At Franchising magazine we love anything that helps ease the decision making process for potential franchisees so it’s good news that Bedshed has launched a simple franchise calculator tool that will help in the early stages of evaluating franchise systems.
With number crunching the key to a positive investment, the retail bed franchisor recognised it could be a real challenge for newcomers to compare and contrast their purchasing options with an estimated 1000 plus business format franchise systems operating in Australia in 2010 (Franchising Australia 2010 Survey).
The new online tool works with the factors common to most franchises (marketing fee, royalty fee, sales, gross margin and expenses) to provide an initial profit estimate and long term estimated profit projection on up to three franchise models at once – based on generic figures.
Bedshed’s chief operating officer, Gavin Culmsee said “The calculator is about helping people make more informed decisions about what franchise is right for them. We developed the Bedshed Franchise Calculator because we saw a real gap in the information available to potential franchisees when it came to a simple online tool to compare the available options.”
Potential franchisees can use the calculator like a ready-reckoner to highlight possible opportunities; further financial investigation would be essential once the prospective systems have been selected.
Culmsee said “Of course, this is designed purely as a guide, because the real numbers will depend on a range of variable factors. The Bedshed Franchise Calculator helps people compare apples with apples before they start spending money on accountants and financial advisors.
“We think Bedshed will compare well to any other franchise people might be considering and we’re willing to put ourselves to the test to make sure potential franchisees do find the right options for them — whether or not that is a Bedshed franchise,” he said.