Tag archive for ‘Franchise business’

4 Questions to Expect from Your Franchisor

by Admin - on Oct 4th 2018 - Comments Off on 4 Questions to Expect from Your Franchisor

Franchisor taking care of her businessSo you’ve seen a franchise opportunity that you like and made an inquiry about it. As you wait for the franchisor to give you a call, there are a few questions you need to prepare for. These questions are meant to find out whether you and your franchisor are a perfect fit before the both of you make any commitment.

What makes you interested in a franchise?

As a franchisee, you’ll be running a small outlet that operates under a much larger, complex structure. It’s important to understand the concept of franchising, as well as what you perceive to be its benefits. With this knowledge, it becomes easier for you and your franchisor to start on the right footing.

Why did you settle on this industry?

As you’ve probably found out during your research, there are lots of franchise opportunities in different sectors. Your franchisor will be interested in knowing why you’ve decided to choose a Transworld business advisors franchise, for instance. Is it because you have the passion for it? Or is your decision based on growth potential? You need to demonstrate the success drivers of the industry.

How much business experience do you possess?

Your franchisor will certainly provide some training to set you up for success in your new business. However, it’s important to some that you have industry-relevant experience. Having some sales and customer service experience, for instance, is a plus.

Where do you plan to open the business?

Many franchisors have site opportunities for potential franchisees, while some expect you to locate a site you think is viable. If you have a site in mind, expect that your franchisor will evaluate it keenly.

The conversation you have with a franchisor forms the basis of a potential long-term relationship. The best thing to do is to answer any questions as honestly and transparently as possible.

What Makes a Successful Franchise Business in Australia?

by Admin - on Aug 6th 2018 - Comments Off on What Makes a Successful Franchise Business in Australia?

Store franchises in an Australian business districtMost of us dream of quitting our jobs and become our own boss, and franchising serves as one way to achieve this, yet there are several important considerations.

If you’re looking for a vehicle wrap business for sale such as Signarama, it’s best to choose franchisor that can look for low-cost opportunities especially if you’re new to the scene. This is also perfect for those who are risk-averse and only want to try if franchising is a good fit for them.

Franchising Trouble

The general concept of buying a franchise in Australia is the same elsewhere; buying a franchise from an established brand is better. However, a long-time franchise doesn’t necessarily mean that it’s immune to financial troubles.

Take the Retail Food Group’s financial struggles as an example. The parent company of food chains Gloria Jeans, Brumbies Bakeries and Donut King has been in a so-called franchise shutdown, with around 200 stores that were reportedly closed in recent months.

Aspiring franchisees should also do their own research from analysing a company’s historical revenue, projected growth and even the number of store openings. For the investment limit, it’s best to spend below $30,000 for a potential venture.

Small Business Concepts

In case you want to start your own small business, you should consider some of the best ideas for this year. Online retail is unsurprisingly the best small business idea in 2018, especially since around 80 per cent of internet users in Australia bought something online in.

If more people set up their own virtual stores, then it would mean a greater demand for technology services. You could form a business that provides Internet and computer repair services.

Whether you plan to buy a franchise or start your own company, a business venture requires careful planning. How much are you willing to invest in a franchise or small business?