Franchise Snapshot – November 2017 Edition

Hope you and business are doing well. Here’s the November 2017 Edition of the Franchise Simply Newsletter

First Things, First

Are You Okay?

I’m sharing this important message from Greg Nathan, founder of Franchise Relationships. “Earlier this week I attended an excellent business breakfast on mental health in franchise networks as part of an Australian initiative called R U OK Day. This is an important topic. As a psychologist who has spent most of his life working in the franchising sector, I can tell you that the gremlins of stress and worry are constant companions to most franchisees and franchisor executives and, if these get out of hand, can cause serious health problems, including the ultimate one — suicide.”

How to Position a Business to Start Franchising

Are you planning for growth through the path of franchising? Watch this from Kochie. Though I and a number of my clients have successfully franchised from concept or very early on and not after the three years suggested here…let me know what you think.

Recent News You Might Enjoy

Guzman Y Gomez Trials Commercial Drone Deliveries

Under the initiative, named Project Wing, Alphabet-owned company X will facilitate the delivery of GYG’s menu and nearly 100 Chemist Warehouse products to households in Royalla, 35km outside of Canberra.

How is Uber Changing the QSR Environment…and Are You Feeling the Effects?

Uber deliveries may seem fantastic for the customer, but what is the business and social reality hiding behind Uber Eats’ the flashy app and feel good brand?

US Franchise Expands to Australia

An American fast food chain will be winging its way here after signing a franchise agreement to open 110 outlets in Australasia. Wingstop Restaurants already has more than 1,000 locations globally and expects to open its first Australian outlet in Brisbane before July 2018.

Global Sports Chain JD Sports is Expanding its Australian Reach in the Face of Tough Retail Numbers

Footwear retailer JD Sports is opening its fifth Australian retail hub in seven months, with the international brand saying it has seen great results, despite broader sales numbers showing spending is flat in the lead-up to Christmas.

Is Your Business the Next Big Thing?

This year’s has closed but is this for you next year? Young entrepreneurs with an emerging business that could become the next hot franchise brand are being encouraged to enter the NextGen in Franchising competition. It’s an opportunity for founders aged 21 to 35, with a business that’s been trading between one and five years and could scale to franchising, to get access to successful entrepreneurs, executives, experts and financiers in the franchise industry.

Some Tips and Insights You May Find of Value

Should franchisors help franchisees do business plans?

I’m a big fan of new franchisees submitting a business plan to you but you need to be cautious as Warren Scott, Mills Oakley & Jacqui Murphy says here. “Sometimes, an inexperienced franchisee may approach a franchisor and ask for assistance creating a business plan. However, it is important for franchisors to understand the risks associated with providing this level of guidance.”

How do you recruit franchisees?

I believe our programs are the best there are to help you recruit franchisees, but this is worth reading. A recruitment program that is focused on bringing in franchisees with the right culture is one way of building a strong franchise network says Steve Simpson. But what does that look like? How do you best recruit franchisees for culture? How do you make culture a driving force for business?

Billionaire Ray Dalio explains how ‘radical truthfulness and transparency’ helped build his business

It’s the same comment from store managers, Regional managers and CEO’s – “we can’t find the right people.” It’s tough but the right people are out there waiting to be found. We have to be open to changing the way we look for these people if what we are getting is not right.

Franchisors, how to handle the cooling-off period

The Franchising Code of Conduct (Code) allows all new franchisees an opportunity to get out of the franchise agreement within seven days of signing it or paying any fee to the franchisor. This cooling-off provision only applies to new franchisees and is not applicable in cases of renewals, extensions or transfers of existing franchises.

Something You Might Want To Read

Justifying Shopping Centre Rent Increases – An Inconvenient Truth

If you’re a retailer then this is a must-read. “How do shopping centre owners press for increases in rents of 4% or 5% pa. when the increase in the $ / sq m. sold through the Centres has been increasing in the range of 0.5% – 1.65% pa. over the last few years?”

The Racing Line Implementation System - Celebrate

Anticipated 2018 is the topic of a brilliant and timely webinar from my respected friend Stewart from Audere. Don’t forget to send me an email at brian@franchisesimply.com.au to let me know if you’re attending and please send me your feedback after the webinar. Put the 8th December 9:00 AM AEDT in your calendar because you don’t want to miss it.

For Your Diary

Our next Kickstart Franchise Training Workshop is on November 18th & 19th.

If you’ve not attended one yet make sure you attend this one. IT’S A MUST!

See what members Kevin Scrimshaw, National Drones, Melbourne and Simon & Sandra Allars, Soothe Mobile Massage, Melbourne had to say.

These workshops are internationally accredited and include points towards the FCA’s CFE program.

These workshops are internationally accredited and include points towards the FCA’s CFE program.

I hope you enjoyed this.

To your success,

FOOTER SIGNATURE

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