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Franchiser says businesses 'must adapt' to remain on top

 
Mar 25 2008

Small businesses that see their profits fall or are not expanding as they hope to should adapt and consider moving into other product areas, advises businessman Naz Daud in the Franchise Shop.

Firms which employ just a few members of staff can be 'nimble' and the modern business world has changed from 'survival of the fittest' to 'survival of the quickest' he says.

He describes small businesses' adaptability as the 'biggest weapon' available in the fight against larger firms.

Exploiting a new niche in the market can have the potential for large rewards, Daud says.

'The slow footed large companies will eventually follow you but it will take them time to catch up,' he adds.

Duad runs Citylocal, a franchise which provides a directory of local businesses.

He claims that starting a franchise can improve people's health by enabling them to work from home and reduce stress.

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