Franchising
By Aaron Smith, KX Pilates founder Many in the franchising industry believe that you shouldn’t recruit franchisees with zero business experience. Here’s why I think business experience matters less than you think. There’s a standard list in franchising that outlines what traits potential franchisees should have and ‘past business experience’ or ‘business acumen’ is often […]
Former HR Manager, James Trenerry turned a $40,000 debt into a successful KX Pilates franchise enterprise, generating a revenue stream of $2.5 million. Here are his tips for business success. Define your vision A clear vision and strategy is essential to reach your goal This sets the tone for your business direction, objectives, and […]
Australia is thriving with over 1,300 franchise businesses in a range of industries, earning over $181 billion dollars in revenue and continually growing. [1] In recent times, however, more franchisees have found themselves in a dispute against their franchisor. These problems generally arise for one of two reasons – either the franchisee has not been advised […]
It’s no secret that millennials have developed a bad reputation, particularly when it comes to the workplace. Baby Boomers and Gen Xs tend to have a not so complimentary view or the younger generation – but could these millennials have more potential than first meets the eye? [Related: How to transform franchisees into entrepreneurs] Typically […]
There’s a common misconception in the small business world that being your own boss means you sacrifice a healthy work/life balance. While putting in extra hours can be important, particularly in the early stages of your journey, there are certain tricks and systems you can put in place to ensure your business will thrive in […]
The recently released Franchising Australia Report from Griffith University tells a positive story for franchising, and particularly the retail sector. The report revealed there were 1120 business format franchisors in Australia last year, and despite the flat economic environment we’ve been operating in, franchise brands have grown. This has subsequently led to increased sales turnover […]
Recent research from Griffith University’s Asia-Pacific Centre for Franchising Excellence shows there are an estimated 70,700 business format franchised units in Australia. That’s thousands of Australians enjoying a rewarding and fulfilling career in franchising. Although franchising can sound like an attractive proposition with significant financial and lifestyle benefits, it’s not the right fit for everyone. Before […]
Business can be a funny beast. One minute you’re hard at work running your business a certain way and then, seemingly out of the blue, a potential new direction presents itself. A number of incidental circumstances can lead to these turning points. It could be that a customer need sparks the idea for a new […]
The steps prospective startup founders and franchisees must take to hit the ground running, and the common mistakes they should avoid, were revealed to Dynamic Business in a recent Q&A session with Dan Newton, the CEO of Snap Fitness Australia. Since joining Snap Fitness nine months ago, Newton said he has made it his mission to transform the company’s internal processes and […]
Opening a franchise is an appealing option for those who want to own a business, but getting started can be daunting. With a franchise, you’ll receive the support of a franchisor so you won’t have to worry about starting from scratch or jumping over obstacles traditional startups face. Here are eight important tips to ensure […]
We work hard and we strive for promotion; we get promoted and receive financial reward. Do we then pause in content and admire the view before considering our direction? Not likely. Most career-minded individuals will tilt their heads back and start looking up at the next rung of the ladder. After all, we are conditioned […]
The Australian market has recently seen an untraditional wave of franchise business models, allowing companies to enter the market quickly with low set up costs, and grow rapidly within just a few years. One of the key players here is the ‘low staff’ business model, used widely across the health and fitness industry with the […]
For a new business start-up, the cost and complexity of staff, landlords and rent is all but part of the package. Then comes the question of location: who are your customers, will they come to you and how many competitors are already in the area? But what if your business was mobile – what if […]
After a joint investigation by Fairfax and Four Corners uncovering widespread underpayment of staff by 7-Eleven franchisees, 7-Eleven has said in a statement that it will pursue franchisees to repay money owed to present and former staff. Chief Executive Officer, Warren Wilmot said “the viability of the 7-Eleven system is in no way, never has […]
Dimitri and Janet say it hasn’t been a complete walk in the park, but believe they have found the balances needed to drive a successful relationship and business simultaneously.
As a small business owner, you need to be clear what this means, where you can save money and what new legislation you are able to take advantage of. Here’s what you should note…
A Melbourne cleaning company has been fined half a million dollars in proceedings by the ACCC.
Choosing a franchise over owning an independent business should provide you with constant back up and support. However, this doesn’t mean that you need to wash your hands of the legal and financial implications.
Buying a franchise is often a daunting decision, from both a monetary and lifestyle perspective. Here are six pearls of wisdom to consider when scoping out potential franchises.
The home improvement industry is one arena in which a skilful and tenacious Australian entrepreneur may be interested in starting a vibrant SME.
