Redundant F1 Employee Buys Auditel Franchise

A senior F1 employee has turned to cost-management franchise Auditel after the Williams team made him redundant.

Peter Harrison, who lives in Silverstone, Northamptonshire, a place synonomous with Formula One, explains his career move.

FS Blog: So, Peter, why franchising after the excitement of Formula One?

Peter Harrison: I really wanted the flexibility of being my own boss but had no previous experience of running a business, so franchising was the obvious choice in my case. I can concentrate on building my own business using a proven business model with ongoing help and support from the franchisor.

As there are so many to choose from I thought it was going to take forever, but Auditel quickly stood out from the crowd. I took an instant liking to their business proposition and was really impressed with the attitude of both head office and other franchisees.

FS Blog: So, tell us about your role in the Williams F1 team...

Peter: I was a Formula One race engineer, and worked with Honda, Jaguar and Williams teams over the last decade. I worked at the sharp end, directly with the race drivers, optimising car set-ups and race strategy.

I was also chief test engineer in my last role at Williams and responsible for all technical trackside test operations.

FS Blog: How did you raise the finance to buy an Auditel franchise?

Peter: I was fortunate enough to have enough savings to buy the franchise without borrowing.

FS Blog: What’s the training and support like?

Peter: First class from the start.

I recently completed my first residential course at head office. Afterwards, I felt much more confident about meeting prospective clients and presenting the Auditel business proposition.

Although working alone from home, I still receive the help and support I would expect from a large professional organisation.

FS Blog: Encountered many difficulties in changing careers?

Peter: It’s been extremely tough coming from a highly paid profession in which I had many years of experience. But I’m clear about my future goals and I know this will be a better way of achieving them.

On an everyday level I’m finding it quite difficult to manage my time efficiently. Everything is new and seems to take forever!

FS Blog: how’s your business going so far then?

Peter: I signed two clients in the first two days, although one was a close friend and the other my wife’s boss. But it was still a good feeling and they both genuinely understood the value of my service.

I’m now busy building relationships in my local business community and within the Auditel network.

FS Blog: What are your future goals?

Peter: My primary objective over the next two years is to build a successful business in order to provide the income I was accustomed to in my previous career.

Beyond that, my ultimate goals are to enjoy much more time with my family and to pursue my main hobbies of skiing, photography and classic cars.

FS Blog: Any advice for anyone considering buying a franchise?

Peter: Think carefully about your long-term objectives and why exactly you want to run your own business.

Also consider the level of ongoing support the franchisor offers beyond the initial training. You must be confident that the franchisor’s own objective is to build a successful franchise network rather than simply selling franchises.