If you currently own a great business and have thought about growth thru franchising then we encourage you to contact our team.   Many well-known brands such as McDonalds, Domino’s Pizza,  Gloria Jeans etc have used franchising to help fund and accelerate their growth from local businesses into leading national and international brands.

Australia is the most-franchised nation (per head of population) in the world; this means that awareness to franchising is at an all time high. Many individuals and organisations with existing businesses therefore see franchising as a preferred way to expand their business.

Australia also has some of the world’s most stringent franchising legislation which means there is little or no margin for error for “new” franchisors. Consider the following to understand if your business can be franchised.

To work out if your business is franchise worthy, consider the following:

• Credible – your concept should be proven or at least have a strong business plan behind it with a sound basis of information. You need a strong team behind it and be well funded to deliver your commitments to your franchisees. .
• Profitable – you should only franchise if you are replicating an already successful business model. There needs to be a strong financial basis underpinning your offer.
• Unique – There needs to be some point of difference between what you offer and the competition. This will form the basis of effectively competing in the marketplace.
• Teachable and Transferable – you need to have a business where the systems, procedures, expertise, skills and know-how can be tought and transferred to others.
• Franchise support – you must be in a position to assist your franchisees with upfront and ongoing support.
• Achieveable investment levels –can applicants afford to invest in your business opportunity or is it out of reach for most.
• Bankable: If banks do not support your business model then this will dramatically reduce your growth prospects.

What professional advice should you seek?

Franchise consultant – choose franchise consultant with a verifiable track history in growing brands. They will be able to implement a program of industry best practice in establishing and then growing your brand.

Accountant – a good commercial accountant can assist  you with your financial planning, including your business plans .

Solicitors – use a specialist franchise solicitor to assist you in establishing your franchise trading structure and necessary disclosure document and franchise agreement. The franchise Council of Australia is a good source of such professional or contact us for more information.