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Finding your franchise- buyer tips to get you started

Sarah Stowe

When looking to buy a franchise it can be difficult to find information that relates to you, especially when you aren’t sure of the type of franchise, or even industry you want to buy into.

During this time, you will stumble across many opportunities, and each franchise you encounter will be vying for your dollars with the promise of high profits.

It can begin to feel like information overload, with each Google search sending you down an alternate path you hadn’t even thought of.

But at the end of the day, success will be underpinned by your passion and hard work, so the decision needs to come from you.

To help you narrow down your search, we have put together three tips that will help you to categorise your franchise options, and bring you closer to making a confident decision.

Choose an industry/business you are interested in

Often people make a decision to buy a franchise based only on the financial rewards. But buying a franchise business is an opportunity for you to finally work in an industry that you are passionate about.

It’s important to know when buying a franchise that whilst the hard part -building the brand- has been done, there is still a lot of work to be carried out in terms of the day to day operations and growth of the business and brand.

For this, you will need passion! So choose something that you believe in and want to learn more about, that way you will be passionate about selling it and helping the brand grow, not just about making money.

Analyse consumer trends

Whilst it’s great to be passionate about your business, it’s important that everybody else loves it too.

You don’t need to be a market analyst to gain this level of insight. A quick internet search will affirm what you likely already know about Australia’s most favourite things.

It’s no coincidence then that the top franchise industries in Australia –children, food, fitness, and personal electronics- are all based around consumer trends and modern needs.

But successful franchises don’t rely solely on “hot trends” to sell their product. Innovative companies will always look to explore other avenues simultaneously and in many cases, even set new ones!

What benefits exist for the franchise owner?

Buying a franchise over a start-up business is considerably more expensive. But with a tried and tested business model, an established market presence and the support of a much larger organisation behind you, the investment is considerably less risky than going it alone.

As a franchisee, you are buying the brand but you are also buying the franchise program. Cheaper franchises will usually be offered in saturated and competitive markets, won’t provide a lot of support and training, and probably won’t be worth much should you decide to sell.

A good franchise program includes ongoing training and support, innovative marketing and offerings that help sustain growth, and of course -a good return on investment.

When investigating your franchise opportunities, look at growth rate. If a business is growing fast, it is likely because they are doing something right.

Sumo Salad

As current finalists in the Australian Established Franchisor (FCA) of the year awards, Sumo Salad is a fast growing franchise network with a unique position in the fast food and health market.

With an extensive menu serving up locally sourced, healthy fast food for on-the-go Australians, Sumo Salad continues to lead the market with innovative product lines that are in sync to changing consumer tastes and market led initiatives.

They currently have a number of franchise opportunities available for the right people- looking to invest in a proven business model and growing industry with plenty of opportunity.

For more information on SumoSalad’s franchise program, click here.