Franchisee Accounts

2 Easy Steps for Preparing a Budget

The first thing that my franchisor asked me for was a budget and I hadn’t even signed the franchise agreement yet. Budgeting is one of the hardest things you will be required to do, yet once you have done your first budget, it is very easy to update this budget every year, year after year. As always the hardest step is the first step, in my experience I have also learned to KISS it – “keep it simple sweetheart”. 1. […]

Hiring Franchisees

9 Ways to Manage Your Employees

Employee management is one of the most frustrating and time-consuming parts of your franchised business.  Being an employer requires you to adhere to workplace legislation.  It is quite in depth and the onus is always on the employer to get it right.  The penalties are staggering. Here are nine ways that the Franchisor helps you, the franchisee, to be an employer. Employee Induction Process – inducting employees into your business is a process that is very detailed and required by […]

Franchise mentor

An EOFY Review for Your Business

Phew it is over, the financial year, but wait, a new one has begun. When I finished my first financial year in business, I felt a sense of achievement. I felt I could really do this franchising gig. I started to rest and relax, but I soon realised that as a franchisee, you had to be on top of your business all the time. You had to know where you had been and where you were going so that you […]

Questions franchisees

5 Steps For Buying a Franchise

Buying a Franchise is an exciting but confusing journey.  What most people don’t know is that the franchising industry is governed by the Australian Competition and Consumer Commission (ACCC).  There is a code of conduct by which both franchisors and Franchisees must abide.  This is why there is a certain security when buying a Franchise.  This code of conduct also quite clearly outlines the buying process which must be adhered to by all franchisors. It is a four step process, […]