THE IN­SIDE SCOOP: TOP TIPS FOR SUC­CESS

Inside Franchise Business - - Industry Spotlight -

• If you are new to the hospi­tal­ity busi­ness, keep in mind the hours can of­ten be chal­leng­ing

• Plan out your ideal busi­ness model and see whether the

fran­chise you are look­ing at matches it

• Don’t be afraid of high rents - these can be jus­ti­fied when proper mar­ket anal­y­sis con­sid­ers the size of the mar­ket and po­ten­tial of the site

• Do your due dili­gence on fran­chis­ing (via ACCC web­sites) and be sure to un­der­stand all le­gal and fi­nan­cial re­spon­si­bil­i­ties a small busi­ness owner should know

• Get to un­der­stand your tar­get au­di­ence with in-depth so­cial

and de­mo­graphic sta­tis­tics.

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