Brian Keen releases articles of many kinds to the media and through other avenues such as YouTube, Vimeo and Soundcloud. Here are some of the franchise radio recordings that you can browse and listen to.
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.
Professionals and middle management, frustrated with employers they believed were dealing badly with the situation resigned or they were forced out of employment by difficult conditions. Many took redundancies or decided to use savings or investment earnings to take control and move into business believing it would give them more control over life. Certainly, we, the three partners at The Franchise Alliance at that time, saw a significant rise in the number of new people looking to buy their own business.
In the past year or so, there’s been another significant jump in the number of potential franchises which have upped their game, not only in the way they are structured as digital businesses but also in the kind of business involved – slick, simpler niched businesses seem to be the way to go.
Research by the Franchise Relationships Institute shows franchisees who operate multiple units, now generate over 50% of Australian franchise sector revenue. Franchise Relationships predicts this percentage will grow because it gives franchisors a great way to expand the group using people they know and who know them and it gives experienced franchisees in the group a new, challenging way to expand their own business.
Business never stands still does it? Especially today with fast communication systems making us all aware of what is being done by everyone else and using those ideas to build new ones of our own. And the changes and innovations seem to be coming faster and faster each day.
Understand The Basics
First, you will have to concentrate on learning how to deliver the service or product the franchisor’s way. you might be an experienced restaurateur, but if you purchase a franchised restaurant you will have to learn how to manage that outlet their way, a more difficult task if you have habits to unlearn. It is no accident that maccas make prospective franchisees work in one of their restaurants for a year before they are finally accepted.
Over the years I’ve been involved in the franchise sector, I have seen some of the best and the worst on both sides—by the franchisor and by individual franchisees. The best have given us some of the most successful businesses and the worst, some of the most horrific, for everybody.
An interview with Scott Marston from Earworx the other day reminded me just how vital a carefully crafted business structure and systems were for driving business growth.
One way or another you are going to have to bring in some help and, once you have established yourself and your franchisees are gaining business experience, allowing multi-unit franchise owners can become a very successful way to go.
Our quest is to continue to help business owners who want to grow their business into a more valuable asset.
We do this through a number of our enterprises.
Through Franchise Simply® we help business owners who want to grow their business into a more valuable asset through franchising. The team of expert advisors at Franchise Simply® does this this through our simple three step Franchise Success Path which can be delivered in many different ways to suit you. We work closely with our team of leading franchise experts to provide the full range of services to the franchise industry, from carefully crafted legal agreements and operations and procedure manuals, to expert advice on corporate structures, fee structures, territory planning, franchisee support, recruitment and much more…The result - our members implement fast and get everything they need to succeed all in one place. Click here to join our inspiring community of entrepreneurs and you can be our next success story.
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.