Mason Sier Turnbull's advice on starting a franchise
The first step is to make sure that your proposed business activity lends itself to franchising and can be easily replicated by your prospective franchisees. This is best done by documenting your business processes to ensure that they can easily be followed by the franchisees you eventually appoint. You also need to ensure that you will have enough initial and working capital to get the business to the point where it can be franchised.
The people you’ll be hoping to attract as franchisees will want to know a great deal about your plans and aspirations. They may be impressed by your enthusiasm and your grand idea but they’ll also want to know the nitty gritty. Getting them - and perhaps your lending institution - enthused will require a business plan which explains how you intend growing your business and identifies those areas and demographics you will be targeting. Before rolling out your first franchise, you will need to prepare financial forecasts and projections for at least the first three years. You may seek advice from a Mason Sier Turnbull . 13.09.2007
FCA Member
Contact Mason Sier Turnbull
315 Ferntree Gully Road
Mount Waverley
VIC 3149
Tel: +613 8540 0287
Fax: +613 8540 0202
