Franchise Feeds

 Hi all, When I began my franchise three years ago, I had little knowledge about the industry and the way it works. I did not know how to start a franchise, but my franchisor understood my problem and helped me take baby steps into franchise ownership. It is a straightforward process that involves following a step-by-step guide that includes researching the market and the industry to identify the most suitable franchise business for sale that matches your needs and budget. The other steps include liaising with the franchisor, leasing the commercial space, signing the agreement, and launching the unit. To get further details, read the article shared below.   https://www.franchise2sell.com.au/blogs/franchise/how-to-start-a-franchise-in--simple-steps

 Learn how to resolve a franchising dispute and the resources that can help you. The Franchising Code of Conduct sets out a clear process for the resolution of disputes between a franchisor and a franchisee. If you have a concern with your franchisor or franchisee you can: formally raise your concerns with them, including through the dispute resolution process in your franchise agreement and under the Franchising Code contact the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) or a Small Business Commissioner (if available in your state or territory) for help get independent advice on your rights from a lawyer, accountant, business adviser and industry association. Read More: https://business.gov.au/planning/business-structures-and-types/franchising/resolve-a-franchise-dispute

 It is not possible to predict what can happen during a business relationship. Franchise agreements usually go for many years. Sometimes, things can go wrong. When things go wrong for your business, but it’s no one’s fault A business that starts out well can struggle later. This can be due to things outside of your control, such as changing consumer tastes, more competition, or big world events. If your franchised business or the franchise system is not doing well, it doesn’t always mean a law has been broken. It’s important to have trusted independent advisors, like an accountant or a business advisor, who you can turn to when things get difficult. Read More: https://www.accc.gov.au/business/industry-codes/franchising-code-of-conduct/when-things-go-wrong-with-a-franchise

 Franchising is a way of doing business. Roles in franchising A franchisor largely controls how the franchisee’s business is run and controls the name, brand, and business system the franchisee is going to use. A franchisee bears the financial risk for their franchised business and pays money to the franchisor. In exchange for this money, the franchisor allows the franchisee to use the franchisor’s brand or system to sell products or services for a limited time. The franchisee must run the business according to the franchisor’s requirements. Read More: https://www.accc.gov.au/business/industry-codes/franchising-code-of-conduct/about-franchising

 Hello all, The moment you decide to purchase a franchise for sale in Australia, you must start preparing for the interaction with the franchisor. It is the beginning of your due diligence process because this is the time when you sign the non-disclosure agreement with them. After that point, you can access the financial documents and other confidential details of the business. Thus, before you do deep into the process, you must know what you are getting into. When I went for the meeting, I was ready with a set of questions. To prepare your questions, you must read the article shared below that lists the questions you need to ask before franchise acquisition. https://www.franchise2sell.com.au/blogs/franchise/questions-to-ask-before-buying-a-franchise

 A free business advisory service is helping small businesses in regional Western Australia to realise their full potential, as the state navigates the latest COVID wave. A quarter of WA’s more than 220,000 small businesses are located outside of the Perth metropolitan area, providing valuable services, goods, employment opportunities and more, directly to their local communities. The Business Local service, supported by the SBDC, offers expert advice to regional small business operators at no cost, through a network of experienced business advisers around the state. Read More: https://www.smallbusiness.wa.gov.au/blog/helping-regional-businesses-thrive

 Nearly 10 years into their business, Maggie and Bryan Jacobs realised they were missing out on opportunities to expand their trade. The owners of Geraldton Rubber & Conveyor had focused on working hard and providing great customer service since first opening in the Mid West town. But it wasn’t until happening upon RSM Business Local and seeking advice about completing a business award submission, that they really understood the potential for their family enterprise. “We joined an information session after being nominated for a business award and just got some mentoring and help with our submission, and then realised there was so much more that Business Local could do for us,” Maggie said. Read More: https://www.smallbusiness.wa.gov.au/blog/advice-helps-business-pursue-opportunities