If starting your own business sounds a bit intimidating (we don’t blame you), but taking over an existing business doesn't sound like the right fit for you, you could be suited to be a franchise owner.
What is a franchise you may ask? A franchisee (franchise owner) pays an initial fee and ongoing royalties to a franchisor and in return, they gain ongoing support from the franchisor including assistance in marketing and training, and also the right to use the franchisor's system of doing business and selling its products or services.
Not only does becoming a franchisee mean that you are buying into a well-established brand, but it also offers a number of different advantages.
The best thing is that you can avoid a lot of the (costly!) mistakes start-ups typically make. This is because the franchisor has already perfected daily operations through years of trial and error. You also have someone there to guide you along the way. Sounds pretty good huh?
Reputable franchisors like Three Beans will also conduct research into new locations before selling a new outlet. This way franchisees will have greater confidence that there's a demand for the service and that you are going to have a successful business.
Finally, start-ups have to find new suppliers (which often takes hours, if not days) and have to negotiate on their own, which usually gets less favourable terms. From buying ingredients and supplies, to advertising and negotiating for locations and lease terms, you'll benefit from strength in numbers.
Choosing the right franchise is about matching your personality, skills, experience and motivation to a particular franchise. It's about getting a good fit between you and the business. Three Beans looks for people who share its passion for coffee and food, which is exactly what Three Beans Beecroft owner, Aman does. We sit down with Aman and chat to him about his journey so far...
Q. Firstly we’d love to know a bit about your journey to becoming a Three Beans Cafe owner. Have you always been a foodie at heart?
A. I love being around people and the hospitality industry is more than just food, it is about the people and the experiences. I just can't picture myself being in an office or doing other jobs where you isolate yourself from everyone. To become the owner of Three Beans Café Beecroft, I had to work really hard to be in this position and I couldn't be any happier with the decision I made.
I love the fact that I can easily get hold of Matt and James and they are open and honest about everything. This has made the whole process a lot easier and I couldn’t be happier.
Q. As you know Three Beans is passionate about sustainable, ethical practices with a menu based on whole foods in their pure form. How important is this to you personally?
A. Me as an entrepreneur, I am always wanting to create something not to just help people with their needs but also to create something that can support society and the environment around us. So why reinvent the wheel when it has already been invented. Three Beans has been doing an awesome job since 2006 and me being part of that is great.
Q. What’s your most memorable customer moment?
A. When we received a drawing from a child thanking our chef for his meal and how he enjoyed it so much. He draw the chef presenting his meal, it was a really lovely drawing and reminded me why I love doing this job so much.
Q. And finally - what’s your favourite coffee & dish to order from the new Three Beans winter menu?
A. Soy dirty Chai latte and the new Mexican Bowl – Yum!.
Does Three Beans sound like it could be the right fit for you? Contact Matthew Howe, firstname.lastname@example.org for more information.