What is the future of franchising in 2009?

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Grant Garraway is Senior Consultant at the Franchise Shop Pty. Ltd. and he boast dozens of successful franchise developments. From home-based service franchises to multi-national retail operations and everything in between, The Franchise Shop team has been pivotal in the significant growth of many companies. Grant's 20 plus years of experience in franchise chain management and consulting and systems management makes him a trusted and reliable source of specialist knowledge. Grant hold post Graduate qualifications in Accounting and Buisness Mnagegement, and is a regular speaker at Franchise Expo's, and writes for variuos franchise magazines in Australia and New Zealand.

What is the future of franchising in 2009?

That’s a hell of a good question. We will see different trends for different industries, and different trends for different companies within those industries. However in over all terms we will see more franchise systems launched in 2009 than in 2008, and more new franchise sold in 2009 than in 2008. The economic downturn will see to that.

Potential franchisors will see franchise owners as a source of both committed talent, and of capital to expand their brand. Potential franchise owners will see franchising as a way to secure their future and bring more control to their own lives.

What industries will do well in 2009? According to IBISWorld General Manager (Australia), Mr Robert Bryant the “Top 10” employment industries in 2009 would be: biotechnology; online information services; non-building construction; cosmetic and toiletry retailing; grain and livestock farming; blood bank and health services; ISPs; passenger rail; waste disposal services and online shopping. It’s probable these will also be good franchise industries to be connected with in 2009 and beyond. Education based franchise are also tipped to do well.

However as important as demand in overall terms for the industry sector you choose is, it is also very important to choose a franchisor who is a natural and strong marketer so your brand gets more than its share of the business available.

Look for emerging industries where you can buy in at what will probably be lower than average prices when measured over the next 5-10 years.

Be prepared to look to haggle to get some additional value with your purchase. More training, launch support, some deferred payment terms or whatever. Many franchises are starting to offer a guaranteed income for the start up period to give you more confidence to jump from your job to self employment.

At The Franchise Shop we believe we represent a wide range of diverse franchisors who have competitive and compelling franchise offers. We invite you to discuss which ones may suit your needs and how we can assist you to complete your research in to which one is the best match for you and your family.

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