EDITORIAL

Riding the rollercoaster to franchise success

What do you expect out of your franchise? I imagine there will be a number of things that come to mind — personal and financial goals, lifestyle changes, fulfilment of ambition, a new start for instance. Whether or not you have made the decision to buy a franchise or are still considering the options, the process of uncovering opportunities and potential income streams that will meet your wishlist can be fascinating, inspiring, frustrating, and all-consuming. And that will probably sum up your experience as a franchisee too.

Greg Nathan, the founder of the Franchise Relationship Institute, is well versed in the rollercoaster ride that all franchisees undertake. Firstly, he’s a former franchisee himself. Secondly, his business is highly experienced at observing and recording the relationships and typical behaviours between franchisee and franchisor. That’s why Inside Franchise Business asked him to share some invaluable insights about what he calls the Franchise E-Factor — the common attitudes that each franchisee displays at various stages in the life cycle of owning and operating a franchise. Find out what you and every other newbie franchisee will be feeling over your business term with this insightful article on page 136.

Expert advice is always at the core of Inside Franchise Business magazine, and this edition is no different, packed full of advice on finance, legals,

HR, marketing and training as well as pointers from the Australian Competition and Consumer Commission on page 142.

These tips will help you formulate a sense of the issues to consider before and as you embrace business ownership.

In this issue six supercharged franchisees are sharing their stories of overcoming challenges and taking the road to success. Turn to page 44 to read about how a go-getter, nurturer, serial entrepreneur, strategist and two new Australians have built a future out of franchising.

Inside Franchise Business is always packed full of inspirational articles; I hope you enjoy this edition.

And don’t forget to keep an eye on the news updates through our e-newsletters. Just go online at www.franchisebusiness.com.au and sign up to receive regular emails.