Someone found the blog on the search term “I can’t afford to run my BSM franchise “. I can never understand why people get in such a state over this, because it is just a case of applying logic.
You need to be doing a certain number of hours of work to cover your business costs. If you aren’t getting the hours then you have to do something about it.
Option 1 is to get more pupils – call your franchise and explain.
Option 2 – which can also be used if Option 1 fails – is to get out of the franchise as soon as you can.
In the current economic climate absolutely no one can guarantee pupils. And quite frankly, if BSM (now part of the AA) can’t get them then it is going to be an uphill struggle for you to try and do it on your own.
It is also worth pointing out that there is no reason why you can’t try and generate your own pupils while you are with your franchise – i.e. while there is a still the safety net. That will give you an idea of what to expect if you cut the ties and went independent.
Remember the logic:
- you need to get work to pay the franchise
- if you don’t have the work, can you get it?
- if you can’t, could anyone else?
- how long can you withstand your expenses being greater than your income?
Continuing to lose money and not be able to afford to run your business is not a viable option. So it may be that getting out completely is the only way forward. No one can make you pay money you simply don’t have, so seek professional advice over any silly contracts you may have signed.
Be careful about listening to people who would blame this on BSM’s franchise fee and use it as “proof” that you should go independent. Logic, again:
- if BSM can’t supply work, what makes you think that you can?
- that’s especially true if you’ve already tried – and failed.
- what is it like in your area? Is everyone struggling?
You need to break the problem down into simpler ones – not turn it into ever more complicated puzzles.