Buying a MOLLY MAID Franchise Secured my Future
Why did you want to start your own business? I was an employee all of my working life, but I knew I wanted to be in control of my destiny, be my own boss and have my own business at some point. Spring 2007 felt like the right time and after much research of options available I was launching MOLLY MAID Horsham in November of that year.
Why was MOLLY MAID right for you? The people! For me I have always worked on instinct and from the moment I met the team at MOLLY MAID I was made to feel like family. This coupled with a business model that clearly worked and having the most recognised brand in an industry made my decision easy and reassured me that this business was a long term prospect.
Did you have a long-term plan when you started the business? On day one of launching my business I had a clear exit strategy. That might sound strange but everyone who knows me, understands I am a very planned and methodical individual. I believe that in order to achieve your goals you need to have a plan in place. My plan has always been to grow sales to provide me with a good annual income and ultimately sell the business for in excess of £100,000 after 10 years. Both of which I’m pleased to say I have achieved.
What support has MOLLY MAID provided during your journey? Lots of support and guidance throughout my time as a Franchise Owner. The type of support differs depending on the individual, moral support has always been important for me and as an organisation they’re very good at acknowledging and rewarding achievements.
Have there been times when you questioned your decision and what helped you overcome them? There have been a couple of occasions when I thought ‘why did I do this’ but I think that’s natural. These moments have normally come at times when things are tough, like enquiries have slowed or dealing with staffing challenges. However, I quickly remind myself of the flexibility in lifestyle it brings and the profit I generate which quickly brings me back on track.
Have you earned the money you expected or needed from the business? Of course, the early years were all about building sales and investing back in the business. After that the business allowed me to make a good return each year which has helped the family sustain a comfortable lifestyle. The other big factor is business value each year I have grown sales I have increased the asset value of my business, which has now provided me with a significant lump sum having sold it.
What has been you biggest challenge? The staffing situation during the summer of 2016 was my toughest hurdle to overcome. Having solved that challenge my staffing has remained consistent. I have shifted my mindset to not see staff recruitment as a challenge, but rather an ongoing and integral part of the business.
What has been your biggest success? Two of my greatest successes have been selling the business for the amount I set out to achieve and secondly, growing sales in my business every year of trading. Along the way I have also won several awards at the MOLLY MAID convention, reached President Circle level, became part of the Franchise Advisory committee and achieved sales growth in my last year to win the travel incentive programme.
What is your favourite part about running MOLLY MAID? The freedom the business provides is without doubt my favourite aspect of running the business. The staff I’ve recruited and the culture I’ve created has been very satisfying. It is also rewarding to know we have a positive impact on many of our customers lives.
What tips would you provide for positioning your business for sale? Plan well in advance of when you want to sell, I always knew I would be selling after 10 years and was working towards it. Once you have that time frame in mind you can get organised to ensure files, accounts, stock, cars etc… are all in place. Most importantly once you have done that act like you are not selling and drive the business forward, this ensures the business presents as a great prospect for a potential purchaser and you can achieve the biggest return.
What three top tips would you give your younger self?
- Don’t worry so much – with a service and management business you are going to face challenges daily. Take the help that is available and follow the system, it really does work!
- Get more sleep – You must be able to step away from the business to come back refreshed and face those challenges head on. If you spend nights worrying you are only going to face those challenges with a tired mind and that probably wont deliver the best results.
- Travel loads – like the point above, but also to reward yourself, you work bloody hard and you deserve to take time to enjoy the effort you put in.