White Collar Franchises UK
There is an assumption when business people talk about white collar franchises that they are talking about franchises in the consulting sector. While these white collar franchises do fall into the white-collar franchise category, the reality is a white collar franchises is any franchise that requires existing management experience to properly operate it.
In terms of sectors the white collar franchises sector is one that is extremely broad encompassing businesses from a variety of industries. For a new white collar franchises UK this means a sea full of new business opportunities and choices. Each of these franchises presents a different opportunity, product, and experience for its new owner and investor.
From an investment standpoint, white collar franchises have a large range in price points. There are investments available starting at around one thousand pounds and increasing to over one million pounds. This is due in large part to the fact white collar franchises is an umbrella term that applies to a wide array of franchised business opportunities.
What Experience Does it Take to Own White Collar Franchises?
In the broadest of terms it takes business and systems management experience in order to successfully run a white collar franchise. There are also a host of other skills that are useful to have including:
- Human Resources Experience – Experience in dealing with employees, their hiring, training, and creating improvement plans is an asset in the management franchises sector. Many of the business opportunities available within the sector require up to one hundred full and part time employees to make the operation run.
- This naturally creates a lot of people to manage, mentor, and train on a continuing basis.
- Administrative Experience – Dealing with the administrative aspects of a white collar franchise, particularly the larger businesses in the franchise sector, requires a great deal of administration. These businesses need someone to do payroll, book keeping, accounting, and other relevant record keeping in order to stay compliant with government and franchisor rules.
- Financial Management Experience – A white-collar franchisee should bring a host of financial knowledge to the business. This includes dealing with the accounting, book keeping, and taxation needs of the business. They should also be able to navigate managing the cash flow, reconciling the banking, and ensuing the accounting is done correctly.
Major Sectors Known for White Collar Franchises UK
Many of the franchisors opting to pursue the white collar franchises model, do so because their businesses require a great deal of operational supervision. This means there are benefits to their brand and quality of service by having an involved white collar franchise owner operator that is on site. This is very different from the passive investor model where the owner buys the business, hires the manager and is rarely involved in the day-to-day operations. Some of the sectors using the white collar franchises model include:
- Quick Service Restaurants – Almost the entire quick service chain, and chain restaurant industry is franchised, and most of them have a white-collar franchisee requirement. In the case of restaurant businesses of both the quick service, and full service variety, a great deal of on site management is required to make them run smoothly. This is why it is almost an industry wide requirement for white collar franchise operators to be involved, preferably with extensive management experience in the industry.
- Travel Agencies – Travel agent training and certification regulations dictate the franchises in this industry are white-collar in nature. Each agency must have a key agent or broker that is legally responsible for the actions of the business, implement training, and ensure compliance with government travel sales regulations. Also there are few barriers to starting a travel agency, meaning it is difficult to keep a paid manager when they could strike out and start their own agency.
- Industrial/commercial Cleaning – Commercial cleaning is another business that requires a great deal of hands on management. This is especially the case when a business has multiple crews to manage at multiple work locations. These businesses are particularly susceptible to deterioration in customer service without frequent management and inspection.
- Tutoring – Franchises in the tutoring industry also require a white collar franchises. Such businesses are usually responsible for teaching students, and are easy to start, making the industry highly competitive. This means there is little in the way of margin if a teacher is to be hired to do the tutoring, it would be a better proposition for the employee to strike out on their own.
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