If you’re looking for a business opportunity a question which might come up in your mind is, ‘do I go it alone as an independent operator or do I join a franchise’?
This is one of the first and most important questions you need to answer in your due diligence when deciding to go into business for yourself as it sets the direction for the many hours you are likely to spend assessing various opportunities.
A sound franchise system, whilst not removing your responsibility for the success of the business and the resultant bottom line, should take away much of the constant need to be across so many different aspects of the business. For example, things like operational systems, marketing, product development, training and ongoing field support should all be in place. This removes the guesswork and the need for you to spend countless additional hours creating this yourself.
As an independent operator you are required to be the ‘go to’ person for all strategic and operational aspects of your business. This can become a serious drain on your energy and ability to spread yourself across all the various business elements needing your attention.
If you eventually choose a franchise you will be in strong company. Following are a few facts about the sector reported during a regular biannual study.
Franchising Australia 2014 reveals: (Courtesy Franchising Council of Australia website)
- There were approximately 1160 business format franchisors in Australia in 2014, compared with 1180 in 2012.
- There are an estimated 79 000 units operating in business format franchises, reflecting an increase of 8.2 percent since 2012.
- More than 460 000 people are employed directly in franchising.
- Sales turnover of the entire franchising sector was estimated at $144 billion.
- 86 percent of franchise systems originated in Australia.
- Some 30 percent of franchisors have entered international markets.
- Only 1.5 percent of franchisees were involved in a substantial dispute with a franchisor over the past twelve months.
- 45 percent of franchise systems engage in online sales with customers.
I encourage you to consider Sleepy’s as a future for yourself and your family.
National Franchise Manager
0434 254 154