Why a franchise is perfect if you’ve got no experience
Want to get into business but you don’t have the experience? No worries. Buying a franchise could be the best step you take.
For many Australians the dream of business ownership becomes a reality through the structure of a franchise.
Bruce Billson, chairman of the Franchise Council of Australia, explains “In a franchise arrangement, the franchisor allows a franchisee to use the franchisor’s trademarks and systems for a set period of time and has significant control over how a franchisee conducts the aspects of their business covered by the franchise agreement.
“The franchisor will normally change an up-front ‘franchise fee’ for a franchisee to use their systems and intellectual property. Generally, a regular ‘royalty fee’ is also charged by the franchisor, either as a percentage of turnover or as a flat fee.
“In return, the franchisee should get ongoing training, support and marketing assistance to help them grow their business and maximise profitability.”
And it’s these aspects of support that provide inexperienced business people with a route to business ownership.
Many franchise systems are keen to engage with individuals who have no experience in the sector they operate in. That means franchisees don’t come with any set ways of operating, and can easily learn the franchisor’s processes.
Franchisors seek franchise buyers who have skills that can be adapted to their business model through training and systems but above all desire drive and passion.
Franchisors often grant franchises to people who have the right attitude rather than the specific business or technical skills for the job.
So imagine the benefits of learning the tricks of the trade from an experienced franchise team. Imagine the opportunities to learn best practice from fellow franchisees because that’s one of the great advantages of a franchise - a network of other small business owners who are happy to share their business learnings.
Why not investigate franchising further? It might be the solution to your future.