Posted:06-March-2009
Economic Climate Sees High Interest in Franchising
This month we look at how the current economic climate is boosting the number of people who are now considering franchising as a future career.
With the current uncertainty in the job market, increasing numbers of people are seeking to take charge of their own destiny by becoming their own boss. Today’s economic climate has created a surge in the number of enquiries received by leading franchisors such as Domino’s Pizza.
Andy Hirst, head of franchise development at Domino’s Pizza, comments: “The start of the year usually sees an increase in the level of interest we receive from people keen to become franchisees. However, this year, we’ve received one of our highest ever number of enquiries from potential franchisees.”
Domino’s Pizza believes the rise in enquiries is down to a number of factors including the growing number of people who have been made redundant and are looking to use their payouts to set up their own businesses, as well as those keen to escape the uncertainty of corporate life and take charge of their own career. The level of interest is also likely to have been bolstered by Domino’s recent announcement of a 25% increase in profits in its 2008 preliminary results, and the high levels of support and training offered by the company to new franchisees.
Pizza People
Domino’s Pizza franchisee Mike Groves is an example of a businessman who used redundancy as an opportunity to take stock of his career and set up his own business.
Mike previously worked for Burger King for over 20 years, most recently as vice president and a member of the UK Management Board. Mike took redundancy following management changes in 2002. After six months out to consider his options, he decided to set up his own business by becoming a Domino’s franchisee.
“Redundancy gave me the opportunity to step out of corporate life and set up my own business, which was something I had always wanted to do,” explained Mike Groves. “I took the time to consider my options and review a number of different business ideas. I knew I didn’t want to get back on the treadmill of corporate life and while it was tempting to start a business from scratch, franchising with Domino’s Pizza presented me a great opportunity to have the satisfaction of running my own business but with the support of a worldwide brand with a consistent, successful track record.”
Mike opened his first Domino’s store in Worthing in 2003 and now has a further three in Hastings, Crosby and Manchester. He is already looking to open a number of new stores within the next few years.
Mike sums up: “Franchising can be an ideal opportunity for people like me who have been made redundant and are looking for a change of direction. It’s important to do your research fully first and choose a business that suits you but it can offer great rewards, as well as the satisfaction of being your own boss and driving your own career.”
Interested and want to know more about Domino's Pizza Franchise?
The Domino's Pizza Franchise profile outlines all aspects of their franchise opportunity and allows you to contact them for further information or to ask a question.
