How long have you been employed? A decade? Maybe more? At this point, you should be happy with the career you’ve built for yourself. If not, then it could be the right time to try something else – like being your own boss for a change!
So why not start your own business? Don’t worry if you haven’t got prior entrepreneurial experience, when buying a franchise you will be provided all the support you’ll need.
Why a franchise?
Business franchising is a booming sector in Australia. It currently employs around 460,000 people – a figure projected to grow even further in the coming years. Franchising is becoming a popular option for first-time business owners thanks to its accessibility and strong return on investment (ROI), among other reasons.
High success rate
If you are new to the world of business, it’s quite understandable to play it safe and adopt a profitable business model with a proven track record. This is exactly what you’ll get with a franchise. The franchisor has been operating for many years and has demonstrated high profitability before franchising the business. Aside from this, the business system has already been perfected. This means that you’ll experience smoother business operations with a franchise business compared to a new start-up.
Branding benefits
Franchising allows you to benefit from a well-established brand name which many people are already familiar with, instead of fighting obscurity. This means you’ll get a massive head-start with the popularity of the brand and you’ll be at equal footing with existing businesses.
Free support and training
Whether you are a new business owner or not, the franchisor will guide you to success. That includes providing training and support to your entire staff, even after launching. As a franchisee, you’ll be able to reach out to the head office at any time for help with your business.
What to do before franchising
Convinced that franchising is for you? Before jumping on-board this exciting venture, it’s important to do your due diligence to ensure that a specific franchise is the right one for you. Here’s a quick checklist of things to do:
Go online
Find out what consumers are saying online about the franchise you have your eyes set on. What is its reputation as a brand? What is the feedback on its products and services? These will be carried on to your new franchisee.
Ask about the pilot testing
Franchisors must do pilot testing to ensure that the business model is indeed suitable for franchising. So, research how the pilot testing went for the business. It should not be any less than a success.
Talk to other franchisees
The business has a network of franchisees that can be a good source of information about the brand. Make sure to get feedback from some of the franchise owners before committing.
Refer to a franchise lawyer
A franchise agreement can be hard to understand if you are a first-time business owner and franchisee. Hence, it’s best to ask for help from a franchise lawyer to review the agreement and explain it to you in detail. This will also help you ensure that the trademark you are buying is registered.
Start a Renovare Franchise
If you are into property building and home renovations, then a Renovare franchise is the perfect venture for you. We are currently welcoming new and experienced business owners alike to join the ranks of Renovare franchisees. With a Renovare franchise, you’ll be part of a profitable and reputable home renovation brand that will help transform your life from a full-time employee to a successful business owner.
Prime regions will sell fast so don’t wait. Get in touch online with our franchise team or call 1300049516 to stake your claim to one of these available top franchise areas.