How are you feeling about the current situation, when it comes to thinking – or dreaming?! – about starting your own business? There’s no denying these are very unsettling times for everyone.

And we’re no different. On one hand, there’s doom and gloom every time we switch on the news, with inflation at a high, staff shortages, utility hikes, and suppliers increasing prices. But on the other hand, The Wheel Specialist Bristol, recently had a record-breaking month. 

In the year leading up to the UK’s last recession, we’d launched five new franchisees’ businesses who suddenly, within their first year, were facing the challenges a recession brings. They needed, and could rely on our firm reassurances to guide them through the hits. 

One franchisee, Jon King, actually joined The Wheel Specialist right in the middle of it, opening TWS Cardiff in March 2010!

“When I came across The Wheel Specialist, I thought it would be a nice little adventure to take on; and actually opened during the recession. It was difficult as we were starting a new business from scratch. The Wheel Specialist back then was still relatively new as a franchise. But, I’d joined a supportive group, and with the CRM and the marketing TWS had in place, it wasn’t long before, business came through the door.” 

But how is TWS recession proof? 

Looking at the longevity of our model – we’ve been in operation since 1955 – we know from experience people don’t buy new when times are tough. Current data around new car sales in the UK, show a repeat of this trend in the first half of this year, as they’ve have dropped the equivalent of 2.8% on 2021 (according to the Society of Motor Manufacturers and Traders). Any slump in new car sales can be an indication of an impending recession. 

So, how we are supporting our franchise network:

Looking back at the lessons we learnt we’re already preparing our network for what is potentially on the economic horizon: 

1.     Strengthening our marketing. A careful marketing spend, and the right message, can have a positive impact on sales. So, we’ve increased marketing spending, and adapted our messaging for the current situation, so our franchisees don’t have to worry about it.
 

2.     Increasing value for customers. Customers increasingly look for the best value for their money; a combination of cost, quality and sustainability. A Jon says, “People don’t always go for the cheapest, they go for the best option for their cars. At TWS, we’re set apart from our competition because of the quality we deliver. I enjoy delivering something which puts a smile on our customers’ faces. And these days, we could all do with more of that!”
 

3.     Stay ahead of market trends, and understand customers’ needs. In doing this, we ensure our products and services fit their requirements. At TWS, we have two very different target markets: trade and public, as well as additional revenue streams. So, when you join the network, you’ll be able to tailor your services to each market’s requirement, and won’t be dependent on just one income source. 

At Head Office we’re committed to supporting you to grow your new business alongside our current franchisees. As Jon says about the benefit of franchising, 

“When you have a franchise behind you, you have people to listen to you about the problems you face, offering you advice and help – you really need this as a business owner. There’s so much you learn and need to do, so having the support of the Head Office is invaluable – especially if you’ve never owned a business before.”