Franchise Spotlight: Telecommunications
This is a sector that has been rapidly expanding! Find out more about what it takes to be a franchisee in Telecommunications!
One of the most profitable niches that an aspiring franchisor should consider investing in is the telecommunications industry. There are some key facts that show this is a profitable investment.
- As of 2017, UK’s communication industry was valued at £54.9 billion.
- At the end of the first quarter of 2018, there was a total of 2 million fixed broadband connections, which was a 0.6% increase compared to the previous year.
- Mobile phone services generated about £3.8 billion in retail revenues in the first quarter of 2018.
- Active mobile subscribers increased by 4% in the first quarter of 2018.
What is a telecommunications franchise?
Owning a telecommunications franchise gives you an opportunity to connect local businesses with long-distance clients and vendors in a number of ways.
While some businesses may need such services as video conferencing, others may prefer phone delivery systems. To deliver effective and efficient solutions, you will need to understand what type of businesses to target.
From wireless internet to smartphones, telecommunications has become the backbone of any enterprise. A telecommunications franchise plays a pivotal role in the success of businesses. Some of the most successful telecommunication franchises in the UK are; BT Group, EE, Orange, and Vodafone.
The era we live in relies to a huge extent on communication. As a telecommunications franchisee, you will be entering a partnership with a franchisor.
While the franchisor will provide you with the necessary support, resources and even the infrastructure, it will be your duty to make the franchise stand out as a brand. This will be achieved through the provision of effective communication strategies.
Why a telecommunication franchise?
There is practically no business today that can operate without the services offered by a telecommunications company. As well as this, the production of smartphones across the world has caused an unprecedented rise in phone and data usage. These rates continue growing with each year, and there have been no signs of slowing so far.
A lot of brands have come up and taken control of major telecom infrastructure throughout the United Kingdom.
This makes it almost impossible for aspiring entrepreneurs to break into the industry. Franchising is the most viable option as the initial investment cost a tiny fraction of what you would have paid to start your own telecom business.
Running telecommunications franchise
Before agreeing to the franchise partnership, perform comprehensive research on each of your potential partners. Online reviews and talking to current or past franchisees are credible ways of getting reliable information. You will need to look into such factors as:
- The franchise fees
- Your ability to make enough revenue such that you will still make a profit after deducting the franchise fees, the cost of operating and maintaining the telecom infrastructure, and the employees’ salaries.
- Previous track records and whether you can deduce a reasonable conclusion from them
As a telecoms franchisee, you will be involved in an industry which is not only scalable but is also people-driven. Thus, your success lies in your ability to rake in new customers and therefore realise more sales.
Your success will be influenced by engagement with your target community and your ability to thrive within it while you benefit from the support, tools, and resources from the franchisor.
As a telecommunications
You can also decide to set up your business at home or become a mobile franchisee and hence, use a van.
Advantages of telecom franchising
Through telecom franchising, you get an opportunity to venture into one of the industries with the highest earning potential at significantly low overhead costs. Also, you are freed of responsibilities that are beyond your control which enables you to focus on building and developing your telecoms sales team.
The telecom industry is quite dynamic. Most telecom franchisors provide their franchisees with ongoing tech, training, sales, and customer service support. This is also a way of improving your knowledge about the telecommunications industry.
This is an exciting and expanding sector with incredible opportunities. As a
If you are good at sales and managing a team, you will be able to become a successful franchisee in the telecommunications sector.