A positive outlook

The times are tough, but play your cards right and your fortune cookie could point to a prosperous future, explains Vesna Siljanovska

The redundancy level for the last quarter of 2008 was 259,00, according to the latest figures released by the Office for National Statistics. This is a reported rise of 104,000 in the quarter and an increase of 148,000 across the year. This is the highest figure since comparable records began in 1995.
Overall, the number of unemployed people has increased across the
year by 369,000 to reach an alarming 1.97 million.

The reality is that it is tough out there and many businesses will be doing everything they can to reduce costs, keep the business running and retain staff. However, for the franchise industry, it is also a crucial time for franchisors to ensure that their brand is out there and seen by thousands of people who may be looking to become self-employed following a redundancy.

Jonathan Mills, Managing Director of Personal Career Management, which provides an outplacement service, commented: “Outplacement has significantly increased over the last six months as redundancies hit – many of our clients have moved into franchising “Often, people who are interested in self-employment worry about the lack of support and infrastructure, which they enjoyed as an employee. Becoming a franchisee could provide the perfect combination of autonomy and support.”

Never before has there been a pool of so many people looking for work, many of whom would have had redundancy pay-outs and are looking for a business that allows them to become their own boss, but with the support of an established brand.

Jonathan added: “The next two years are going to be an opportune time for franchisors to acquire some fantastic franchisees. There are a lot of very talented people being made redundant who have both the skills and the money to successfully enter into franchising. Our advice to franchisors is: increase your marketing to get ahead of your competitors; be clear about what you want; attract the right people and ensure you challenge their motives for doing it – they may be reeling from redundancy and it may not be right for them.”

Now is the time to make sure you are doing everything you can to promote your brand. Therefore revisit that marketing campaign, assess what you are doing online (see advice on pages 12 and 32), review your advertising, research the advertising within your industry sector, follow up your leads from the franchise exhibitions and let more people know about the benefits of franchising!

Personal Career Management is offering a free initial review for readers of Franchisor News. Please quote BFA0109.
For more information visit:
www.personalcareermanagement.com