Let’s focus on franchising

Are you as amazed as I am about the number of franchised businesses that keep popping up all over New Zealand?

Did you know that New Zealand is the most franchised country in the world – with one franchised unit for every 124 people?

That’s just one of many surprising statistics from the 2017 Franchising New Zealand Survey – and two years on, those stats are still impressive.

Given the high level of interest in franchised businesses, we thought it timely to dedicate this month’s cover story to the subject. Our story is more of a guide really, and we sought input from some of the best franchise brains in the country, including our own franchise columnist of many years Simon Lord – the publisher of Franchise New Zealand media.

And the story has useful advice for both potential franchisors and franchisees. Franchise businesses are well known for their ability to provide a solid income for the franchisee – and with all the resources and systems of the franchise owner to back them up, there’s much less risk involved compared to starting up one’s own business.

But things can still potentially go wrong – which is why it pays to invest in some advice from the experts up front. And in a market as small as New Zealand, those consultants are generally tried and trusted.

It’s fair to say that there’s a franchise to suit pretty much anyone out there. If you have previous business experience that’s a bonus, but it’s not imperative that you do. Just take your time with your due diligence – there’s no rush. And if you feel you’re being pressured, then that’s a red flag right there!

I hope you find this month’s cover story useful – franchising is a vast subject, and we hope we’ve done it justice.

And on a final note – at the risk of sounding like a broken record – have you entered The David Awards yet? It’s the business awards dedicated to all the small business battlers out there, and entry is dead easy. Just go to www.thedavidawards.co.nz

Have a productive and prosperous July!