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WHAT-FRANCHISE.COM 81 introduces legislation that affects housing, it affects mortgages, stamp duty, and other things like that. The pandemic was difficult for everyone, and in times like those we really do our best to gang together. Everybody was worried because people couldn’t go and view houses, so all our solicitors and conveyancers were treading water for a good few weeks. In this country, properties are key to all financial institutions, including banks and mortgage companies. Everything revolves around homeownership. Our industry was one of the first to open, which felt odd because you still couldn’t get a haircut, but the industry is key to the prosperity of this country. What’s your best advice for aspiring business leaders in franchising? I think of franchising as a business partnership, and if you can’t see yourself being in business with your potential franchisees for the next five to 10 years then that’s where you need to both consider if this is right to go ahead. People are putting a lot into becoming a franchisee (their future, pension funds, and inheritances) to come into business with you, so it’s vital both parties feel they are the right match for each other. As a franchisor, make sure your business is something you can replicate easily. Don’t ever underestimate the time, the money, and effort that you must put in to get your franchisees up and running. There’s a lot of hand-holding, talking, and keeping people calm because sometimes in the early days they can wonder what they’ve let themselves in for. For franchisees, definitely do your due diligence and be thorough with your homework. See how you’re treated when you go to your initial meeting. Are they talking to you as a prospective business partner? Could you see yourself working with the franchisor? Could you sign on the dotted line to commit to the next five years? Are you going to be able to get up every morning, self-motivated, and drive your franchise forward? Build the business you’re looking at building and work with the franchisor, because they’ll be key to your success. What’s the support? How’s it going to help you? All of that is key. And you’ve got to look at each other as business partners, not an ‘us and them’ situation, which I always feel is wrong. You must be able to work together and have a similar passion for the business you are all a part of. “Definitely do your due diligence. See how you’re treated when you go to your initial meeting. Are they talking to you as a prospective business partner?” Lynne with husband Dave Lister, director at X-Press Legal Services X-Press Legal Services currently sponsor Porsche
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