How to buy a franchise: getting the right advice
Buying a franchise is both a major investment and a huge llifestyle step to take so getting advice from professionals makes sense.
As part of the due diligence process speaking to industry experts and franchisees can lead to some important insights into the franchising structure or a particular business opportunity.
Today it's important to get an all-round perspective of what's entailed in signing up to a franchise and that means using online resources such as franchisebusiness.com.au, the Franchise Council of Australia, the Australian Competition and Consumer Commission's website, and FranchiseEd (formerly the Asia Pacific Centre for Franchising Excellence).
There's value in attending at Franchise & Business Opportunities Expo (the next event is on 6 May in Perth) and learning from the advice sessions and franchisee discussions.
For Melbourne based franchise buyers there's an opportunity closer to home: law firm Legalite is hosting a lunchtime event with a panel including Nigel Miller, Plus Fitness franchisor, and Liz Nable, Xtend Barre franchisee, who join other experts to discuss how to conduct due diligence, understanding the legal documents, securing a lease and making the most out of the franchise.
Lawyer Marianne Marchesi, a regular legal contributor to Inside Franchise Business, will lead the 90 minute session which includes a light lunch on 3 May 2018.