Speculate to Accumulate?

Richard Jefferson, Betterclean Franchisee since 03/2020

Starting with the positives from today, I have just been reconciling bank accounts and seeing payments of invoices and a healthy profit, finishing the day feeling secure that business is going well, and it has been worth the hard work. The rest of the day was a whirlwind, but that is a combination of the challenges of managing large teams of people, the problems of COVID and other sickness and absence, and our own fault in being successful in winning new contracts. We are excited to have two new schools starting this summer, as well as having just been awarded the contract for a new office facility. To prepare these sites with staff, stock and to complete the admin, will bring us a busy August.

After purchasing a resale, this has put me further along the curve than new franchisees might find themselves, both in terms of customers but also in the maturity of my supporting team. I have built my team steadily over the last 18 months adding people with what I thought were the right skills at the right time. Having people with enthusiasm, adaptability, and a desire to develop are all key. Whatever stage of the journey you are on, the balancing of your overheads with your income is a bit of a tightrope to walk as ultimately you need to understand how taking money out of the business for yourself can constrain your growth, but then don’t we all do this to make money for ourselves. It is important to work out what you can afford to spend on growing and how aggressive you want to be.

There is lots of work out there and building a reputation for great service is key.

Being part of a franchise like Betterclean gives you a shortcut on many of the tasks and things that underpin our businesses, this again allows quicker scaling. I am currently 2 from 2 on the opportunity development service they offer which is providing a great marketing route. Betterclean can help on the journey, and not just the central team but the wider network including myself who are all keen to share ideas and opportunities, but ultimately there are plenty of tough decisions to make. Speculate to accumulate – you have to at some point.