STARTING A FRANCHISE IN AUSTRALIA - ALL YOU NEED TO KNOW

Planning to buy a franchise in Australia? Or, looking for franchising your current business? 

Then, it’s the right time to consider either of the options. Time has come to become your own boss; all you need to decide is whether to be a franchisee or a franchisor. As now you can build a national brand for a specific product or service and achieve higher business growth through franchising than self-funding.

Did you know, “Australia has three times more franchise outlets per capita in comparison to the US, with 79,000 franchised outlets which rake in a combined annual turnover of more than $146 billion and collectively employ 470,000 people?” Among the fastest growing industries in Australia, franchising represents 4% of the country’s economy.

Pre-Requisites
Franchising in Australia is regulated by the Franchising Code of Conduct. Setting up a franchise involves legal process, thus, it is advisable to consult a business adviser or solicitor to know the core fundamentals of this business. Moreover, to run a business in Australia, it is mandatory to have an Australian Business Number (ABN) and a GST registration for your business.

Benefits of Franchising
Before you start searching for franchise opportunities in Australia, let’s explore the benefits of setting up a franchise in Australia:
  • ·         Make your own brand or get associated with an established brand
  • ·         Develop business capital
  • ·         Avail big bargains from suppliers
  • ·         Decreased overhead costs
  • ·         Earn profits through franchise capital
  • ·         Get hands on free business & management training along with advertising and marketing support
  • ·         Get full-time assistance with lease negotiations, brand website, buying equipments, shop fit outs, etc.

Drawbacks of Franchising
  • ·         No autonomy in key business decisions
  • ·         Restricted area of business operation
  • ·         Unavoidable operation fees to be paid to the franchisor
  • ·         In the end, Goodwill lies with the franchisor

DANGER ZONE
Every business has its pros and cons. The rise of franchise business in the country has given rise to franchise scams as well. So, it is important to protect yourself from being a victim of the fraud or scam. Keep yourself updated with all the information you need, and follow the below steps while investing in a franchising business:
  • ·         Explore the historical financial information of the business. If the business has no trading history, it's better to trust your instincts and be cautious. Think it over before entering into such a business.
  • ·         Never ever sign a franchise agreement with franchisors in case disclosure document do not comply with the Franchising Code of Conduct obligations.
  • ·         Be wary if franchisor does not provide you 'cooling-off' period. Franchisees are now provided with a 'cooling-off' period that you can opt for within seven days executing the franchise agreement or paying the franchisor a fee. This 7-day period entitles you to get the refund of payments made.
  • ·         Be alert if franchisor forces you to sign the franchise related documents before the 14-day disclosure period.
  • ·         Always get the franchise proposal screened by a business adviser or lawyer in order to identify potential risks related to the business and narrow down the chances of being scammed.

Key Businesses To Invest In....
Have you always dream of running a food chain or a retail chain business? So, are you looking to buy a franchise of businesses operating in food, retail or business services industry? With thousands of franchised brands to choose from in Australia, let’s explore the following ‘finance-ready’ franchise chains in Australia:
  1. 7-Eleven
  2. Athlete’s Foot
  3.  Bakers Delight
  4.  Boost Juice
  5. Brazilian Butterfly
  6.   Carl’s Jr
  7. Cirillo Lighting and Ceramics
  8. Clark Rubber
  9. Domino’s Pizza / Pizza Hut
  10. Donut King
  11. GJ Gardner Homes
  12. Hungry Jack’s
  13. Inxpress
  14.  Jamaica Blue
  15. KFC / McDonald’s
  16. Mailplus
  17. Poolwerx
  18. Refresh Renovations
  19. Quest Apartment Hotels
  20. Subway

And the list goes on. With multiple leading accreditation, the above mentioned businesses offer improved finance access to franchisees and demonstrate transparency by providing all requisite information to franchise lenders. There are many more names to this list.

If you have plans to start your own franchise business in Australia, choose Business2Sell – a team of professionals you can rely on to make your dream come true.


Comments

Post a Comment

Popular posts from this blog

SACHIN TENDULKAR

Born on 24 April 1973- Sachin Ramesh Tendulkar was named after the renowned favourite music director Sachin Dev Burman. Sachin was encouraged to play cricket by his elder brother, Ajit Tendulkar. Sachin showed signs of greatness early on in life. While at school, he teamed up with Vinod Kambli for an unbroken 664-run partnership in a Harris Shield game in 1988. His international career took off in 1989 when he played his first international match against Pakistan in Karachi in 1989. He went on to become the leading run-scorer in the 1996 Cricket World Cup. This little master has the hopes of an entire country resting on his shoulders everytime he goes in to the field. Sachin holds a plethora of records to his name. He has scored the highest number of Test centuries as well as ODI(One-day International)centuries, the highest number of runs in ODI's, played the most number of ODIs (380), has won the highest number of Man of the Match awards, besides being the first cricketer and fa
Read more

ODISHA - SCENIC. SERENE. SUBLIME.

Image
Did you know a Red Crab is eagerly waiting to receive you at Talasari Beach in Odhisa? A charming land of beauty and heritage Odhisa is bursting with art and culture. With every region donning a different hue, there is a lot to explore in this city - a hub of Art and Culture. Odhisa has many diverse offerings in store, right from the elegant Odissi dance to the delectable Oriya cuisine. Let's explore: Depicting the enchanting love stories of Radha and Krishna, the Odissi dance may be a difficult style to execute, but the grace with which it is performed is awe-inspiring. Typically containing a poem or two of eight couplets from Jayadeva's Gita Govindam, this dance is  incredibly lyrical. A companion of Odissi dance, Odissi music is classified under the Udramagadhi form of Indian music. Rising from a rich legacy, Odissi songs date back to 2nd century BC, long before Oriya language was even developed. With a distinctive style of rendition, the tempo of Odiss
Read more

LET US BREATHE THIS DIWALI!

Alarm Tick Off - 4:30 AM. Wake Up Call - 4:45 AM Time To Exhilarate / Warm-Up- 5:00 AM As I step out of my house to breathe in and breathe out the fresh morning air, I only get to inhale and exhale the smoky air. While jogging in the park surrounded by variety of plants and trees, I couldn't smell that natural fragrance that I cherished / embraced daily. Only I could feel was smoke. And, this justifies that Diwali is Here. Or, may be Winter is Here! Diwali - a festival that brings joy and happiness in our lives but as human beings have we ever done justice to this day. Every year with the onset of Autumn, we also welcome the air pollution in our so-called eco-friendly environment. And ever given a thought who the key culprits are? Yes, like always we will blame the crop burning that takes place during fall and bursting of fire crackers during Diwali.  It's High time; let's stop the blame game. WE - the gifted human race - are the real culprits. We only talk abou
Read more