Having worked in a franchise model for the last 12 years and have owned my own business before, I know and understand the difficulty in deciding – “do I join a franchise business or do I open a business on my own?”
Talking to people every day, I often get asked “how does a franchise work?” From personal experience franchise ownership is a great way to run a business, you are part of a bigger system, and you have support around you. Starting your own business can be very rewarding but also very lonely. It is easier to join a franchise system that has a proven model that works, than it is to start a business on your own.
So how does a franchise work?
In a franchise system, the “franchisor” develops the brand, business model and support systems. The “franchisee” buys into the franchise system as a business owner and follows the system.
What does a franchise model offer?
- Well established and proven business model - You are buying into a proven system, and you can validate this through other franchise owners in the system.
- Training and Ongoing Support - Initial training and ongoing support in Learning & Development is a key part of a franchisee’s success.
- Marketing and Brand Awareness - Campaigns and social media presence keep the brand actively in front of your target market and the level of engagement high
- Support Office - This support comes from different departments, ie: Finance, Compliance, HR, Marketing, Sales & Operations, IT and Commercial. The team in the support office shoulder all the backend support so that you focus on sales and growing your business.
- Networking with other owners - You are working for yourself, but not by yourself. You can connect and learn from other owners who have had success in the business.
So how do you know what franchise model is the right fit for you?
As Head of Franchise Development ANZ for Express Employment Professionals and Frontline Recruitment Group, we really take the time to understand what a potential franchisee is looking for by finding out more about them:
- Understand personal goals and strengths
- The motivation behind wanting to own a business
- The financial budget and investment level
- Reasons for exploring the franchise model
We encourage potential franchisees to always do their own research
To help find out as much as you can about the brand you are considering buying in to. Read online articles and reach out to anyone you know in the business or who has had dealings with them.
- Understand the market, business model and unit economics
- Research competitors
- Understand what role you will have in the business as a Franchisee
- Ask Questions
If you are interested to find out more about a franchise opportunity please reach out to me, I would be happy to walk you through our franchise model.
Head of Franchise Sales and Development
Express Employment Professionals ANZ & Frontline Recruitment Group