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