Franchising Services in Australia

Franchising Services

With the current economic conditions and uncertainty more and more people are opting to step out into business for themselves. One option for such an entrepreneur is buying a franchise or evaluating franchises for sale.

Advantages of Buying a Franchise

• Corporate image - Well established corporate image and brand equity.
• High brand awareness
• Potentially loyal consumer base
• Market reputation
• Training - Extensive training and support to the franchise owner from the franchisor.
• Success model - opportunity to exploit an already established success model vs. learning the ropes on your own.

In order to make the best choice for your next franchise opportunity you may want to consider hiring a franchise consultant.

Franchise consultants can assist you in picking the best franchise opportunities to meet your personal goals. Many entrepreneurs benefit by working with a directory of franchisors online.

Tips to Select the Right Franchise Consultant

When choosing a consultant there are a couple of things you may want to consider prior to your final selection

• Area of expertise: When looking for the right consultant, relevant experience is critical to a successful relationship. When short listing options, look for experience and past projects specific to the skills you are looking for.
• Qualifications and legal liability:
• You may want to assess the qualifications of the consultant. Specific expertise would be required in applying for the franchise and processing the permits needed.
• You should check to make sure the consultant is aware of all legally binding liabilities.
• Reference checks & membership:
• Check for referrals from people currently owning a franchise. They may have hired a franchise consultant before they started up the business. You may also want to check references from a renowned body such as international federations.
• Another quick way to check for references is to search on the Internet. List contact details of your internet search and schedule interviews with them.
• Work history and experiences:
• Don't forget to ask for a list of previous franchisees. It would be advisable to take the time to call them up and ask them about your choice of consultant.
• Table expectations
• During the pre-qualification discussion, make sure to relay what your goals and strengths are.
• Someone who can give you details regarding any franchise for sale based on your strengths and resources would be a good candidate to consider.
• RFQ - Request for Quotation
  Ask for a quote including details such as the various services he can provide, the timeline for the project, and the deliverables. This will enable you to assess
• How well the candidate has understood your objectives and strengths.
• Level of preparedness.

For some more advice on getting started with a franchise visit www.accc.gov.au/