With a project to build the new container terminal at Peels Port in Liverpool, Liverpool 2, or L2, is capable of berthing the world’s biggest container ships. The Northern Powerhouse is part of George Osborne’s plan to connect city economies throughout the North and reposition the economy away from the South.
Mark Whitworth Chief Executive of Peel Ports Group has been named as ‘Business Person of the Year at the Liverpool Echo Regional Business awards. In an interview earlier in the year Mark Whitworth says “About 65% of the UK population resides closer to Liverpool than any other port. It is too easy to only look south. Logic tells you that we have a very strong market on our doorstep which today we are not exploiting.”
Which sector is for you
With this in mind, there has never been a better time to take stock and see where your life is headed. Do some research and see if a franchise business is for you before you start looking at individual businesses, whether it is a vending franchise or work from home internet franchises.
Some statistics from the British Franchise Association show that one in five franchisees who launched their business in the last two years was under 30 years old when they did so, and one third of franchises have ten or more staff. Franchising contributes in excess of 15billion to the UK economy. Banks are more likely to lend to franchises as they are more likely to succeed than an independent business.
So looking at the individual franchises themselves, find one that fits comfortably within your budget. Are you looking for a part time business like an education franchise, with a small entry level fee that you can pay for easily or are you thinking of going big and getting a loan? Think about what would make you happy. Are you looking for big a big brand name and recognition in the community, or are you looking for a small successful computer franchise that enables you to work from home? Would you like to stay in the same industry and feel secure in the knowledge that you are already experienced in your industry? Or are you looking for a complete change, and wanting to learn something new and exciting. Maybe it is something you already know and would like to expand into and rather than offer your skills up for free at work, you would like to take your skills to the next level.
Depending on which franchise opportunity you choose, the higher level entry fee are more likely to want you to have experience and some background knowledge. Having said this, many franchisors relish the fact of taking on a franchisee with no bad habits to break! One of the major reasons for the success in the franchise industry is the fact that the franchisor has already perfected the model, so the last thing they want is for someone to come along and try to ‘fix it’.
Taking the next step
So if you can live with this, then you really are set for researching franchise opportunities. The franchisor will teach you everything you need to know about getting your business off the ground. They will offer guidance and support to keep you on track. They want nothing more than your success!
If you are just starting out in your search, why not let Approved Franchise offer their expert advice and help you to find the right franchise business for you. Whether you are in Liverpool or not, enter your details above and use the free service of Approved Franchises where you can compare franchises all in one place.