Franchise Feeds

 Hi Everyone, A few years ago, I purchased a franchise for sale in Australia. It was the perfect way to become an entrepreneur and start functioning. I worried that I would not be able to manage things effectively. However, I started with the creation of the business plan and then putting a smart and trained team in place to set the ball rolling. It seemed like one of the best things to do initially but the burden of work made me realise that I needed to work hard. I have now long-term growth plans in place and have been working to accomplish them with my best effort. Here is an article that will help you understand this in detail.   https://www.franchise2sell.com.au/blogs/franchise/franchise-management-tips-for-longterm-growth

 You may have seen recent media reports about insurance issues for a range of home-based businesses across Australia. If you’re starting a business, you can take steps now to prevent your home insurance policy becoming null and void in the future. Depending on your home insurance policy, you may have cover for your buildings and structures as well as the contents of your home. Running a business from home, or even storing business-related equipment at home, increases the potential risks of your home and contents suffering damage – so your home insurance won’t automatically cover this. In fact, some business owners have found their home insurance policies have become void because of their business equipment or activities. Read More: https://www.smallbusiness.wa.gov.au/blog/home-insurance-and-your-business

 Buying an established business can be challenging – but it can help knowing there’s somewhere you can turn for support. Jasmine Kik from Fireplaces WA uses our SBDC services regularly and shares her story Fireplaces WA is a family-owned business offering a range of gas, wood, bio-ethanol, and electric fireplaces. According to the Fireplaces WA website, a fireplace should be a year-round piece of art which provides a designer impact and a relaxing ambiance even when it’s not being used. Jasmine Kirk and her partner bought the business four years ago and have been learning about the world of small business ever since. Here are some of the insights Jasmine shared. Read More: https://www.smallbusiness.wa.gov.au/blog/hot-tips-business-fireplaces

 Hi there, I purchased a franchise for sale in Australia when I was learning the tricks of the trade. The first advice I got from the franchisor was to create a business plan after conducting some market research. It involved learning about the competitors in the market, understanding the target market and defining the goals of the franchise. I worked hard to prepare the document and asked an accountant to help me with the financial projections. The document has been amended a few times over the years, but it has been the roadmap forever. So, here is an article that will tell you about the importance of a business plan for a franchise.     https://www.franchise2sell.com.au/blogs/franchise/why-is-business-plan-important-for-a-franchise

 Deciding to raise your prices can be a big step for your business. The next crucial step is to make sure your customers know what’s changing, why and when your new pricing takes effect. If you’ve decided it’s the right time to increase your prices, it’s important to invest time in planning how to share the news of your new pricing. Our small business advisor Steve McLaren recommends being clear and direct about your price increase. “If your customers are fully informed regarding the changes, they are likely to be more understanding and willing to accept them,” he says. Read More: https://www.smallbusiness.wa.gov.au/blog/how-tell-your-customers-about-your-price-rise

 Your business could benefit from using a range of digital tools and apps to help manage your finances, keep accurate records, sell online, oversee social media accounts, improve productivity, engage your employees and customers, and more. Whether you want to boost your sales, streamline your processes or stop spending so much time updating spreadsheets, it’s likely there’s a digital tool or app to suit your business goals. Read More: https://www.smallbusiness.wa.gov.au/blog/digital-tools-boost-your-business

 Hi there, Ever heard of a master franchisee? Most of us have not! I am one of them. You must be wondering about the difference between a franchisee and a master franchisee. Well, a master franchisee does not necessarily own a unit. They have more influential and powerful role in the network. They manage an entire geographical region on the behalf of the franchisor who delegates the responsibility to them. They recruit sub-franchisees who are trained and supported by them. They generate income from the franchise fee and royalty they pay to the franchisor. A percentage of these payments is given to the master franchisee. To know more about this system, read the article shared below.    https://www.franchise2sell.com.au/blogs/franchise/what-is-master-franchising-and-what-are-its-benefits