Buying A Franchise
Buying a franchise is a great way to get into business, although it can be overwhelming.
According to FranchiseED, the total annual sales revenue for Australia’s entire franchising sector was $146 billion in 2016, which is up from $144 billion in 2014.
However, recent economic landscapes have lead to the downfall of some franchising models such as Caltex and Yogurtland. A popular franchiser Retail Food Group, which owns Gloria Jeans and Donut King among others, blames competition, rising overheads and increasing labour costs for franchising failures.
So, is franchising right for you?
In our experience, clients wanting to buy franchises have questions about a variety of topics such as:
• What are the benefits of franchising?
• Is my business viable for franchising?
• What are the risks associated?
• Will I be able to repay the loan?
Our experienced franchising team can help advise, guide and mentor you through the set up and management of your franchise. Our pre-emptive financial review will answer these questions for you, giving you the peace of mind, you need to begin or continue your franchising journey.
When to contact us
The best time to contact us is any point where you feel you need advice. Our team is experienced in each step of the franchising journey and can help to point you in the right direction.
Even if you are unsure about possibly buying a franchise in the future – come and see us. We can help you to weigh up the advantages and disadvantages of franchising. We will aid you in discussing your strengths and weaknesses. You may even just need to discuss your ideas with someone to then be able to make a final choice on your own.
Once all the preliminary issues are discussed, we will then conduct the pre-emptive financial review, in which the viability of your business is examined. For a more efficient review, it is best if you bring along your financial information so that we can prepare an accurate viability report.
What we will discuss
Our meetings are flexible and will change depending on what suits you. Some topics we can cover include:
- If franchising is right for you
• Costs associated with franchising
• Different types of franchises
• Advice on different franchise options
• Franchising due diligence
• Business management ideas and strategies for day-to-day management
• Discussion of loan and other financing options
• Competitors and other threats to success
- Pre-emptive financial review assesses whether your business is viable for franchising.
• Prepare and structure your franchising network including preparation of commercial documents complying with the Federal Government Mandatory Code of Conduct under the Competition and Consumer Act 2010.
• Screen and recommend suitable franchise buyers to franchisor clients
• Business strategy advice, planning and implementation
• Initial and ongoing human resource training
• Financial budgets, sales reporting, plans and cashflow management
• Business mentoring, coaching and change management
Contact us now to begin your franchise journey!
You can call us on (02) 4933 6888 to organise an appointment, or alternatively you can contact us here