Accelerate your growth with less capital. Franchising can quickly transform you into a multi-location enterprise. It’s a popular way to inject much needed growth capital and spread risk. Your expanded business network offers admin and core efficiencies too. Franchisees share a stake in your success, so they have a business owners’ drive. Maybe Franchising is right for you.
THE FRANCHISE ADVANTAGE
Franchising requires less capital than other growth models. In fact, a well-structured Franchise could swiftly transform your business or idea into a broad network. A well-thought-out Franchise structure keeps standards high, wherever your goods or services are sold. Plus, because Franchisees are business owners too, their success commitment goes well beyond employees’. That’s not the only good news … other benefits of Franchise growth include:
- Higher chance of success than going it alone,
- Greater buying power, which it good for margins,
- More money to spend on advertising and promotion,
- Sales, fees and royalties create new revenue streams,
- More customers support recognised, growing brands.
Attracting new Franchisees is all in the offer. Most people are understandably cautious about buying into a business and in particular a franchised business. So you must know the value you provide franchisees and communicate it well. Ultimately, Franchisees are the lifeblood of your business. It’s their urge to flourish and grow that will drive your business expansion.
Before you start selling territory, there’s a fair bit to get organised. Because we do this all the time, Naked Consulting has peeled back the process to our own four-step formula. Actually, our advisers have helped launch some of Australia’s best known Franchises. So we’ve got the know-how and experience to create a unique offer and get you noticed in a crowded franchise market. We’ll make sure your offer:
- Is well-researched and tested,
- Appeals to the right people,
- Attracts high levels of enquiry,
- Keeps acquisition costs down.
Make your offer desirable enough and potential Franchisees will be lining up to buy into your business. How do you make that happen? This is our approach:
Step 1 – Focus
View prospective Franchisees as a new customer segment. Get to know them well so a compelling offer can be presented.
Step 2 – Value
Know the business’ strong suit. What are the business hallmarks and how might Franchisees perceive their value?
Step 3 – Control
Structure the Franchise with a clear chain of command. Franchisees need some autonomy, but you need enough control to make it work.
Step 4 – Communicate
Time to put the offer out there. A winning pitch, credible numbers and a resilient structure will draw genuine, qualified interest.
YOUR QUESTIONS ANSWERED
- How do I create a Franchise business?
A basic Franchise is simple. It’s just a license between two parties. But most people want to buy a well structured Franchise so it’s important to develop procedures, training, incentives, support and so on.
- What are the benefits of Franchising?
There are two big reasons to Franchise. 1. Drawing in motivated people to help build your business. 2. Gaining growth capital without selling shares or borrowing funds.
- Is Franchising right for my business?
The answer to this is really in the benefits. If you can’t match or better the growth potential using another business model, a Franchise might be the answer.
- How long does Franchising take?
Naked Consulting structure Franchises all the time. So we have a formula and we know it works. Depending on how much help you need, that could take from 2-5 months.
- How are Franchise fees and royalties set?
Franchise charges depend on many variables. Levels should be consistent with other industry franchises and take into account business establishment and potential ROI.
Franchisees are ready and willing to buy into a high quality businesses. That’s why Naked Consulting put such emphasis on getting the structure and operation of your Franchise right from the start. So you achieve that expansion goal and create a network capable of sustaining further growth.
Time and intelligence are two commodities in short supply. That makes Naked Consulting services very good value. Our straightforward approach comes with experience and proven results. Little wonder medium sized and small business in Sydney, Perth, Adelaide Brisbane, Canberra and Melbourne use us for:
- Robust Business Planning and Strategy,
- Reliable Capital Raising and Venture Capital,
- Angel Investment, as a lending alternative,
- Help with establishing Franchise networks,
- Advice on expanding into a global business.
Most Naked Consulting clients are pretty much like you. Some of them run family businesses they’d like to Franchise. Others are entrepreneurial ideas people. But they all have the same drive and vision: to grow a healthy, successful business. Learn how Naked Consulting can help you achieve that too.
Naked Consulting provides leading consultant services in the areas of Business Planning, Capital Raising for Venture Capital (VC), angel investment or as an alternative to business loans, how to franchise a business and advice on how to grow an international business through global expansion for small business, medium business (SME business) in Melbourne, Sydney, Brisbane Adelaide and Perth – all with proven outcomes.
So if you are an entrepreneur, small business or medium business and looking for advice about business planning, business model, mentoring for small business, how to franchise in Australia, franchise agreements, business angels, securing venture capital, private equity or international business expansion contact us today for a friendly and confidential chat.