Franchise Owner
Job Description:Franchise owners are self-employed people who buy a licence to operate a business under an established company's brand.
Job Category:What you will do:
In your day-to-day tasks you could:
- apply franchise branding, signs, logos and colour schemes
- order stock or resources
- attract customers and build up sales
- keep accurate records
- train and supervise employees
- comply with health and safety regulations
Skills:
You’ll need:
- maths knowledge
- the ability to sell products and services
- to be able to use a computer and the main software packages competently
As well as:
- leadership skills
- excellent verbal communication skills
- the ability to accept criticism and work well under pressure (adaptability skills)
- thinking and reasoning skills
- business management skills
- customer service skills
Entry Requirements:
There are no specific qualifications required to become a franchise owner since franchise ownership is more about business acumen, entrepreneurship, and financial management. However, certain subjects and skills can be valuable in preparing you for a career in business and increasing your chances of success as a franchise owner. Here are some relevant subjects.
- Mathematics: Strong mathematical skills are essential for managing finances, budgeting, and analysing business data.
- Business Studies or Economics: These subjects can provide you with a foundational understanding of business principles, economics, and marketing, which are crucial for running a franchise.
- English: Effective communication skills are vital for interacting with employees, customers, and the franchisor. English can help you improve your written and verbal communication.
- ICT (Information and Communication Technology): Proficiency in using computers and software programs is essential for managing inventory, financial records, and marketing efforts.
Post School
You can get into this job through:
- a college course
- applying directly
- training with a professional body
College
There is no set entry route to become a franchise owner but it may be useful to do a relevant subject like:
- Level 1 Principles of Business Start Up
- Level 2 Certificate in Creating a Business Start up
- Level 3 Certificate in Business Essentials
Direct Application
You’ll usually buy into a franchise then get training from the seller who is known as the franchisor.
You may find it helpful to get experience and skills in areas like:
- basic accounting
- sales and marketing
- managing people
- customer service
Other Routes
You could do business training courses with a professional body to prepare for taking on a franchise.
Career tips
You’ll need access to money to buy the franchise and pay ongoing agreement fees.
Working Hours and Environment:
Typically you could work 40 to 42 a week.
You could work in an office, from home or at a store.
Career Path & Progression:
Once your business becomes established you may want to open more franchises.
You could hire managers to run the day-to-day work of the stores. This means you could then concentrate on managing the growth of your chain.