Exiting Your Franchise (Part 7)

How to exit your franchise business the right way. For various reasons you may need to exit your franchise business. These reasons can be many and varied and include: ill-health separation and divorce family reasons time to sell and do something different disputes with your Franchisor dissatisfaction with the system, the Franchisor, certain aspects of…

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So Now You Are a Franchisee (Part 6)

So now you are a Franchisee – making the most of your franchise business. There is a saying in franchising “you are in business for yourself but not by yourself”. As a Franchisee, you independently own and operate your own business within the Franchisor’s framework, but you have the support of a Franchisor which should…

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Make Sure You Do Your Franchise Due Diligence (Part 4)

Franchise due diligence – how to prepare before you commit. So now your search is over – you have found a franchise business that suits you – what next? You will likely have received a Disclosure Document from the Franchisor and a draft Franchise Agreement together with a copy of the Franchising Code of Conduct –…

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Franchise Education (Part 3)

It’s free and it’s worth its weight in gold. Okay, so you have an idea of what sort of business you think may suit you – now BEFORE you take the next step – do yourself a favour and get up to speed with all the ins and outs of buying a franchise business. And…

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Franchising – Good and Not So Good – You Decide (Part 1)

The Franchise Journey. As is often said, small business is the backbone of Australia. 96% of all businesses in Australia are small business and there are more than 2.1 million small businesses operating in Australia today.(ABS 2014) Franchising is part of that number. According to the recently released Franchising Australia 2014 Report* there are 1160…

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Franchising – The New Code

New Code of Conduct – Changes Impacting Franchise Businesses The New Code of Conduct for Franchising commenced on 1 January 2015. The revised New Code gives some further protections for franchisees and imposes onerous new penalty provisions for franchisors who breach the code requirements. Franchisors should ensure they are: 1. Using a separate marketing fund bank…

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Franchising – Some Interesting Statistics

According to research carried out by Griffiths University – Asia-Pacific Centre for Franchising Excellence, the results of which are contained in the Franchising 2012 report, the number of different franchise businesses operating in Australia is 1,180, which is an increase of 15% in the 2 years to 2012. This equates to 73,000 units – which…

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