Australia is a highly urbanised country, with the world’s 14th-largest economy. Its biggest contributor is the service sector, which is responsible for over sixty per cent of its GDP. Most of its businesses are small to medium in scale, each employing less than 200 workers. Still, they serve as the national economy’s backbone, accounting for all but 0.2% of the nation’s employment.
Starting a business in Australia is extremely rewarding, but challenging, even under normal circumstances. A lot of things have to go right for your brand to take off. Still, it can and has been done, as evidenced by the importance of SMEs to Australia’s economy.
If you have plans to penetrate the business landscape, franchising is your highest chance to succeed. The best franchising opportunities in Australia have many advantages, especially for those who have little experience in the business.
Established Trade Name
In franchising, you have your pick from many established trade names, marks, logos, and styles. If you choose to go this route, your business will be no different from the others in the franchise network. This means you do not have to invest much time, effort, and capital in establishing your brand.
Recognised Product or Service
For a new product or service to gain acceptance, it has to earn the trust of consumers. That is why building a reputation takes time, among many others. Franchising offers a quicker way of doing business by giving you access to products or services with existing brand recognition. The important thing to remember is choosing a brand that is performing well in a market that is likely to remain strong for many years.
A Proven Business Strategy
The best franchising opportunities in Australia provide the structure and the detailed process of managing the business. There is a system in place to make sure that you get ongoing guidance and assistance. It is much like having the independence of managing a business of your own with the assurance of a big business network behind you.
Aside from the established business strategy, training is also provided by the franchisor. This ensures that each step is executed as it was intended. It includes the proper use of unique technology if any, financial and personnel management, and skills needed to ensure success from the initial up to ongoing stages of the business.
Higher Rate of Success
Franchising in no way guarantees success, but it offers a much more viable business model than a start-up. The product or service has proven to work in other places and, if planned well, is likely to succeed similarly in your region.
The best franchising opportunities in Australia carry out pilot tests in various areas to ensure the viability of their brand. The franchisor can advise you on which location is best based on these tests. With a higher success rate, it would be easier to secure financing for a franchise than for a start-up of a similar product or service.
The franchisor often takes care of national advertising, which will ensure ongoing exposure of your brand. Local advertising will be up to you, but you will be given a set of guidelines and materials to protect the image of the franchise.
Choose Your Franchise Wisely
With franchising, success is not guaranteed. But it offers a simple way to get into the business, leaving you more time and energy to focus on the more value-adding aspects of management and a leg up on the competition.