All those years ago when I first became involved with franchising, the franchised home service industries were pretty much limited to lawn mowing and cleaning domestic properties. Franchised businesses were concentrated in the bricks and mortar arena. Predominantly retail and food. Why? Because franchisees attracted to these areas had the skills to take on the business management required as well as delivery of the product.
We weren’t surprised when we recently read that the accommodation and food services sector is being hit by a wave of insolvencies. The ABC recently reported that ASIC says more than 1,000 external administrations have been appointed this financial year to March 25 – double the amount from the…
I was not surprised to read the other day that more women at the top in business is better for business. I came across a news item from the Australian Government Workplace Gender Equality Agency (albeit dated June 2020) which showed that:
Recently the Franchise Council of Australia published The State of Franchise Report and we are sure everyone is talking about the results shown which are so encouraging.
We deal with food franchises a lot. Mostly fast food but restaurants as well and over the years we have watched many as they take their journey as a franchise group. It’s exciting. This year though, we are seeing a couple of trends which we think will lead the industry and set some apart from … Read more
These are growth areas in business today and the latest franchise data shows that at least 9% of all franchise groups fall here and I think it is higher because some will fall into the general services or retail categories and not be picked up. Beauty for instance is not categorised separately.
The growth of digital marketing means lead generation and marketing have to be managed by franchisors in most cases. It is too big and specialised a job for most franchisees to take on. Associated with that are other parts of business which are becoming more digitally aligned – communication systems, email, POS tied into a central bookkeeping system – the list goes on.
The franchising industry is concerned about recruiting new franchisees due to various factors such as the COVID-19 pandemic, economic uncertainty, and changing consumer preferences.
Multi-unit franchising, where individual franchisees own multiple units continues to be a significant trend in the franchise sector worldwide
A recent guest on my Franchise Simply Radio Show, Wes Lambert, a hospitality industry expert, told me our monthly spend on the restaurant industry has increased from $4bn per month pre-COVID to $5bn per month today. The hospitality industry is booming. Not everywhere mind you. The CBD is probably not performing so well but with staff choosing to work from home, purchasing up to 5 meals a day (breakfast, mid-morning coffee, lunch, afternoon snack, dinner) the suburbs and regions are definitely flying.
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We believe in giving back and so a percentage of every program is given to MicroLoan Foundation Australia to help women in Southern Saharan Africa to build businesses and take their families out of poverty. To date we have helped provide over 60,000 loans impacting on 355,000 impoverished people.