Find your perfect franchise

If you feel nervous about launching a start-up, the answer might be to strike a compromise: buy a franchise. You get the benefit of a ready-made business model and access to the nous of other franchisees, and the franchisor’s professional team.

Read more at the Sydney Morning Herald.

Franchise on the brink? Top tips to fight back

Congratulations: you bought a franchise. Now, in theory at least, you have the resources to compete with big business.

But suppose that your commercial marriage does not run to plan. Suppose you flounder and begin regretting investing in the $130 billion industry. Suppose you start fretting that you just might go bust.

Read more at the Sydney Morning Herald..


Five franchises under $100k

Australia is the world’s most franchised nation on a per-person basis, with three times as many franchises per head compared with the United States, IBISWorld research shows.

The appeal of a franchise is clear. On paper, investing in one brings you turnkey convenience twinned with recognition. Still, you need not bust the budget – the industry has its share of low-cost opportunities that could prove to be bargains if you are canny and lucky and you do your homework: the more the better.

Here, two industry insiders assess five proven low-cost franchises that it is possible to buy for under $100,000, and explain what you get for your money. Read at the Sydney Morning Herald..

 


Size up a franchise in seven easy steps

Australia is the world’s most franchised nation. It has three times more franchises per head compared with the United States, according to IBISWorld, which describes the $180 billion industry as “booming”.

If you are keen to join the boom by buying a franchise, you’d better be careful. A recent watchdog report found that some franchisors inflate potential income.

Here’s some expert intel on how to spot a legitimate franchise opportunity.

Read more at the Sydney Morning Herald..


Watchdog warns investors over income promises

THE consumer watchdog is urging would-be franchise buyers to watch out for inflated franchise-income claims. The warning follows complaints to the Australian Competition and Consumer Commission from franchise owners who say they were promised a minimum “guaranteed” income from their franchise but had earned little or nothing. Many complaints involved cleaning and home services.

”The ACCC is investigating whether a number of franchisors in this industry engaged in misleading or deceptive conduct by making claims about potential earnings,” acting ACCC chairman Michael Schaper said, adding the watchdog was particularly worried about franchisors targeting people from non-English speaking backgrounds. Read more at the Sydney Morning Herald..

www.smh.com.au/small-business/franchising/homework-key-for-franchise-buyers-20120715-2244k.html


Ten franchising traps to avoid at all costs

Thinking of buying a franchise? The good news is that franchises usually work, says three-time franchise owner Jane Lombard, now a franchise consultant.

“I am a huge advocate of franchising,” Lombard says, adding that she has only had positive experiences of franchise ownership.

But if you are looking to buy a franchise, she adds, take a long look at yourself. Decide what skills you already have, what skills you must learn and what franchise model will support your talent, she says.

Read more at the Sydney Morning Herald.

http://www.smh.com.au/small-business/franchising/ten-franchise-traps-to-avoid-at-all-costs-20120613-20936.html


Could you cut it as a franchise owner? The top 10 traits a franchisee needs

Franchising is a $128-billion-a-year business in Australia. Over a thousand franchise brands run across the country, covering every angle from coffee vending to in-home behavioural dog training.

On paper, because its structure has been road-tested, a franchise is a money-making machine. In theory, any dropkick can run one successfully – all anyone has to do is get on with it – execute, exploiting the turnkey convenience.

But running a franchise is hard. Almost a quarter of Australian franchise owners squabble with their parent company, often taking legal action, according to a Franchising Australia 2010 report. Find out what mindset you need to avoid bust-ups and make franchise ownership work for you. Above all, experts agree, stick with the programme – there’s a reason you never see yellow arches painted pink.

Read more at the Sydney Morning Herald..

http://www.smh.com.au/small-business/franchising/could-you-cut-it-as-a-franchise-owner-the-top-10-traits-a-franchisee-needs-20120503-1y14r.html