Franchising Your Business
Establishing and testing the suitability of a business to becoming a franchise is not easy as Australia has some of the world's most stringent franchising legislation.
You should be doing all the following things before franchising your business:
- pilot test it with company-owned and operated outlets
- document policies, standards and procedures for your company–owned and operated outlets
- complete a detailed feasibility study (with professional advisers) on your business concept to determine if franchising will be appropriate
- seek professional advice - solicitor, banker, accountant and possibly a franchise consultant
- determine your franchise model – financial costs in setting up a franchise and ongoing fees, what support and services will you provide franchisees, strategic plans for franchise development, create training programs and a franchise operations manual
- develop your Disclosure Document and your Franchise Agreement, which must be written by an experienced franchise solicitor
- create a profile of a model franchisee and create franchisee recruitment and selection processes
For more details on franchising your business, visit the Franchise Council of Australia website.
FCA National Office
PO Box 2195
Malvern East VIC 3145
Tel: 1300 669 030
Fax: +61 3 9509 5159
Email: info@franchise.org.au
Related Content:
Related Content
Selling a Franchise Selling a franchise is largely the same as selling a business, but there is the added aspect of your relationship with the franchisor.
Financial Management Raising finance, financial forecasting, risk management and options for financial assistance
Retail Leases An introduction to retail leases.
Victorian Business Centres In 12 locations throughout Victoria the VBCs offer free support to Victorian businesses.
External Links
