If you’re looking to invest in a franchise sector of constant demand, computer and tech franchises are no exception. It’s not unusual to see elderly people unfamiliar with the latest tech, maybe not even having an email address or smart phone. But despite this, according to Statistica, laptop ownership in the UK stands at a whopping 67% of households. That means, more than half of households in the UK own a laptop. What’s more, as the next generation of people become more and more familiar with tech, it’s easy to forecast that 67% going up. And that’s just laptops. Computer and tech franchises wholly apply to pretty much everything with a computer chip. Today, even cleaning franchises are becoming technically advanced. From electronic office cleaners and sanitisers to the E-automotive sector, demand for tech franchises really is just beginning!
Let’s take a look at those advantages of investing in a tech franchise.
1) A Sector Ready to Explode
About a decade ago, tech mainly revolved around computers, tablets and the dawn of the smartphone. Today, a new generation of tech is rolling in – fast. Buy a new car and there’s a good chance it will be an electric one, one that is compatible with your smartphone. The electric car market is off to a slow start, but with governments banning the sale of fossil fuel cars, its a market that is set to expand. From TVs to printers, everything depends on the owner having at least a basic understanding of technology. Operating Systems are becoming uniform, with most devices either having an Apple, Windows or Google operating system within. Even cars are utilising this technology.
10 years from now, a computer/tech franchise could include everything from automotive franchises to cleaning and food. There are a number of food ordering franchises out there. All of which revolve around an app and the internet. Home based franchises require at least some form of tech.
As the population grows, so does the average percentage of population more competent with tech. Be ready for this demand with a computer related franchise and get ahead of the game.
2. A Safer Route to Business Ownership
One of the many reasons so many people are choosing to go down the franchising route for owning a business, is because it is safer than starting up alone. There are many reasons why you might choose to run a business instead of employment. Having control over decisions is one reason, no-one to answer to being another. Whilst owning a franchise doesn’t give you complete control, it’s for the better. When buying a franchise, you’re still going to be your own boss. But there is a proven system in place. The marketing, the branding and the structure of the business. The foundations are already there, you just need to build on it in your own area. Regardless of the computer type franchises you’re investing in, a proven business model is already in place. By having the business model and branding laid out for you, it’s your job to ensure the franchise business prospers in your territory, and you can have fun doing so – as your own boss.
3. Diverse Range of Tech Related Franchises
Building on point number one, the computer related franchise sector is enormous. As technology continues to grow, so do the potential opportunities within the franchising sector. Here are some types of industries, and how computer franchises apply:
Automotive Tech Franchises
As we move away from petrol and diesel cars, electric vehicles are becoming the default option. Whilst early days see people hesitant to make the move to an e-Car, the reasons are justified. Not enough charging points being the main one. But what if I told you there were franchises in the UK that actually deal with e-Car charging points? From home charge to mobile charging point management and installation, the auto-tech franchise sector is already well established.
Home Based Franchises
With low overheads and flexible work/life balance, computer and tech franchises can often be run from home. From digital marketing franchises to web design franchises, home based business offer the flexibility you’ve been looking for.
Food Tech Franchises
The food and beverage sector is diversifying, integrating well with the computer and tech franchising sector. From food ordering app franchises to web design for food related clients, computers are integrating themselves well into all franchise industries.
From cleaning to home improvement, computer related businesses integrate themselves with almost every franchise sector out there. Even home improvement and construction franchises are taking on the advances in tech, from partnerships with robot grass cutters to machinery and equipment.
4. Brand Recognition
If you’re aware of the concept of franchising, you’ll probably understand how impactful branding and marketing can be within a franchise network. Franchised businesses benefit from powerful group marketing. As more and more franchisees establish themselves throughout a country, the brand becomes widely recognised. Think of some big name highstreet chains or restaurants – at one point they would have started off small. Gradually as they build on their franchise network, the brand name gets better known. This is the benefit of franchising. As more and more people become aware, it can have a positive impact on the entire franchise network.
This gives you a powerful start to running your own business. A head-start that would be there if you started up alone with a freshly trademarked brand name.
5. Everything You Need – Provided
At first glance, seeing a 4, 5 or even 6 figure franchise investment on a franchise directory or franchise prospectus may seem off-putting. But just remember with franchising you’re getting a business in a box. How big that box is, ie how big the investment is, is often proportional to the franchise you’re buying. When you start a business by yourself, you pack the contents of the box bit by bit as you establish the business. That’s things like the intellectual property and branding, its the partners and suppliers, and its the equipment.
Buying a franchise, the box is pre-packed. You’ve got your suppliers (combined with discounted purchasing power), proven brand, franchise operations manual – the lot. And given that you’d probably make mistakes starting up a business from scratch (everyone does) – a franchise saves you making these mistakes which are bound to be costly.
Obviously, there are times when you’d rather start up your own business. Maybe you’ve got an idea for a unique trade, that’s fine. All franchises have to start somewhere. But with computer and tech franchises, things like a web presence, email addresses, PPC, software and hardware are usually included as part of the investment.
6. A Business You’ll Love
You won’t be spending thousands of pounds on something you won’t enjoy. Buying a franchise requires a lot of thought. You’ll only be buying a franchise if its something you’ll enjoy and something you can see yourself doing 5-10 years down the line. Rather than drop in to another 9-5 job, why not drop in to business ownership and make yourself proud?
If you enjoy working with technology and love the idea of making a difference in your community, why not invest in a computer franchise?
7. Flexible Working Hours
As your own boss, you can enjoy better control over your work/life balance. No longer will you need to be in the office for 9am, because many computer franchises enable you to work remotely. There may be some commuting element involved, especially if you’re meeting a client or potential partner. In general, franchises enable you to plan your career around your other requirements. That’s the benefit of being your own boss. Be sure to comply with the franchise operations manual so that the franchise has the best possible chances of success.
8. Full Training and Support
Many computer-related franchises boast needing no web design, SEO or tech-specific experience. This is because as part of the franchise investment, full training and support is provided. This might take the form of residential training covering aspects of business ownership. Or it may be a series of video calls. Ongoing, you’ll usually benefit from R&D updates and marketing provided by the franchisor to keep up with the latest trends in technology.
While franchises usually involve an ongoing fee, typically paid monthly, this contributes to a group marketing fund which the franchisor can use to support you and other franchisees. This might involve paid search and social media campaigns, it might even include TV advertising to drive clients to your mini website.
With franchising, you’ll have the experience of franchisor and franchisees to call upon if you need.
9. A Rewarding Sector
In today’s society, no business can be without a website. By investing in a computer related business, you’ll benefit from the appreciation of knowing you’re supporting other businesses and helping them to thrive. Maybe you’re providing digital marketing services to clients, or PC repair services to your local community, owning a computer franchise means you’ll be making a difference.
10. An Asset You Can Later Sell
At the end of the franchise agreement, if you decide not to renew, you can sell your franchise territory. This is called a franchise resale. You can sell the business to someone else, who will take over the reins whilst you retire or change career. Depending on the valuation of the business, you can expect anywhere form a 5 to 6 or even 7 figure income for your territory. Franchise resales are turnkey businesses, with the existing established territory and client base, so you can likely expect to get back more than what you paid for the franchise.