Is franchising right for me?

Franchising is a way to get into business or expand your own company with the support of an existing business. It’s really a career and an investment in one. You’ll want to make the right choice as you’ll be living with it for a long time.

The biggest mistakes people make when buying a franchise

Wanting to do things their own way – being part of a franchise operation means being part of a team. While there may be some scope for individuality, generally the franchisor will set the rules in terms of branding, systems and operating processes.

Expecting the franchisor to run the business – while franchisees will get support from the franchisor, it’s still up to them to do the work to make the business a success. They grow their own business through leveraging off the shared marketing and operational support.

Assuming they can borrow the full franchise fee – often lenders will only provide 80% of the cost of the franchise. You also need to take into account the time it may take to get your business up and running and what working capital you have available.

Creating the right financial package

To find out whether franchising is right for you, contact one of our advisers today. We can help you create a detailed business plan and work out the right funding package for your needs.

Talk to one of our advisers before making any decisions.