Deciding whether or not to start a franchise can be a difficult decision to make. There are many things that must be thought through and decided upon before you even begin.
Business development decisions such as how much start up capital is needed, what type of training development and workshops are needed, finances, location, branding and quality assurance, just to name a few, are big and sometimes confusing decisions to make and can often lead to business failure if not dealt with accordingly.
Finding the right expert – the right legal team or franchise advisor – can be a frustrating process, especially if you’ve never had to find one before or if you don’t know where to start looking. With that in mind, here are some helpful tips on how to find expert franchise advice.
Online business directories
It may seem obvious, but the internet is one of the best tools to use when it comes to sourcing expert advice. Online directories – specifically franchise directories such as FranchiseBusiness.com.au – can help you search for hundreds of franchise experts in Australia and also features an online ‘Ask the Expert’ forum where you can seek free advice for business, financial and legal matters.
Not only are most online directories reliable and easy to use, but they allow you to search for the type of service you are specifically looking for and then compare the businesses you’ve found either by price or even by what services they provide to help decide which is best for you.
Another great place to look for expert advice is to search for the franchise associations such as The Franchise Council of Australia. These associations are dedicated to helping both current franchise business owners and start up businesses.
More often than not, associations will refer experts to you. When thinking about starting a franchise you will need to find a good legal team, financial team and if possible a good franchise advisor that will help you figure out whether you’re ready to take the big step into the franchising world.
What better way to find great free advice than to go straight to the source? Franchising expos are not only great to find expert advice but it’s also a great opportunity to network with fellow franchisers and scope out the competition.
Franchise expos are held throughout the year. Although they may not be able to help you with specific legal or financial questions they will be able to point you in the right direction and maybe even refer you to a great franchise advisor, legal team or financial team.
Building a franchise by yourself is not something that can be easily done. There are so many factors that go into the decision process, and without the right advisors, things can go horrible wrong. The right advisors will answer your questions, help you make the tough decisions, and ultimately steer you towards a successful franchise business.
Finding the right expert advisor for you is important when it comes to deciding if building a franchise is the right decision for you and your business.