Muffin Break and Eagle Boys: two young franchisees
As the youngest Eagle Boys Pizza franchisee 20 year old Joseph Palmer is one such young enthusiast. "Franchising is the answer as it makes owning your own business less risky and more accessible," Joseph said. "With a take away franchise like this you have the expertise of a proven concept and brand behind you with all the benefits of training, regular support and reliable systems. "When you get started in business early you have the time to make mistakes and learn from them. You also generally don't have any other commitments in your life and have more energy to work long hours to establish your business.
"University or TAFE courses aren't for everyone and many young people find themselves wondering if they've studied the right thing. If I had continued studying a diploma of financial planning it would have taken me years to find a job or establish a business that would give me the opportunity I have now."
For the past four years Joseph hasworked his way up the hospitality career ladder, starting out as an employee at another fast food franchise chain before becoming the manager and then owner of the Eagle Boys Pizza store in Fairfield.
Before committing to the franchise Joseph researched the system and the pros and cons. "The main external advice was from my accountant and solicitor," he says. With his experience at the franchise under his belt the and 60 hours in the store, however with the new store ci I have stepped into more of a role which requires around 15 the store training and giving fE the management team. Joseph made an early decisionbank was able to loan 100% of the loan against the store, which meant he did not have to provide personal security.
"I am now in the process of purchasing my second store so I am taking on a different role in the business. As a single store operator I would work between 40 and 60 hours in the store, however with the new store ci I have stepped into more of a role which requires around 15 the store training and giving fE the management team.
Joseph made an early decision to become his own boss after talking to his parent's friends who owned businesses. "I've been planning to own my own business since I was 15 after discovering that it was a great way to be successful in life and have a balanced lifestyle."
However it isn't a view shared by all his friends. "Most of my friends think I'm a little crazy for getting into high amounts of debt at such a young age, but I think they will start seeing the benefits in a couple of years.
"I plan to spend a minimum of the next five years in Eagle Boys building sales and expanding in store numbers, long term I would like to own a business in the finance industry."
Another livewire, Jaclyn Connelly, is owner and manager of Muffin Break Franchise Council of Australia is a not for profit membership organisation that is the peak body representing the franchising sector in Australia.
06.06.2008
FCA Member
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