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Franchise not always Easy
Franchising is a popular entry to owning and operating a small business. The sector has experienced growth of 16% in the last 3 years with over 1000 chains and 70,000 outlets creating $170 billion sector. During and post Financial Crisis workers sensing or experiencing retrenchment were driving franchise take-ups. Keen to enter the business fray new players committed redundancy money, family homes and life savings to buy in. Buyers decision making processes are not always tempered in good business sense or business knowledge. Key decision factors to purchase franchises are based on lifestyle, brand security, self direction, income and skill development. What becomes apparent for new franchisees is their investment is a costly buying of a job and not the freedom and financial empowerment anticipated.
20 Jun 2010 - Rod Richards