Franchising is a perfect way to open a business’ product to new markets and extend a brand’s reach. Establishing franchises can be a relatively complex process but well worth the effort for both businesses and business workers.

Put simply, franchising involves using a practiced, successful business model and extending it to allow other independent businesses to use the same brand name and sell the same products or services. It is a highly innovative method of distributing goods and services and is also a great way of growing Australia’s small business sector.

Things to Do Before Starting a Franchise

Looking to Buy:

If you’re looking to buy or start up a franchise the most important things to consider prior to setting it up is to ensure you have enough capital. Owning or managing your own business can be a highly stressful lifestyle and you need to ensure you have the funds to start up a franchise and keep it going and also enough time and commitment to ensure its success.

You should also be sure to conduct lots of research before diving in to the franchising process not only to ensure you understand the brand and products but also that it is definitely the area you want to get in to. It is also a good idea to acquire accounting and legal advice before making any strong commitments.

For Small Businesses:

As a franchisor, if you are looking to start up new franchises you should firstly ensure you comply with the Franchising Code of Conduct, which is stipulated by law. The code outlines your rights and obligations as well as the information and agreements you must share with the franchisee. Secondly, you should review your Goods and Services Tax (GST) requirements and the fees you will be needed to pay.

Creating franchising agreements and manuals is essential to detail how intellectual property will be covered, the Occupational Health and Safety obligations and more. Ensuring you have set clear agreements and rules prior to establishing franchises will help avoid problems occurring later on. However, if disputes do occur, the franchisor and franchisee can resolve issues through the Office of the Franchising Mediation Adviser (OFMA) without going to court.

Franchising Opportunities

One of the optimum businesses with franchising opportunities all over the country is Ella Bache Franchise. With salons available for purchase in most regions of Australia as well as opportunities to start new beauty salons, it’s never been easier to become your own boss and start your own business franchise. The current Beauty Salon franchises for sale in Australia include salons in Nowra, NSW, Mackay, QLD, Shepparton, VIC just to name a few. So jump on the bandwagon to become part of the growing network of Ella Bache salons that will only continue to grow and expand.

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