Franchises - Good or Bad Idea?

jon_E_begood

Hi,

Looking into possibility of taking on a franchise but looking for soemthing I can run alongside my day job to begin with. Has anyone had any good or bad experiences? Any recommendations? General advice?

I've come across this company - http://www.yourownmagazine.co.uk - has anyone any knowledge/experience of them?

Thanks

Jon

Slinky

I run a local magazine, I'm not a franchisee so I don't pay any of my profits to anybody else. It's hard work, I do it full time, but it does make decent money (2 years in). I know people who make a few hundred doing it part time but it really isn't the road to riches your initial website suggests.

For a warts and all account of the magazine production business give the lady who runs this a call https://www.first-issue.co.uk There is a one off fee and the rest of the money is your own.

jon_E_begood

Slinky wrote:

I run a local magazine, I'm not a franchisee so I don't pay any of my profits to anybody else. It's hard work, I do it full time, but it does make decent money (2 years in). I know people who make a few hundred doing it part time but it really isn't the road to riches your initial website suggests.

For a warts and all account of the magazine production business give the lady who runs this a call https://www.first-issue.co.uk There is a one off fee and the rest of the money is your own.

Thanks. I've had a look at the website and sounds interesting but its still nearly £3k start up which is a lot to risk. Also i would be looking to do it part time on top of my day job. How long did it take you to cover the initial outlaand how long do you think it would take me on a prt time basis - 2-3 hrs per day? Aren't there additional costs in printing and distribution etc? Ideally it would be greta if i could start p/t and build it up so one day i could go f/t and quit the day job - realistic??

Slinky

I covered my initial outlay in the first few weeks, but I'm afraid it's very much a situation of you get out what you put in. I wouldn't take it on part time personally. Is your day job sales related? If you hate cold calling, it will always be a struggle - very little new business comes to me directly, I have to go and find most of it for myself even after 2 years.

Yes there are print and distribution costs, also postage, telephone, stationery, petrol. Can't answer the start part time build slowly quit the day job route as I've no idea how much you need to earn for that to be a reality.

A lot of people start these magazines, with or without the support of a packaged system thinking it looks like easy money and the road to riches. Many fall by the wayside. It isn't easy but there is good money to be made, but bear in mind I sometimes work a 60+ hour week to put the magazine together. You have to really want to do it.

MORPH3US

OP,

if you want to go the magazine route, as above, the only way you will make money (assuming the magazine is free) is from advertising in the magazine. This will take a LOT of sales (i.e. cold calling).

Another thing to keep in mind, if your day job is 9 - 5, how will you sell advertising outside those hours when no one will be in work to speak to you?!?!