The future is franchising: How working in the industry is enabling the next generation of franchisees
Pip Wilkins, CEO of the British Franchise Association (bfa), explains why franchising is a reduced-risk business option for entrepreneurs, before interviewing a multi-unit franchisee about his journey.
For many, starting a business may seem like reaching for the stars, which is why entrepreneurs should be applauded for taking a risk, and going after what they want. Global Entrepreneurship Week was created 10 years ago to drive up global interest in entrepreneurship and to open up opportunities and information to budding entrepreneurs. it’s an initiative that has launched startups, brought forward innovators and inspired business owners.
This got me thinking about how franchising offers those wishing to become entrepreneurs the ability to chase their dreams, while still having a support network, ongoing training, and the knowledge they are entering a growing industry, as our recent survey stats show.
Being a part of a franchise doesnt mean you are essentially a manager of another brand outlet. You own the business, you can set your own business goals, contribute ideas for the future of the business and even expand into multi-unit franchising. Entrepreneurship is all about developing and managing a business, and being willing to take on the risks that come with launching that business. Franchisees are responsible for their franchise and must be willing to work hard for its initial and continuing success.
What we have noticed at the bfa, and as the recent survey stats back up, is that franchisees come from all backgrounds, and there has been a sharp rise in under 30 franchisees, as well as a spike in women becoming their own boss. Franchising is enabling those outside of the normal status quo to flourish.
Rob Simpson, Director of Drain Doctor Plumbing Anglia, a commercial and domestic plumbing and drainage maintenance company, recognised how being a multi-unit franchisee has allowed him to flex his entrepreneurship muscles. We speak to him about his journey into franchising, and how you can get involved, too.
Tell us your background before you joined Drain Doctor Plumbing
Prior to Drain Doctor Plumbing, I worked at an estate agency for 11 years at branch manager level and then moved to Yellow Pages for 13 years, where I started in sales and then moved up to a National Account Manager.
How did the opportunity come to buy Drain Doctor Plumbing, and why did you join?
Having worked for Yellow Pages for over a decade, I knew it was time to make a career change and find a business that was recession proof. Recognising this, I felt I had four options to stay and eventually be made redundant, emigrate, work in London and make lots of money, but not see my family, or I could start my own business.
It wasnt until I was chatting with one of my clients at Yellow Pages, a Drain Doctor Plumbing franchisee, that I even considered franchising. He told me that he was looking to sell his business because hed had a health scare and the rest is all history. I immediately went home, discussed this with my wife, Sam, and then went away and did my research and due diligence. We then agreed a sale price for the three territories, which took about six months, and then we started trading as the new owners in November 2009.
What experience did you have before going into franchising? And has it helped you?
Bearing in mind that I left Yellow Pages during the recession, I managed to secure a couple of loans. A third was financed through the Enterprise Finance Guarantee, a government-guaranteed lending scheme for smaller businesses, and the other two thirds were financed with a consideration loan from the previous owner.
Why have you decided to expand your franchisee ownership Drain Doctor Plumbing? What was the process of the scale up?
We have been serving commercial and domestic customers now for nine years now, covering Suffolk, Norfolk, Cambridgeshire and Essex and have had good organic growth. With the lease on our premises coming to an end, it was a natural next step for us to find new headquarters which could enable us to continue to expand both our business and accommodate our growing fleet of highly trained and qualified plumbing and drainage engineers, vans and support staff.
Building on the success of our other territories and following discussions with the franchisor, we have also recently increased our territories and now cover North East and South East London and Kent.
What do you want to achieve at Drain Doctor Plumbing? Do you have any goals?
Pip Wilkins's journey into franchising and working at the British Franchise Association started at the age of 19, just before the turn of the century.
Fast forward 20 years, and she is now CEO of the association. Pip believes the thriving franchise community is one with diversity and a collective passion that is rarely witnessed in the wider business world.