How to Own Your Own Franchise Business: 5 Expert Tips

Offering a world of opportunity, becoming the owner of a franchise business is an exciting new start that offers unlimited potential. But where do you even begin? Discover our guide to owning your own franchise business, and kickstart the journey towards becoming your own boss.

What is a franchise business?

Before diving into how it works, firstly you need to understand what a franchise business is, and why in today’s climate, it’s such an attractive way of running a business.

Put simply, a franchise is a business that is owned and operated by an individual (the franchisee), but is run under the  brand name of a much larger brand (the franchisor), selling the franchisors goods and services, under the brand name.

Why become a franchise owner?

You’ve decided to start up your own business, so what are the perks of following a proven business model? Owning and operating a franchise comes with many benefits including:

• Low failure rate. When buying into a franchise, you are also buying into an established idea that has been proven successful. Therefore, you get the benefits of being your own boss, whilst undertaking a low-risk opportunity.
• One of the most significant benefits of owning your own franchise business is that you have the support of a large, parent company behind you. From ongoing support to training and marketing, you won’t be diving into this new venture completely alone.
• Faster ROI. Return on investment is the key to ongoing success and business growth, and ROI is likely to come in significantly quicker when the brand is already a household name. Customers will already know the quality they can expect from your products, so won’t hesitate to enjoy your services.

How do franchise businesses work?

Now that we have established just a few of the advantages of owning a franchise, it’s time to dive into how to get started.

1. Establish your industry

With a plethora of opportunities out there, the best place to start is to consider the different industries looking for franchisees, that align with your current business goals.

Some examples of popular franchise industries include:

• Cleaning
• Retail
• Health and Beauty
• Food
• Automotive
• Industrial

While there may be franchise opportunities available, some sectors are likely to offer more benefits than others. Some questions to consider are:

• Is the industry recession proof?
• Do I need prior experience?
• Will there be ongoing and consistent contracts?
• Is there already one in my area?

Commercial cleaning franchising is one of the most popular due to being a low risk, high reward business opportunity, with hygiene and cleanliness a top priority wherever you go. With the ongoing cost of living crisis, investing in a recession proof sector is beneficial for entrepreneurs that are more cautious and would like to own a business that has unlimited growth potential. Fortunately, the janitorial industry is historically steady and demonstrates consistent demand.

2. Investigate the franchisor

Once you have found a potential franchisor, it is important to carry out some research before making a decision. This could include the history of the business, their position in the market, how many locations there are and their financial health. Doing this will highlight whether buying a franchise with them is a viable option for your long-term business plan going forward.

3. Franchise fees

Deciding to buy a franchise is a huge financial decision, so it’s important to consider your own finances as well as that of the franchisor. There may also be costs which you haven’t considered, so it’s important to understand exactly how much you will need to invest into your career move. It’s a good idea to arrange a meeting with the franchisor to go through all your questions and gain a clear picture of the costs involved.

For instance, after you have completed an enquiry form, Jani-King arrange an initial meeting where together you go through the opportunity of becoming a franchisee and every element of the franchise model, including costs.

In your meeting, have financial questions prepared, such as:

• What is the initial fee?
• Are there training fees?
• Do I need to purchase equipment?
• Are there promotional costs?

Following this, you can ascertain whether you will need to take out a loan and begin the process of applying for financing.

4. Reviewing the Franchise Agreement

Following your initial meeting, when you are comfortable, you will be asked to review and sign a franchise agreement document. The franchise agreement is a legally binding document between both the franchisor and franchisee, incorporating the rights and obligations to license and sell a company’s intellectual property and licensing rights. To operate legally, there must be a franchise agreement in place.

5. Lease out a space for your small business.

Once you have successfully returned your franchise paperwork and confirmed the legalities, now is the time to lease out a commercial space to run your new business from. Whilst you are likely to know the franchise location you are going to be operating in, it is best practice to hold off on putting a deposit down on a space until the franchise agreement has been accepted.

Franchise opportunities with Jani-King

Now that you know how to own your own franchise, it’s time to get started.

Jani-King is giving you an exciting opportunity to become the owner of your own commercial cleaning franchise. From independence, autonomy and flexibility, the benefits are limitless!

Why choose commercial cleaning?

With plenty of industries to choose from, why choose commercial cleaning?

A key factor in starting up your own business in cost. Fortunately, a commercial cleaning business is a relatively inexpensive setup in contrast to other sectors, simply requiring professional cleaning supplies, equipment, and a small workforce. Furthermore, cleanliness is vital and all public spaces require commercial cleaning services, meaning you can expect to see an influx of regular income. Finally, cleaning doesn’t require any specific qualifications and while training is necessary, it is achievable for everyone.

Why choose Jani-King?

Why choose Jani-King for your cleaning business? The world’s largest commercial cleaning franchise, Jani-King have a network of over 9000 franchises across the globe. With more than 120 support offices globally, we ensure that you have all the tools and training you need to truly succeed in the world of cleaning.

Another great benefit of choosing Jani-King is that we guarantee to provide a pre-agreed initial amount of monthly cleaning business. Therefore, your business will be financially healthy while you cultivate your own cleaning business leads. Find out more about the Jani-King guaranteed business promise.

And to top it off, our franchises accommodate a range of lifestyles, so you can still enjoy the flexibility of having your own business. From cleaning services business mentoring and practical administrative help, you can have peace of mind knowing that you have the security of the backing of an industry leader.

But, don’t just take our word for it, read case studies from some of our most recent franchisees.

Start your journey today with Jani-King

Kickstart your journey to becoming a franchise business owner today and get in touch. From there, we can begin with a meeting and provide you with additional information to browse. Alternatively, fill out our form and we’ll give you help with each step of your business journey.