If you’re thinking of buying a franchise, don’t let either Brexit or a general election hold you back!

We’re all pretty fed up with it, but Brexit rumbles on, and now we have the added complication of an election in December. No matter what your stance on Brexit is, there seems to have been a tendency by a lot of entrepreneurs and businesses, to put decisions on hold while we wait for greater clarity. But is that really the right thing to do?

If you’re thinking of setting up a business that relies heavily on EU exports, imports or trade relations, then you’re probably right to be cautious.  In fact, for a number of businesses who buy parts from the EU or have EU trade relations of some sort, there is reason to think twice.

Totally British business

But not every UK business will be negatively affected by Brexit. In fact, some UK based businesses will probably benefit from Brexit and a MagiKats franchise is one of them. Here’s why:  

1.       The education sector is one of the most resilient. We blogged recently about the increased demand for private tuition. It’s been a major growth industry for nearly two decades and when the last recession hit, the demand only increased.

The bottom line is that school class sizes are too big, pressure to get a place in the best schools is enormous (whether that’s private, grammar or state) and competition to get places at university or a good job after school is tough. This is not going to change as a result of Brexit or at any time soon. If anything, with our schools still bending under the pressure they’re under, demand for affordable private tuition is only going to continue to grow at a pace.

2.       If all your suppliers and all your clients are based in the UK, then you’re in a stronger position both now and in the future than those businesses who are reliant on trade or suppliers overseas.

At MagiKats we are 100% British “born and bred”. We don’t rely on any EU suppliers, we don’t hold data in the EU, we’re not affected by intellectual property regulations in the EU and our students and their families are all based in the UK.  In short, we are entirely independent of the EU. Of all the business opportunities out there, MagiKats sits in an almost uniquely strong position.

3.       Sooner or later Brexit will be resolved (one way or another), and we will have a new government, but what if all that means we don’t leave the EU after all? We don’t pretend to be able to predict what’s going to happen, but one of the side effects of Brexit has been that people have started thinking about keeping it “local”. Community spirit and a determination to support local businesses definitely seems to be on the increase which makes a locally based business, designed to support the community a strong player!

4.       And if we leave the EU, entrepreneurs will start looking for strong and solid UK based opportunities. We think that represents a really exciting opportunity for our franchisees. But wouldn’t it be nice to be ahead of that curve?

So, if you are thinking of starting your own business, or buying a franchise, don’t let Brexit throw you off track! Don’t ignore the fact that some businesses will actually be better off whether it’s a case of leave, remain or no deal!