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Franchising your business

Franchising your business

To become a franchisor, you need to be more than financially successful. You also need a business model that enables others to repeat that success and transport it to different locations.

  • Systems are the essence of franchising
  • Your business needs to run on a series of precise, well-documented systems that can be easily followed by franchisees
  • Part of the appeal to franchisees is they don’t have to start from scratch
  • If your business is successful, chances are you’ve got efficient systems in place
  • Fine tune your systems and create manuals that are easy to follow
  • Stay flexible – if you discover a better way to do something, update your systems
  • When setting up your franchise system, establish a program that considers:
    • where your franchises will operate
    • product supply
    • training and support
    • fees and advertising levies
    • the legal agreement between yourself and franchisees
  • You’ll need the advice of professionals, including a solicitor with franchise experience, an accountant and your banker
  • If you’re working with a franchising consultant, they’ll also be able to offer you further insights

  • Poor franchisee choice and training are key reasons for franchises failing
  • Being a franchisee takes a lot of motivation and self-discipline
  • Look for people with the commitment to make the franchise work
  • If your system is simple to teach and easy to follow, a franchisee who is determined should acquire those skills very quickly
  • Once you’ve found the right franchisees, it’s essential you keep them happy
  • Provide ongoing support and resolve any issues quickly and openly

  • Your franchise needs constant attention
  • Make sure your franchisees have the support they need
  • Monitor their performance
  • Focus on the bottom line
  • Continue to develop your products or services and upgrade your systems when appropriate

  • Expert advice is invaluable
  • The Franchise Council of Australia can help you find an experienced franchising consultant

Keep reading

Leaving a business

Leaving a business

Doing your homework before a sale and creating an exit strategy can help you recoup what you’ve invested.

Learn more
Creating an exit strategy

Creating an exit strategy

You’ve worked hard to build your business but what will you do when the time comes to leave? The right exit strategy can help you realise the value you’ve built. 

Learn more
Selling your business

Selling your business

Selling your business is an opportunity to realise the value you’ve worked so hard to build, and to create long-lasting financial security.

Learn more

Related products

Our solutions such as Leo, powered by the Pi platform; Everyday Settlement; and NetBank or CommBiz, can change the way you manage money through your business.

Learn more

We develop tailored strategies to finance your dreams and let you plan for the future with confidence.

Learn more

Important information

As this advice has been prepared without considering your objectives, financial situation or needs, you should, before acting on the advice, consider its appropriateness to your circumstances. View our Financial Services Guide (PDF 59kb).

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