http://smallbusinessonlinecommunity.bankofamerica.com/community/forum/startingabusiness?view=discussions Most recent forum messages en Wed, 25 Mar 2009 23:57:02 GMT Clearspace 1.1.1 (http://jivesoftware.com/products/clearspace/) 2009-03-25T23:57:02Z en http://smallbusinessonlinecommunity.bankofamerica.com/thread.jspa?messageID=64772&amp;tstart=0#64772 Franchising in Australia has been embraced like no other country by<br /> a population of people looking to invest and obtain financial security.<br /> The franchise sector is growing at a rapid rate with over 1000<br /> franchises to choose from, the question is which one to choose.<br /> <br /> People<br /> have this image of being able to work when they want for as long as<br /> they want, be their own boss and be in total control, no worries. The<br /> reality is very different. You often work longer hours, are under more<br /> pressure and work life balance goes out the window.<br /> <br /> Franchising<br /> is often an attractive option for people that want to work for<br /> themselves. But if you are afraid of hard work, or think life as a<br /> franchisee is easy, then think again. Some people look at franchising<br /> the wrong way; they tend to think of buying a franchise as providing them a job.<br /> <br /> That's<br /> a dangerous attitude, definitely one way to get you into trouble. One<br /> of the biggest mistakes people make is they think they can run a<br /> franchise remotely, simply appoint a manager to open the doors and the<br /> business will run itself. That's a mistake and if I was investing money<br /> in a business I would be working hard to ensure it was a success.<br /> <br /> I've<br /> seen it plenty of times. You have two identical stores and one<br /> franchisee is involved in the business and the other isn't. You know<br /> which one is going to make money. You can run a business under<br /> management as long have you have regular input.<br /> <br /> This where the<br /> real value of having experienced franchisor support staff can benefit<br /> your business and avoid some of the mistakes in the first place.<br /> <br /> Before deciding on a franchise, I would consider the following points:<br /> <br /> <ul> <li>Is the franchisor going to assist with helping you find your franchise location?</li> <li>Are you going to have your own franchise territory?</li> </ul> <br /> This is a very important point as it helps protect your investment long-term.<br /> <ul> <li>Do they do lease negotiations?</li> <li>Are supplier contracts already set up?</li> <li>Do they have a detailed franchise operation manual with hands on operations support?</li> <li>After the initial training do you receive ongoing training from qualified people?</li> <li>Is there assistance with local store marketing and does the franchisor <br clear="all" /> support your business with corporate marketing initiatives?</li> <li>And more importantly are the people working for the franchisor experienced?</li> </ul> <br /> To sum up, you should do your homework and spend as much time as<br /> possible talking to your franchisor prior to making a commitment. Once<br /> you are confident you have chosen the right business opportunity for<br /> you, continue to listen to your franchisor, use their expertise and<br /> resources after all that is what they are there for.If you do your research you can have a successful franchise business with a good work life balance.<br /> <br /> Chris Hanlon General Manager Muzz Buzz Wed, 25 Mar 2009 23:57:02 GMT TopFranchise http://smallbusinessonlinecommunity.bankofamerica.com/thread.jspa?messageID=64772&amp;tstart=0#64772 2009-03-25T23:57:02Z Mar 25, 2009 7:57 PM