Are you committed to franchising and ready to buy a franchise? If so, you are in good company. In a recent poll on franchisebusiness.com.au which asked ‘Are you ready to buy a franchise?’ almost 40 per cent of participants said yes.

Of these, 19.47 per cent have already decided on a franchise for their future and are using the website to find out further information. Slightly more of the poll  participants (20.35%) have singled out franchising as the way forward but are yet to choose a brand – they are still looking for the right business for their needs.

I know what I want but…

Just over 18 per cent are clear-sighted about their goals and business but have not yet sourced the finances to get the deal over the line.

It pays to know what costs are involved before heading to a bank or other financial institution for funding. Check out this cheat’s guide to franchise financials.

Site selection is the next step for less than 10 per cent of people who took part in the poll – just 8.85 per cent are ready but looking for a location.

Research is king

The poll reveals that potential franchise buyers are getting to grips with researching the franchise opportunities, and the franchising sector, before deciding on a business.

Just over one third (32.74%) of participants have indicated they are in the research stage of the buying journey. Here are some tips on how to spot a winning franchise.

Want to read more about the franchising sector? Check out these articles:

https://www.franchisebusiness.com.au/news/best-franchise-deal/

https://www.franchisebusiness.com.au/news/8-futre-proof-due-diligence-steps/