Making the decision whether or not to start a franchise can be difficult, especially since there are many things that must be considered and decided upon before you can even begin. How much start up capital is needed? What type of training development and workshops are needed?
Business development choices, such as finances, location, branding and quality assurance are just a few of the big and sometimes confusing decisions to make, which can often lead to business failure if not
dealt with accordingly.
On top of that finding the right expert, the right legal team, or the right franchisor advisor, can be a frustrating process – especially when you never had to find one before and wouldn’t know where to
start.
Here are some helpful tips on how to find the right expert franchise advice for you:
Utilise Online Business Directories
The internet might seem like the most obvious but it one of the best tools to utilise when it comes to sourcing expert franchise advice. Online franchise directories – such as FranchiseBusiness.com.au – provides a database 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 from any expert on FranchiseBusiness.com.au.
Not only are most online franchise directories reliable and easy to use, they also allow you to search for the type of service you are specifically looking for. The directories then let you compare the businesses you have found by price or by services to help you decide which is best for you.
Subscribe to Franchise Business Magazines
Industry publications like the Franchising Magazine offer independent editorial coverage of the latest in franchising opportunities, trends and topics affecting both franchisees and franchisors. Subscribing
to such publications will ensure you keep abreast of the latest information in the sector you are interested in – and also are filled with contacts that may also provide you with expert consultation services and advice on your situation.
Ask an Association
When thinking about starting a franchise you will need to find a good legal team, financial team, and if possible, a good franchise advisor. These experts can help you figure out whether you’re ready to take the big step into the franchising world, and if not, they can help you plan and reach your goals.
Associations, such as The Franchise Council of Australia, are great places to start when it comes to searching for expert advice. These associations will usually refer the experts to you. They are dedicated in helping both current franchise business owners and start-up business entrepreneurs.
Visit Franchising Expos
What better way to find free advice than going straight to the source? Franchising & Business Opportunities Expos provide you with a great opportunity to network with fellow franchisors, scope out the competition and source out franchising experts for advice.
Franchising exhibitions and conventions are held throughout the year. They feature both franchisors and franchisees from hundreds of different businesses, free seminars and free legal and financial advice services. Even if you are unable to get your specific legal or financial question answered the franchisor or franchisee you are talking to will be able to point you in the right direction and could even refer you to a great franchise advisor, legal team or financial team.
Building a franchise is something that’s not easily done by yourself. There are many factors that go into the decision process in which, without the right advice, things can easily go wrong. Having the right advisors answer your questions will make a difference, especially in making the tough decisions on the direction of your business.
Finding the right expert advisor is important when it comes to deciding whether or not if building a franchise is the right decision for you and your business. Ultimately, the right franchising expert can help steer you towards a successful franchise business.