Business Franchising

April 1, 2019

Buying a Franchise

If you’re looking to start a business, buying into a franchise can be a good alternative to starting a unique venture. Similarly, if you’re planning to expand your business, a well managed franchising agreement can be an effective way of moving into new markets. Franchising allows one business to operate under the trading name of another business’ established brand and sell its products and/or services for a specified period. Like any business decision, franchising must be considered carefully and the right processes should be followed. It’s important to also note that franchising is regulated by the Franchising Code of Conduct. Consider consulting a business adviser, accountant or solicitor for advice before deciding whether to buy a franchise or franchise your […]
January 3, 2019

Buying a Franchise

In Australia today there is a franchise operating in almost every type of business category, with varying levels of complexity and cost. Prior to buying a franchise, potential franchisees should do the following; Assess your own reasons for wanting to own a business; Assess the lifestyle and income implications of owning and operating a business; Assess the franchise opportunities consistent with 1 and 2 above. Build your understanding of the franchise relationship by reading the Franchise Guide. Narrow your franchise search to a few systems, then request further information. If appropriate, and you are comfortable with the decision, select a system and commence the application process. Ensure you have adequate borrowing capacity, including working capital, to successfully establish this type […]