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Brian Keen, founder and CEO of Franchise Simply, looks at the current run of bad news about the sector. Starting with the good news about franchising…Figures show the franchise sector continues its decades long history of grossly outstripping Australia’s GDP growth by an embarrassing margin. How does
Current media coverage might indicate that franchising is Australia is in strife, but that’s not the case. Let’s start with the good news about franchising. The franchising industry frequently achieves double-digit annual gains and contributes a vast amount to Australia’s GDP. The sector is a huge support
Choosing franchisees is little different from any normal job selection process. However, finding the right applicant for your business isn’t easy… one well-known hamburger chain is said to interview 100 prospective franchisees for every one appointed. Given this difficulty, it is especially important to have an effective
Advertising is expensive and, next to creating your product, probably the most critical and expensive investment for developing and growing a successful business. You May Have To Sacrifice Equity Some businesses see advertising as their way to growth but I know this is often a gross oversimplification.
It’s long been recognised that newer small businesses run as a sole proprietorship have higher failure rate than many long-established companies. Even larger businesses with long-standing track records for success are sliding into decline. By comparison, the franchise business model offers multiple advantages over other types of
Business owners are wary of ‘systems’, feeling they deprive them of flexibility. However, a system is no more than a repeatable way of doing things to achieve a particular outcome. Properly implemented, systemisation increases productivity and improves profit in businesses of any size and type. Here are
Australia is the world’s most franchised nation on a per-person basis, with three times as many franchises per head compared with the United States, IBISWorld research shows. The appeal of a franchise is clear. On paper, investing in one brings you turnkey convenience twinned with recognition. Still,
Franchising is a $128-billion-a-year business in Australia. Over a thousand franchise brands run across the country, covering every angle from coffee vending to in-home behavioural dog training. On paper, because its structure has been road-tested, a franchise is a money-making machine. In theory, any dropkick can run
On this week’s episode of Red Tent Radio, Ludwina Dautovic interviews Brian Keen who is an expert in business franchising advice and consulting. Australia, April 06,2014/Free-Press-Release.com/ — This week, Red Tent Radio, one of Australia’s leading and most influential radio/podcast shows for small business advice, interviewed the