A franchise is a great way to take charge of your own destiny

Setting up your own business and taking charge of your own destiny could turn out to be the best move you ever make.
Being your own boss can mean working hours which suit you and the more you work, the more goes into your pocket, rather than simply boosting the profits of your employer.
But starting a business can be a huge risk with a variety of factors set to challenge you on the road to success.
A franchise is a great way to improve your chances, said small business expert, Cathryn Hayes of HSBC, right. “Going into business as a franchisee of a well-established, proven business will give you the best possible start.
“But it’s essential to do your research, making sure that it is the right one for you.”
There is a huge range of opportunities for potential franchisees from fast food outlets such as McDonald’s and Domino’s Pizza, through domestic cleaners such as Molly Maid or car -related businesses like Chips Away or Car Medic.
The key is to find a business that suits you – you don’t need to be an expert, but you will need drive and enthusiasm.
“It’s important to take your time when looking at different franchise opportunities,” said Hayes.
“Taking up a franchise is likely to be one of the most important decisions in your life and the life of your family.
“However enthusiastic you are, don’t be rushed, and do your homework. Remember all business involves risk, including franchising.”

She said people should take as much advice as possible – from banks, lawyers, accountants and from various franchise publications and bodies.
“Examine your strengths and weaknesses – what skills do you have? Does the franchisor provide training and back-up to help you overcome any weaknesses?” said Hayes.
One good idea is to talk to existing franchisees.