Business Franchise Australia and New Zealand 23the same aims and business goals? Do you
‘get’ the brand? Is there enough support to
assist you in ‘getting’ the brand? To ensure
your values are in line with the franchisor’s
culture you must understand what factors
are important to the franchise, and check to
see that they match your own priorities and
values. If they don’t match then there is every
chance your ideologies will clash, and you
should look into another opportunity.
Unfortunately, not many people are lucky
enough to find happiness simply by looking to
make money. Although a profitable business
is very important, our most successful
franchisees are the ones who love the brand,
and sell our products to consumers because
they love them. Financials are of course
important, but it is a lot harder getting out of
bed in the morning when you don’t love what
you do.
Be happy with your business, what it stands
for and the products and services you are
offering; they are of the utmost importance.
You have to be true to yourself to be a good
business owner! After all, you spend a huge
portion of your day in your business.
If you’re looking to be your own boss, but
perhaps lack in some areas, a franchise
is a good option that offers you a proven
framework for success. Doing it alone can be
very difficult. No one has all the expertise and
resources required for a successful business.
You can’t be the marketing, financial, legal,
and operations expert alone, all at once.
Starting a business is hard enough; so take
advantage of the experience and expertise of
others, which a franchise opportunity offers.
Think about the different possibilities and
pathways you could take to execute your
business venture, and understand that you do
have options.
Recognise your strengths and weaknesses...
and capitalise on your strengths and get
help with the weaknesses. Be aware of the
opportunities and threats. (That’s not just
jargon, but reality). Becoming part of a
franchise system means assistance is provided
where and when it’s needed. Your franchisor
wants you to succeed, so never be afraid to ask
for help or advice.
Asking for help is often warranted, but if you
are not going to put the hard yards into your
business, maybe owning a franchise is not
for you! Just like any small, medium or large
company, a franchise is a business, and that
means hard work! Don’t fall into the trap of
thinking that the work is done for you! You
need to roll up your sleeves and get right in!
Even in a franchise, your reputation on thehow to choose the
right franchise
for you!
“you are the face of your own franchise. Any
franchisor wants you to be proud of the product
you represent. make sure your choice is the
right choice for you!”Stan gordon | Founder and ceo | FrANchised Food compANyline. You need to be the face of your business,
which includes knowing the ins and outs of
your offering. If a customer turned to you to
ask for advice on the product you are selling,
would you be confident in helping them? If
you didn’t have the answers, how would you
find out about them? Does your franchisor
offer training? Learn about the best ways to
equip yourself with the right tools to be able
to run your business.
You need to develop a strong knowledge of
the franchise and the industry you are buying
into. You also need to understand that this
will determine not only your workload, but
the areas of your business that require the
most attention from you. If you have a strong
marketing background, you may need help
with the legal side of things. A social media
whizz? Find out whether your franchise can
have its own local, store-based platforms, or
whether they are controlled by head office
on ly.
If possible, do research into the history of the
franchise system, such as business revenue and
years of operation. Research is critical!
As the owner of the business, it is very
important that you are comfortable and
willing to work within it. You need to be able
to be on the ground, speaking with customers,
making sure that your staff and processes
reflect the franchise benchmarks, but also
your own standards of service. Have you
developed a positive working environment?
Do you and your staff have enough knowledge
of the product? Know about trends in the
industry and how they can help leverage
further business.
Before you commit, it’s a smart idea to get
insights from other business and franchise
owner’s experiences. Hearing about their
key learnings can help drive your businesses
success. There will be hard times, like
anything you do in life! Getting advice and
hearing about the negative times from others
can help you minimise the negative impact on
your business. Asking these questions is also
a great opportunity to bond with your fellow
franchisees. You are all in this together, sonetworking with people in your business can
help you build a better business.
Again, research, research, and research.
Look into other businesses in your area. Do
you think you have enough of a customer
base and a strong product to break through
the market, or is it too crowded? Do you
think that one fixed site is for you, or do you
want the flexibility of a movable business?
Some franchises have this offering, like our
Pretzel World Tuk-Tuks. The business is on
wheels, which means they are able to move
to wherever the customer base is. On the flip
side, this may also mean that because your
business can move, the customer base may
need to be built from scratch each time.
Remember that many things impact a
business. Is your offering seasonal? Is your
location seasonal – for example, a beach
side suburb or on a snowy mountain? Do
people need your product out of necessity or
want? Do you have a strong customer service
base? Does your product sell itself? Consider
whether your offering is a trend or something
that is always ‘wanted’ or ‘needed’ by the
public.
Find your niche in the market; look for areas
that your target audience might frequent,
and set out to offer the best product and
service possible. You are the face of your own
franchise. Any franchisor wants you to be
proud of the product you represent. Make sure
your choice is the right choice for YOU!
Most important to us, is the motto we live by,
Make Money and Have Fun!Stan Gordon is the founder and CEO
of Melbourne-based Franchised Food
Company, the umbrella organisation
incorporating the brands Cold Rock Ice
Creamery, Trampoline Gelato, Mr Whippy,
Pretzel World, Healthy Habits, Nutshack
and Europa Coffee drive thru.
1300 003 326
[email protected]
http://www.ffco.com.auhow to choose the
right franchise
for you!