Bedshed shares findings on buying a franchise
Should you buy a franchise? The retail franchise Bedshed has produced an independent guide designed to help prospective business owners choose whether to invest in a franchise or a standalone business.
Bedshed chief operating officer Gavin Culmsee [pictured below] said many prospective business owners struggled with deciding whether to buy an independent business or join a franchise.
“In many cases, the most helpful information people receive is advice from existing owners. Bedshed has captured that advice and the insights of those who’ve been there and done it before, and packaged it up for others going through the process,” he said.
“Some of the key take outs were the importance of considering whether the business will be a job or an investment, what lifestyle benefits will be on offer, and how well suited the prospective owner is from a personality and skills perspective.”
“A number of the franchisees who participated in the research talked about purposive business travel being a real benefit they’ve experienced within our franchise. This was a really interesting insight and it’s something potential owners might not have thought to investigate,” Culmsee said.
The guide, which is based on interviews with Bedshed franchisees, as well as secondary research, is the second tool the retailer has developed to help potential franchisees. The company has already developed a franchise calculator to compare the benefits of up to three different franchise models.
“Bedshed is committed to promoting the growth of the franchise and small business industries. It’s something we genuinely believe in,” Culmsee said.
The guide and the Bedshed Franchise Calculator are both available on the Bedshed website.