Franchise Advice

Advice

What is franchising?

According to the text books, franchising is a form of business organisation in which a company which already has a successful product or service (the franchisor) enters into a continuing contractual relationship with other businesses (franchisees) operating under the franchisors trade name and with the franchisors advice and guidance, in exchange for a fee.
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What are the benefits?

Becoming a franchisee can offer many benefits over starting a business on your own, but not all franchises offer all the benefits. Among those that you should be looking for are:

Strong brand. Is the brand name and logo well known to target customers?

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There are so many opportunities, how can I decide on the one that is right for me?

It is very important to establish some basic criteria to help you short-list franchise opportunities. These criteria should include things like:

How much money can you invest?

What personal income do you require from the franchise?

Anything else I should consider?

Some further tips based on our experience working with franchisees:

Do involve your spouse or partner from an early stage in your decision to become a franchisee. They will be an important part of your business and should be involved from the earliest possible stage.

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