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3 Top Tips for Getting Started with a Franchise

by Sheri gill

There are over a thousand franchised brands in Australia, many of which have massive public appeal and recognition. Operating a franchise can be an exciting opportunity, allowing you to become part of an existing network of franchisees and reap the benefits therein. But when getting started, it’s crucial you tread carefully to avoid stumbles and be able to respond to challenges and maximise your chances of success. This article offers three top tips for finding and getting started with a franchise, including talking to other franchisees and seeking advice from franchise lawyers.

Talk to Other Franchisees & Ask Questions

Franchisees that are part of an existing network have a wealth of knowledge which they might be willing to share. Talk to them and ask pertinent questions to get a sense of how they operate and give your franchise the best launching pad for success. How long have they been a franchisee? Are they satisfied with the franchisor? Do they get adequate support from the franchisor? What challenges do they face, and how do they respond to them? What does the future hold?

This also gives you the opportunity to connect with your peers and cultivate positive professional relationships that stand you in good stead going forward. Remember, a franchise is a community. You’ll feel more included and supported when you establish lines of communication.

Research & Choose the Right Location

Every real estate agent proclaims that location means everything when buying a house, and the same is true when starting a business – whether it’s part of a franchise or not. The location of a business has a massive impact on its potential for success, so it’s absolutely critical to do extensive research early on. The best location can depend on several factors, including the potential customer base, competitors in the area and other characteristics of the region. 

Seek Advice from Qualified Franchise Lawyers

Franchising is a separate area of business law with its own legislation, often requiring tailored advice. Franchise lawyers are qualified to support both franchisees and franchisors with all aspects of franchising, including documentation, litigation, disputes and more. Whether you’re starting a new franchise or buying an existing one, it’s important to get reliable legal advice to ensure you comply with the Franchising Code, fulfil your obligations, avoid unnecessary issues, and achieve the best possible outcome. A franchise is a significant investment that should be treated seriously, and getting guidance from someone who knows the area well will keep you on the right track.

Get Started Right with the Above Tips

By following the above tips, you’ll have the best chance at getting a good start with a franchise. Always ask questions to arm yourself with knowledge, work on building and maintaining relationships with other franchise owners, participate in ongoing training programs to broaden and strengthen your skills, be aware of your workload to get the most out of you and your team, and make sure you get support from franchise lawyers who know what they’re doing.