From non-tech to tech success: investing in a tech franchise is not just for experts
Posted on 4th September 2023 at 07:19
To an entrepreneur entering the business world, it might seem at first glance that only tech experts should consider heading up a tech franchise. But in reality, leaders like Steve Jobs have created billion-dollar enterprises without formal tech education. Tech-based franchises are unique because they sell digital products, services or experiences, but at their core, they function similarly to businesses in other industries. Every business aims to sell something, whether an app, service or physical goods. It is not mandatory to possess an intricate understanding of the technical aspects of this product to lead a business that sells it effectively. If you are a business-minded leader equipped to cultivate business growth, you can thrive within a tech franchise even without an extensive tech background.
At Code Ninjas, many franchisees have achieved remarkable success despite lacking extensive tech backgrounds, thanks to the transferable skills enabling them to build prosperous businesses. Here, acting CEO David Kim sheds light on how entrepreneurs from diverse backgrounds can attain long-term success by investing in a tech franchise and speaks to two franchisees who have done just that.
When searching for employment opportunities, it is common to come across job requirements that emphasise the need for industry-specific experience or, at the very least, a strong familiarity with the sector. However, when contemplating the potential of owning a franchise business, how much should you limit your considerations to industries in which you already have experience? What level of risk is involved in venturing into a sector that you are not particularly knowledgeable about?
Steve Wozniak, the technical partner and co-founder of Apple with Steve Jobs, revealed that Jobs did not possess coding or engineering skills and was not involved in original design work. Nevertheless, a lack of engineering skills and coding knowledge did not interrupt Jobs’ road to success. Instead, his exceptional business and sales acumen played a pivotal role in transforming Apple into the iconic brand it is today, proving formal tech education is not always a prerequisite for success in a tech-led business.
In franchising, what holds more significance in many cases are the transferable skills you have cultivated throughout your career, regardless of the specific sectors in which you acquired them. Exploring an entirely new industry, free from preconceived notions, can offer its own benefits. An "outsider" perspective often brings a fresh and unique outlook. When venturing into the world of franchising, extensive training and support is typically provided to help you establish yourself. In most cases, your enthusiasm to learn about the industry far outweighs your initial familiarity with the sector.
If you aspire to enter the tech industry but lack the necessary expertise to comprehend its intricacies fully, consider finding a tech franchise that can bridge your knowledge gap. Before deciding, conducting comprehensive research to identify a tech franchise that aligns best with your specific needs and goals is essential. Take the time to assess various options, considering factors such as the franchise's track record, reputation and success rate and if it complements your skills, interests and strengths. By doing so, you can leverage your existing abilities while benefiting from the specialised knowledge and resources the franchise system provides, enhancing your chances of success while contributing to your overall job satisfaction and fulfilment.
Franchisees Sangita and Alok Pandey, owners of Code Ninjas Putney, and daughter and studio manager Shivantika have all used their transferrable skills from previous careers to equip children with the skills needed to excel in a digital world.
“We combined our experience in media liaison, business operations, finance and diversity to launch our coding studio as a family,” said Shivantika. “Equipping children with the skills needed to excel in a digital world is something all three of us are so passionate about – my parents set me up with the best start in life and that’s something they’re keen to share with children across our region.”
In addition to researching the specific franchise opportunity, conducting comprehensive industry research is crucial if you have limited prior experience in the field. Start by immersing yourself in a thorough understanding of your target demographic, ensuring that you offer precisely what they need within your local area. To validate your business concept, look for tangible evidence of product demand, such as user numbers and testimonials from existing franchisees operating in territories with similar demographics to your proposed location.
It goes without saying that you need to be passionate about the service you are offering, but this does not mean you have to be an expert in it. What truly matters is having a solid understanding of its benefits and being passionate about the value it brings to your customers. For Code Ninjas’ franchisees, their passion lies in providing children with opportunities to gain essential life skills through coding education. While they may not be coding experts themselves, they possess a deep understanding of the immense advantages that coding education can provide to young learners, and their commitment stems from recognising the positive impact it can have on their futures.
Taz and Haroon Latif, franchisees and owners of Code Ninjas Uxbridge, were struggling to find suitable activity centres to feed their children’s interests in gaming. Their solution? Opening a coding studio with a focus on improving kids’ self-efficacy in a fun and engaging way.
“I prefer to take a back seat in the technology world and instead want to focus on encouraging kids who may be excelling academically but not socially,” explained Taz. “I want to provide them with an exciting environment where they feel they can enjoy themselves freely and explore their love of gaming. The trustworthy name and evident success of Code Ninjas give me the tools and confidence to do this.”
If you have a passion for the tech industry but lack a formal tech background, you are not alone. Breaking into the industry can be achieved in various ways and tech franchises are often open to providing on-the-job training for suitable candidates. Many franchises seek individuals with exceptional business acumen, marketing prowess and strong interpersonal skills. Regardless of your experience, concentrate on the unique value you can contribute to the franchise. As you navigate your options, you will eventually discover the perfect match for your passion and skills, enabling you to realise your fullest potential.
For more information about investment opportunities with Code Ninjas, please click on the link below.
Share this post: