Posted by Elizabeth Gore-Jones
on 16 February 2015
Surprisingly, Australia is one of the most franchised nations in the World.
With Australians embracing franchising so much, potential franchisees are spoilt for choice.
So, how do you choose the franchise system to invest in?
Below is a checklist of some of the matters potential franchisees should be considering in their decision making process.
1. Self-Audit
Firstly, a potential franchisee should assess whether they are made to be franchisees.
Generally speaking a ...
Posted by Elizabeth Gore-Jones
on 12 February 2015
This is a list of some considerations in determining if your business can be franchised:
1. How old is the business?
A rule of thumb is that the business should be operating for at least 3 years before it is franchised.
Whilst this is not set in stone, it does allow for the business owner to:
(a) determine if the business is a success;
(b) determine if the business earns sufficient money;
(c) make alot of mistakes in operating the business and find solutions for those mis...
Posted by Elizabeth Gore-Jones
on 11 February 2015
We once acted for a franchisor who had a franchisee with unpaid royalties of about $7,000.
No big deal right?
The franchisor's attitude was one of annoyance but it did not want to take action to pursue the debt and the issue festered beneath the surface for the best part of a year. That is, until the franchisee had negotiated extraordinarily favourable lease terms for a new premises located within a highly sought after retail precinct.
Then, all of a sudden, the...
