A winning formula for how to run your own business
White-collar franchises are an opportunity to use the management and executive skills you have learned to run your own business.
Jacqui Shaw, who runs the Devon and cornwall WPa health Practice franchise with Pauline Neal, agrees heartily.
‘My experience of speaking to senior directors at FtSe 100 companies while working in insurance proved invaluable when i started a franchise providing health insurance services to other companies,’ says Jacqui, 45, from Brixham, Devon.
‘Now i speak mainly to directors in small to medium-sized firms, but my previous experience means i talk to them in their own language, which gives me credibility.’
Mark Southern, commercial director of WPa health Practice, says: ‘We look for franchisees who appreciate the ethical nature of our not-for-profit business and who understand that it is about building business for the long term.’
investment is £9,200, plus a fidelity bond of £2,500.
When eddie Finnigan wanted to start a business after 20 years in human resources, he chose a Select recruitment franchise.
eddie, 40, from Glasgow, says: ‘My background helped me get started, and the Select franchise offered the support from head office and other franchisees that i would not have had if i had started up alone. You can use your management experience and existing network of contacts to help you start a white-collar franchise.’
Suzie Mccafferty, head of franchisee recruitment at Select, says: ‘ Many of our franchise partners come from a management or corporate background and have the transferable skills we look for, such as business acumen and the ability to build relationships.
‘they often come with a contact database of potential clients, and may have used recruitment agencies as a client in their previous job, so they have seen the opportunity to provide a more professional service.’ the franchise fee is £14,750.
other white- collar franchises include taxassist accountants. Many of its franchisees are accountants and finance professionals, but that is not essential because franchisees can employ and manage accountants, leaving them free to run the business. investment is £34,950.
WPA 01823 625 120; Select 0115 828 1263; TaxAssist 0800 0188 297.