Most people who inquire about franchise business opportunities are in a state of flux about their working life, career direction or business investment options. There are many that people consider, such as:
- Lack of satisfaction or opportunity for growth in their current job versus security of employment
- Is my current occupation/job fulfilling my needs for personal growth?
- Does my current role offer the prospect for meeting my goals for income generation and security in the future to provide for me and my family's needs long-term?
- Do I want to be in business for myself and do I have the confidence to go it alone?
- Do I have the ability to build a business concept from scratch?
- What are the risks or benefits in buying an existing business?
In evaluating issues such as those above, many come to see the franchise sector as offering opportunities with proven business systems, defined investment, coupled with training, support and marketing. There are, however, over 1200 franchise systems operating in Australia, with varied levels of success and development. The quality of training, support from the franchisor, brand marketing, their unique selling proposition or intellectual property that provides any competitive advantage, and, critically, the satisfaction of the franchisees within the system – are all factors to be evaluated.