After losing his job three times in 15 years, Mike Smart decided to start his own business.
A friend suggested a franchise, and Smart set about reading and researching. He found "professional" franchises a better fit for his skills rather than service or retail-based one.
He chose Expense Reduction Analysts,a business that helps other firms reduce their costs. "The clincher was that I felt in a depressed market, offering opportunities to reduce costs was a good value proposition."
Mike finds a big difference is that he now has to do everything, from administration to sales.
"There's no one to empty the post box."
Working from home has also had its challenges: "If you're a gregarious type of person who needs company, you might find it hard."
For others considering a franchise, he says they should make absolutely sure they understand the business before buying in - and that they have enough working capital behind them.
