posted on September 09, 2016 12:58
This article appears in the Sep/Oct 2016 issue of Business Franchise Australia & New Zealand
Finding the right business to invest in is a challenge in itself but when it comes to making the final commitment, the more hurdles could prove the better choice.
About half the Beaumont Tiles’ 108 stores are franchises and both parties – the franchisor and the potential franchisee - should undertake plenty of due diligence before joining forces.
It’s not just a matter of buying a franchise and expecting the money to roll in - you are starting a business. A franchisee should understand that the franchisor is only there to provide a brand and system - they are not there to do the work for the franchisee.
On the flip side, the great thing about a franchise is that you are buying into a proven model.
There’s a few business philosophies I’ve learned along the way that can help steer the course.
[Read the rest of this article...]