franchisees as part of our huge extended family (over 80 franchisees), and we’ll be there with you along the way to celebrate each achievement and milestone.
Our franchisee training week gives you the knowledge, skills and tools to launch your successful pet care branch. Our franchisees leave feeling confident that they know how to run, advertise and build their own business. You will meet the entire head office team, as well as other franchisees, so you will feel well connected before you even start. No matter how long you have been working with us, we will always support you through any challenges – you are never alone in our wonderful network.
We Love Pets wins multiple awards each year and we’re proud to be in the Elite Franchise 100.
Hear our founder Jo chat about what you need to research before buying a franchise:
If you’d like to know more about We Love Pets franchising, download our brochure here.