With the current economic situation our country faces, more and more individuals are turning to self employment as means of earning a living. Purchasing a franchise as a way to self employment is considered by many people.
The number of businesses looking to expand by the franchise route has grown considerably in the recent years and thus there is a huge choice of different franchises to consider for the potential franchisee. Many business individuals prefer buying a franchise instead of starting from scratch because of a number of reasons.
The first and the most obvious advantage of buying a franchise is that the business is already a tried and tested model. This means that this has been rolled out in many geographical areas of the country, so you have evidence that the model is successful.
Secondly, your franchisor will provide you with great deals of help, especially through the start up phase of the business, when most businesses fail in the first eighteen months. Therefore, help at this stage can be crucial.
In addition, you can also benefit from the reputation of the brand and from any national marketing campaigns which are run. When you buy a franchise that is well known nationwide, marketing your business would be a lot easier on your end since your brand is already well known.
To learn more about franchising in Australia, check this out: https://www.accc.gov.au/business/franchising