Once you have decided that Stroud Homes could be a good fit for your building franchise, you’ll be ready for these final steps to starting your franchise.
Video Transcript:
Sophie: So, James, it’s been a pleasure having a few meetings with you. You’ve talked me through the ins and outs of Stroud Homes, and how it all works. And I’m pleased to say we’re ready to go. We’re ready to sign up, and I really wanna know what happens now.
James: Some of the things that we would like to see you doing right now, to assess the opportunity for you and your family and your husband, is speaking to some of the other Stroud builders. We also do a thing called a Discovery Day. So, we like to come and travel around in the area where you’re hoping to become a Stroud builder, assess the competition, look for sales venues, see if there’s something that’s suitable, and also, we’ll start working on the business plan a little bit.
When you’re comfortable that you would like to move forward a little bit more, you put down a holding deposit for the area, which entitles you to a copy of the franchise agreement. When you get this franchise agreement, you take it to a solicitor that specialises in franchise agreements, and you get them to explain it. That’s a really important step. We wanna make sure that you understand what the agreement is all about.
Sophie: James, I’m still struggling a little bit around the idea of paying franchise fees.
James: We’ve had people who have started working with the suppliers, and found that the suppliers react quite positively when they find out that you’re gonna be systemising your business, and that you’re going to have quite a professional outfit running rather than just your typical, independent company.
Sophie: And I know it may take a little bit longer, and it may be a little bit of a bumpier road, but I still am struggling with the idea of, you know, not having that journey of creating my own business, and doing it on my own.
James: I think the 10-Year advantage is really important. It gets you to a point where you can start to use your creativity to do new designs and new house plans, and I think my wife and I really enjoyed it when we got to the point with our franchise business, where we could start to use our own creativity to create profits in the business.
Sophie: I guess what you’re saying, James, is then I would be better to be working on the business, not in the business?
James: Exactly. It’s still a journey. You still have all the excitement of building your business up.
Sophie: So, James, the more I sit down and have these meetings with you, the more comfortable I’m feeling, and the more assured I am is that this is the right decision for me. So, I’m keen to get things happening and move it to the next level.
James: Excellent. I’ll look forward to working with you.
More information:
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