If you are considering starting your own business but are feeling daunted by the prospect, it is worth weighing up the pros and cons of your own business versus choosing a hybrid franchisee model.
Starting your own business
Starting your own business can be exciting and scary in equal measure. It can be one of the most rewarding and challenging things you do.
If you’re thinking of going it alone, a question worth asking is:
“Will I genuinely enjoy starting something from scratch and seeing it grow?”
If the answer is yes, then maybe starting your own business is for you.
The main ‘pro’ about your own business is control. You will have control over what you do, how you do it, when you do it and why. This ultimate control over your success (or failure) will drive and sustain you, even when times are tough. It is incredibly liberating to know what you are building is ultimately down to your own efforts.
However, starting your own business is not easy. You’ll tend to work longer and harder. There won’t be someone to guide you and answer questions. You might not make any money for a while. You could be constantly questioning yourself when you get things wrong.
But there is another way.
A hybrid franchisee model
If you are at Partner or Manager level in an accountancy firm it is worth considering the Grass & Holm Associates hybrid franchisee model.
If you blanch at the thought of being a franchisee and are worried you’re going to have to commit to a huge fee, take a step back and breathe. Our hybrid model runs more along the lines of a licence. It gives you all the benefits but with less cost.
Our hybrid model was set up to be more ethical and offer support without burdening you with overly zealous franchise commitments.
It is designed to offer support whilst being flexible. We understand that you might have different commitments so we’re happy for you to run your business flexibly, with you choosing your hours. We just ask that you put your heart into it.
Buying into a franchise can be expensive. So, we’re committed to transparency. We offer a simple flat fee of £3,000 per annum (net of VAT) with an additional buy in amount of £2,500 in the first year. This works out at £250 a month after the first year.
By becoming part of the Grass & Holm team we also offer:
- A practice that is set up and ready to go
- Freedom to run your own business
- Support and training
- A strong brand
- Marketing and client attraction
- Compliance reviews and guidance
- Standard paperwork including letters of engagement and working papers
- A brand that cares about you, your clients and your business
This model might not be for everyone. But, if you are committed to getting the best for your clients, and you want to run a successful ethical, proactive and caring accountancy practice, then we’d really like to hear from you.
To learn more, please contact us on the website.