Steps to take before you sign up to a franchise

 Find out what it’s really like to be a franchisee

Appearances can be deceiving and you can’t tell how well a business or franchise system is doing from the outside. Talking to other franchisees is the best way you can find out what a franchise business is really like.

To know more about what franchising is like, potential franchisees should:

speak to at least 5 current and former franchisees

We have put together some questions you can ask former and current franchisees to help you find out what a franchise is really like.

The franchisor must include contact details of their current and former franchisees in the disclosure document.

The franchisor cannot influence or encourage a former franchisee to ask for their contact details be removed from the franchisor’s disclosure document.

Read More: https://www.accc.gov.au/business/industry-codes/franchising-code-of-conduct/thinking-about-buying-a-franchise/steps-to-take-before-you-sign-up-to-a-franchise



Comments

Post a Comment

Popular posts from this blog

Michel's Patisserie stores to shutter and all remaining cafes converted into Gloria Jean's or Donut King

Image
  Retail Food Group (Australia) can confirm that we have engaged our valued Michel's Patisserie Franchise Partners in conversations regarding the future of the Michel's Patisserie brand and network opportunities for current franchisees," a spokesperson for RFG told 9news.com.au. "While Michel's Patisserie has a long history within Australia's retail food market, a brand assessment has confirmed a variety of barriers to driving future brand growth; limitations that have been assessed while also considering how we as a network can better invest and help deliver lasting positive change for our Franchise Partners and stakeholders. Read more: www.9news.com.au/national/michels-patisserie-brand-to-be-officially-retired-poor-sales/a02c2050-d18a-4703-b0d3-b9110d73430d
Read more

What Are Franchising Ethics and Why Are They Important?

Image
 Franchising ethics means doing business in a fair, honest, and responsible way between franchisors and franchisees. It includes being clear about agreements, offering the right support, and respecting each other’s roles. Good ethics build trust and strong partnerships, which are key for long-term success. They also help avoid conflicts and protect the brand’s reputation. When both sides act with integrity, it creates a healthy business environment where everyone can grow. Ethical practices are not just rules—they show a commitment to fairness and professionalism, which attracts more customers and helps the franchise stand out in a competitive market. To know more, click here-  https://www.franchise2sell.com.au/blogs/evaluation/what-are-franchising-ethics-and-why-are-they-important
Read more

Tips To Run A Successful Franchise Business For Beginners

Image
  Running a successful franchise business as a beginner requires strategic planning, dedication, and smart decision-making. Start by choosing a franchise that aligns with your interests and market demand. Understand the franchisor's expectations, training, and support systems. Stick to the proven business model while maintaining strong customer service and operational efficiency. Stay updated on industry trends, monitor your finances closely, and hire the right team to ensure smooth day-to-day operations. Building strong relationships with customers and the franchisor can boost your growth potential. With consistency, adaptability, and a clear focus, even first-time franchise owners can achieve long-term success in the competitive market. https://www.franchise2sell.com.au/blogs/strategy/tips-to-run-a-successful-franchise-business-for-beginners
Read more