There is no doubt that the franchise sector has taken a big hit during the Covid-19 pandemic. However, the resilience of franchising as a business concept to survive in uncertain times cannot be underestimated. As the economy slowly returns to normality, there is opportunities out there for those who are prepared to take ownership and control of their lives.
Starting your own business may ensure that you direct your own fate, but it still presents its own challenges as you look to navigate the world of small business ownership alone. In an environment where there are more and more businesses and getting a differentiated business in a crowded market is a real challenge. Therefore, taking hold of the future by buying into a franchise network is an exciting proposition.
As a franchisee, you are in business for yourself, but not by yourself, with the support and established systems of the franchise brand behind you. With the right franchise, 2021 can be the perfect time to make your business ownership dreams come true through franchising.
Franchisees find success through economies of scale. Franchising allows you to scale a business faster and more efficiently. Franchising is a highly successful model, because it utilises the collective knowledge and experience that moves everyone in that franchise concept in a positive and profitable business direction by pooling purchasing power, marketing together to advertise a consistence message and consistency in providing a quality customer experience. This is the advantage that franchise concepts have over independent businesses that offer the same product or service.
So, before you leap into franchising you need to understand the practical consideration, read the article below to get an understanding of what you should be considering: https://manookiansolicitors.wixsite.com/rmsolicitors/post/checklist-for-buying-a-franchise-in-2020-practical-considerations
Contact Rostom Manookian at Manookian Solicitors on 0416 716 960 or email us direct at rostom@manookiansolicitors.com to speak to a specialist franchise and business lawyer who can assist you with your enquiries and on your proposed purchase of an existing franchise business or a new franchise or business venture. We offer fixed fee legal services that will give you certainty and clarity and ensure that there will not be any hidden costs or surprises.