When it comes to the two main types of franchisee locations – high street versus shopping centre – it’s vital to weigh up the pros and cons.
You need to get the foundations of franchising in place before you start looking for franchisees.
Unless you develop proper operations and training systems, becoming a franchisor can quickly turn into a legal and managerial nightmare.
As a franchisor, you are obligated under the Franchise Code of Conduct to provide your franchisees with detailed, up-to-date manuals.
There are a number of strategies you can use to attract new customers and develop regular customers.
It’s imperative you engage with a number of existing franchisees before you become one yourself.
Franchisee unrest should never be treated as the sole measure of a franchisor's competence.
If there is a need for franchisees to form an independent body, then I would suggest there has been a significant breakdown in communications.
To paraphrase the philosophy of McDonald's legend Ray Kroc, if you make them (franchisees) successful, then it will go to follow that we (franchisor) will be successful too.
The most important thing to consider when assessing a franchise from overseas is whether the franchise is being operated from Australia or not.
Being a franchisee involves being comfortable in conforming to set business policies and procedures initiated by others.
It pays to do your own due diligence when delving into the world of franchising.
We’re thinking of buying a franchise. Do franchisors usually demand lots of paperwork to be completed?
Operating a small business, whether it be a franchise or an independent business, requires the owner to constantly attend to paperwork.
The highest priority when considering any franchise and the contractual documentation is to engage the services of a solicitor who specialises in business law.
Buying into a business, whether a franchise or independent, will be the most personally challenging and life-changing decision they’ll ever make.