Fran­chis­ing is a force for hard work­ing en­trepreneurs achiev­ing their goals out of the spot­light

Inside Franchise Business - - Contents - Sarah Sarah Stowe Ed­i­tor

As many a celebrity will at­test, fame comes at a cost. So when the spot­light shines on a busi­ness it can be for the best or worst of rea­sons. Fran­chis­ing has found it­self in this po­si­tion with the par­lia­men­tary in­quiry into the ef­fi­cacy of the Fran­chis­ing Code of Con­duct pro­gress­ing through ini­tial public hear­ings at the time of this pub­li­ca­tion go­ing to press. What’s been ap­par­ent in the glare of pub­lic­ity that has pre-empted and is ac­com­pa­ny­ing the in­quiry is there is no easy an­swer to bring­ing prof­itabil­ity and suc­cess to every fran­chisee across Aus­tralia.

How­ever, mis­lead­ing and un­con­con­scionable con­duct must be dealt with. The ques­tion is, does the Code need to be re­vised and im­proved? Do ex­ist­ing reg­u­la­tions suf­fice but need greater com­pli­ance? Do the reg­u­la­tors them­selves need more re­sources?

The hear­ings and in­quiry will ad­vance, the com­mit­tee will re­view and as­sess the sub­mis­sions and the im­pact of the Code, and by 30 Septem­ber the fran­chis­ing sec­tor will have clar­ity on what hap­pens next.

In the mean­time, this $146 bil­lion sec­tor con­tin­ues to power its way through a chal­leng­ing re­tail econ­omy, to build up strong ser­vice-based busi­nesses, to em­ploy about half a mil­lion peo­ple across its nearly 80,000 in­di­vid­ual busi­nesses.

These num­bers in­di­cate how en­trenched fran­chis­ing is across Aus­tralia - not just through the big names that hit the head­lines but through the ac­tions and en­trepreneur­ship of hard work­ing fran­chisees and fran­chisors trad­ing in ev­ery­thing from lawn mow­ing and dog wash­ing to busi­ness coach­ing and IT sup­port, from beauty salons and gyms to ho­tels and bak­ers, from pool clean­ers and lo­gis­tics to Mex­i­can food and ice-cream par­lours…

And fronting many of these op­er­a­tions are fran­chisees who have shown that a fran­chise model can bring div­i­dends.

In­di­vid­u­als look­ing to repli­cate this suc­cess fall into two camps: those who know clearly what busi­ness and brand they want to be in­volved in, and those for whom op­por­tu­nity is wide-open.

Whichever pro­file you match - there’s some­thing in this edi­tion for you. For those that are ad­vanced in their search, salu­tory ad­vice about the le­gal is­sues that are cen­tral to fran­chis­ing are un­cov­ered in the Fran­chise Ba­sics seg­ment.

For those of you just dip­ping your toes in the fran­chise pond, it’s a deep pool...you might start with the list of 10 fran­chises you’ve prob­a­bly never heard of (see page 14) be­fore mov­ing on to show­cases of fran­chisee and fran­chisor suc­cess, dis­cov­er­ing what’s com­ing up at the next ex­pos in Bris­bane and Mel­bourne, and un­cov­er­ing some of the brands oper­at­ing in the Asian food mar­ket, and ho­tel and auto re­pairs space.

En­joy the read.

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