Switch Business advise on the 7 key questions to ask as a potential business services franchise owner

Q1: What is the opportunity and the potential for growth?

According to the Council of Small Business of Australia (Statistics), there are 1.88 million small businesses in Australia, representing over 95% of all business.

With SMEs increasingly outsourcing their bookkeeping functions and looking for more meaningful reporting, the market is wide open and the potential for growth in this area is excellent.

The Switch Business franchise system strategically targets the middle ground between bookkeeping, tax and accounting. This is where significant opportunities exist to upsell business services and provide unsurpassed value to SME clients.

The Switch Business hub is essentially a ‘one-stop-shop’ that offers SME clients convenient, affordable access to centralised tax, financial, management and bookkeeping services.

Switch Business Managers, or business services franchise owners, will be the clients’ conduit to products and services they require, but often think they can’t afford.

Q2: Will franchisees be supported with business leads and contacts?

Training as a Switch Business Manager will reveal simple ways of generating business leads and contacts.

Additionally, leads generated by Switch Bookkeeper Associates in specific franchisee territories will be exclusively referred to those specific franchisees. These contacts will offer outstanding opportunities to build close working relationships with both the bookkeepers and the clients they introduce.

Switch Business has also invested in a purpose-built, search-optimised lead generation website. Expressions of interest within the franchisees specific territory will be immediately passed to them for action.

Q3: How much can franchisees earn?

As a Switch Business Manager (SBM), income will directly reflect the franchisee’s commitment to providing outstanding service to their clients.

For instance, just 20 hours per week on average can earn franchisees approximately $124,800 per annum.

Also, franchisees will be generating additional revenue through the tax, financials and management services that they provide to their clients through the Switch Business hub.

The more franchisees help their clients, the more they will earn. It’s as simple as that.

Q4: How thorough is the training?

The purpose of Switch Business training is to lay the foundations for the professional career of their franchisees as a new kind of business advisor: a Certified Switch Business Manager.

Initial training will take place over three full days in a friendly ‘classroom’ environment. Sessions are presented face-to-face by Switch Business Directors and experienced Head Office staff members.

All aspects of Switch Business will be thoroughly covered: 

• Understanding business and income models 
• Practical examples and activities 
• Understanding Switch Financials 
• Using BAS/IAS review and lodgement services 
• Using and implementing proactive solutions (through our management products) 
• Understanding consulting and using Switch consulting tools and resources 
• Complete overview of the Switch websites and online resources 
• Case studies 
• Working with and understanding the role of Switch Bookkeeper Associates
• Marketing launch plan

After the comprehensive introduction and certification, training will continue on a regular basis. Monthly sessions will cover topics of true relevance to the business, such as how to use and market each Switch Business product, and strategies to build the business.

A wealth of information will also always be instantly available to franchisees via the extensive Switch online consulting library, and they will be free to contact Switch Business Directors and support staff by phone or email whenever help is needed.

Plus, Switch wants to hear about franchisee’s business experiences in order to keep adding value to their resources and products.

Q6: Will marketing collateral be provided?

Franchisees will have immediate access to a wide range of Switch Business branded marketing collateral – everything from flyers, emails and postcards to kick start the marketing launch to stationery and presentation materials that will establish their image as a Switch business specialist right from day one.

Q7: Can more than one franchise be bought?

Yes. An entrepreneurial franchise owner may promote their Manager into a new territory and invest in that new franchise with, say, 60/40 ownership.

Switch sre are therefore perfectly suited to succession and expansion plans because this step can be repeated many times, and becomes a terrific leverage and retention strategy.

Switch Business are happy to answer any other important questions that prospective business support franchisees may have.