Starting a new business doesn’t have to be restricted to when the economy is good. By investing in a Transworld Business Advisors franchise, you can launch your new business now, and watch it grow.

Whilst some entrepreneurs are happy to continue building their portfolios, there are some for whom the predicted recession is putting a pause on their goals. Understanding how the economic forecast can affect your new business venture is a wise decision, and means you don’t have to wait until things pick up. In fact, according to research carried out over the summer, 51% of business owners actually believe 2022 is a “good time to start a business, despite global and national challenges such as steep inflation, the cost of living crisis, and the Great Resignation.”[1]

Two of the biggest considerations for starting your own business, are knowing your why and ascertaining how you can meet prospective customers’ needs and demands. The second of these, can be made clear, when you look at investing in a franchise – such as ours.

At Transworld, once you’ve decided on your why, we can help with the rest, based on our “why” and “how”. We have been supporting business owners to exit their businesses for over 43 years. There is consistent demand for the expertise we provide our clients, many of whom feel lost and confused about how to sell their business, until they discover us. Through the Transworld model, you’ll discover the Transworld steps to selling a business, and support your clients through an often emotionally difficult transition.

In a previous blog, we looked at how a franchise’s resilience and business continuity is a strong indicator of how well it will do in the future. This is because the brand is successfully providing a service or product customers are happy with. The length of time any brand has been in operation can give you clear insight into whether it has traversed challenges, such as those we’re currently facing in the UK.

You may be all too aware of the statistics around why businesses fail early on in their journey, under normal economic conditions. Never mind the current ones. In the same study among business owners regarding start-up failings, researchers found:

• 73% believed failure was due to a lack of experience and awareness
• 68% thought it was due to a lack of mentorship or guidance
• 56% struggled with the tools, admin & paperwork of running a business

Lack of experience & awareness

With Transworld, you don’t need to have experience with buying or selling a business. We’ve gone through the early trial-and-error process so you can succeed. If you have an aptitude for instilling confidence in people, and can successfully guide them through strategic steps, then the Transworld franchise can work for you.

By tapping into our experience of supporting thousands of business sales over the last four decades, and by implementing the training you’ll receive into the Transworld model, you’ll quickly gain an awareness of what makes a Transworld office run so successfully.

A lack of mentorship or guidance

Within the Transworld network, you’re surrounded by people who truly understand your business. So, not only will you be supported by the Head Office walking beside you as you begin to meet with clients and negotiate the sale, but you’ll also be mentored by another franchisee within the network. Someone who’s successfully building their own business, and motivated to help you achieve growth in yours.

Around 76% of entrepreneurs thought the process would have been far easier, if they’d been able to create better support networks for themselves. As a Transworld franchise partner, you’ll access a support network already in place. You’re in business for yourself; not by yourself.

Not understanding all the tools, admin and paperwork

Starting your own business often means doing all the admin, too. However, finding the right tools isn’t as important to you, initially, as getting off the ground! It can be quite laborious when you’re not so confident with this aspect of running a business. Which is why franchising is such an attractive prospect, as the franchisor already has everything in place ready for you to use.

At Transworld, we know what you need to run a successful business, and have sourced the systems and processes which work best for our kind of service. Through our training programme, you’ll learn how to use everything we use, so you can start working efficiently, from day one.

Feeling more confident about working for yourself?

A franchise isn’t the right route for everyone, but will be for some. Similarly, one of our Transworld Business Advisors’ franchises won’t suit everyone: but it might suit you.

Having grown as a global brand, since 1979, we can help you start your business with confidence, whatever the circumstance. But, why not chat to our Managing Director, Henry Ziff, about any concerns you may have about starting your own business, at this moment in time?

---

[1] Survey of 500 UK business owners, carried out by Oneday: hrnews.co.uk/more-than-half-of-uk-business-owners-say-that-2022-is-a-good-time-to-start-a-business/