Franchising with a Franchisor in a newly established Irish Franchise

J

James Bond

Guest
Hi,

Anybody any real insight into Franchising from a hands-on point of view, I know the concept and all that, I need some insight into your experiences, pitfalls and the best route to take, I suppose I am looking for reassurance that it is a good concept with support and all that comes under the Franchising umbrella reason for initial fees, I have viewed all the websites etc. other Franchising forums. I have done alot of research into this format of starting your own business or is it your own business????
There is no franchising law, is there specialist Solicitors and Accountants in Ireland to advise someone about to embark on this business.
I am about to make the plunge using most of my own funds and business acumen, coming from an employee status to self-employed it can be scary!!! All views and opinions greatly appreciated.

Thanks,

James B.
 
Hi James,

The power of a Franchise is powerful if it is a good Franchise, I have been considering this myself over the last while. You need to be very careful as to what Franchise and what type of business you get involved in, make sure you are knowledgeable about the business at the outset as knowledge is power and lack of it is going to be a bad foundation. You said you looked at some websites, are these the franchise promoting websites or are the independent and unbiased views of the business. You need to be very aware of the large and varying amounts of money that you have to invest to get started in these Franchises. a newly established Franchise has no track record or market penetration, it is the same as starting without the Franchise only you have their support etc. etc. If it is very new franchise and never before, take your time and weigh up all the angles.
There are Solicitors in Dublin and Cork who advertise as specialists in Franchising, do a google search and check the Franchise Association websites.
Hope this helps somewhat, Franchising seems to be taking off big time in Ireland in recent years, best of luck keep me posted all information is welcome.

Ml.
 
James,

I found some names of experienced Franchise solicitors:

Beauchamps Solicitors, Dublin 2 01-4180600
Bill Holohan & Assoc., Dublin 7 01-8898597 / Cork 021-4300734
Mason, Hates & Curran, Dub. 2 01-6145000

These are recommended by the Irish Franchise Association.

Ml.
 
Thanks Ml.,

You are very helpful all info is greatly appreciated.
Alot of thought and research is going into this idea at the moment its great to get other peoples views.

James B.
 
Franchises are sold on the basis of providing a solid, proven business system that can be replicated. A new franchise might have only one pilot (company owned) store in operation and should therefore be viewed with caution. Have you checked out www.franchise-chat.com? The discussion forum there is sobering reading for anyone thinking of franchising.
 
Thanks Cole,

This Franchise business is very solid as legislation will set it in concrete and it will be nationwide, be it a Franchise or individual independent business. It has not been proven yet but this company for the past year or two is engaged in this activity in general and now will specialise as the law is becoming effective.
It can be started without a Franchise, but I coming from a diiferent background with less knowledge and experience about the business than the Franchisor would be at a diadvantage from the start. I can do intensive training for the knowledge but the experience is not in any book.
As Franchising goes you have the support at start-up and on-going and they would probably have more exposure to the market and subsequent penetration than I would if I started on my own.
You could say I am at the crossroads of the decision to go either way and I am looking for opinions from anyone out there who has a view on this situation.

James B.
 
Hi all,

I would love to hear other peoples view on the Franchising topic as a whole and if they have any experiences, positive or negative.
Franchising has grown enormously over the past few years in this country.

Ml.
 
Hi Guys, I have been looking at the franchise market for about 6 months now and have found it very disheartning. Although the food franchises seem to be the most stable financially (Subway, 4-Star, Dominos etc.) its nearly impossible to find a good location and none of them will help you until you have a place that meets their sometimes impossible criteria. If you do actually stumble upon a suitable location you may find a few of these extra hurdles: The area you pick is already under development with another franchisee: The landlord does not want to let to a food outlet: The lease is being reassigned so cannot be amended to franchisors strict guidelines. If you get through these hurdles you need to apply for planning permission for a take-away which they say takes 3 months but don't be fooled, it is more likely to take 18 months or so. I thought the idea of franchising was to take the hassle out of setting up but there are many other hassles you face instead. I am now looking at the "man in a van" franchises because they are quicker to set up and there are a few that you can grow into a lucrative multi-van business. I have the capital required for most franchises but time is not on my side as i am not working at the moment.
 
Fastway couriers was a good one too, not a lot to start up and they have a minimum wage for the first year.
 
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