Anxious about starting your own business? Try franchising

There is nothing like being in charge of your own destiny but owning or starting your own business comes with a fresh set of headaches.

And while it is nothing like a day job, it is tough being the boss, the employee, bookkeeper and gopher at the same time.

This is why, said Ricardo Maio of Infinity Brands, franchising still presents the best gap for any entrepreneur wanting to take charge of their lives, and determine their own destiny.

It is like a helping hand and buying into a brand that takes care of much of the slog work so that business owners can focus on what is important: making money and building a positive cashflow.

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Buying into success

Maio said: “The benefits of buying into an established franchise brand include, primarily, that you would be buying into an already successful brand which also removes a large part of the risk in starting your own business from scratch.

“Existing infrastructures will fast track setting up the business and remove guesswork which can be tricky when you are new to being a business-owner.

“Secondly, independently owned franchises have the benefit of tapping into training, on-going support and marketing services. The process of becoming a franchisee is simple and the outcome can be life changing.”

Franchising changed Maio’s life. It’s taken a decade and a half to build his two brands ACDC Express with over 40 franchises and the eight store Sunburst Electric.

He has also recently launched a third franchise brand called The Local Farmer. The Gas Kings and Garden and Pool legends are also young franchise brands in his stable.

Success begets success and after some growing pains, the business and its brands have gone from strength to strength.

He said that franchising allows exponential velocity in growth. Scale is built quicker, from a brand perspective, and buying power and support structures grow concomitantly.

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It has not been an easy path and there have been significant lessons that Maio learnt along the way. And, he said, the most important aspect of any business is the back end.

He said: “When faced with the possibility of the first franchise floundering, I stepped in and turned the business around in six months by implementing strict systems and procedures. This valuable experience taught me the importance of procedural adherence. Success requires consistent effort if it is to be sustained, so with this always top of mind, I have worked diligently to establish myself as an expert in the franchising field”.

Moreover, he said that successful entrepreneurship, whether in a franchising environment or not, is dependent on the wily of an owner, ultimately the boss of a business, but equally the understanding and acknowledgement that it’s impossible to simply do everyone yourself.

He said: “While I wholeheartedly believe in a hierarchical approach and taking an active role in decision-making, I also subscribe to seeking out people who are experts in their fields to contribute input”.