Franchising
Franchising is an effective business growth strategy, allowing you to forge strong relationships with like-minded business owners who share your vision for your product or service. A franchise allows businesses to achieve scale without a huge investment in resources. Often, time-poor middle market business owners look to franchising as a solution to grow in a cost-effective way.
However, those who choose to set up franchises typically report that they underestimated the time, complexity and challenges involved. Given that franchises have come under increased scrutiny in recent years for payroll and compliance issues, it is worthwhile to seek expert assistance in setting up your franchise and understanding your obligations.
Effort must be invested in preparing your business for growth, establishing the appropriate franchise structure and determining the ideal order in which to develop and roll out your franchise strategy.
Once established, a successful franchising strategy ensures clear management of third parties to maintain product and service consistency, open lines of communication, maintenance of efficient systems and reviews of infrastructure and processes to maintain price competitiveness and achieve compliance.
Why franchise?
Growth
Grow your business faster by accessing external capital
Buying power
Improve your bottom line by securing better rates through strong buying power
Efficient systems
Increase efficiencies with robust, replicable systems
Expansion
Increase sales by increasing the volume of customer services and products
Retention
Improve brand loyalty and recognition by retaining key stakeholders
Robust processes
Secure legacy and appeal to potential buyers with effective business processes
How can we help?
Strategic franchise planning
Development of a franchise transition plan, following a business and systems review, franchise readiness assessment and strategy containing key franchise features.
Franchise modelling
Determining the financial feasibility and optimal financial structure of your integrated franchisor-franchisee financial model through financial analysis of existing business, establishment costs, financial projections and scenario analysis.
Franchise development and governance
Establishment of commercial rules and regulations, compliance success factors, reporting framework and optimal corporate structure for tax and IP protection.
Franchisee recruitment
Development of a clear franchise recruitment strategy and best practice documentation.
Operations planning
Creation of robust operating procedures that encourage compliance and franchisee interaction, including operations manuals, implementation support, and scorecard and dashboard reporting.
Franchise optimisation
Health checks to review existing franchise infrastructure and systems, as well as systems review and selection, HR support, updating documentation and training.
Our experts
Nigel Fischer
Managing Partner Brisbane
Rob McKie
Partner Melbourne
Geoff Thompson
Partner Newcastle and Hunter
