If you're in the market for a franchise for sale, now might be the time to take inspiration from some of Australia's recent success stories. At the recent International Franchise Association's (IFA) NextGen in Franchising Global Competition, two of our local businesses have joined 18 other major winners, a testament to the strength of the sector in this country.
Jai Hobbs, Co-Founder Paleo Cafe, and Jacob Foster, Managing Director FCF Fire and Electrical, picked up awards at the prestigious ceremony, open to any entrepreneurs who have been in their business for between one and five years. Speaking to Business Franchise Australia about the success, Franchise Council of Australia Chairman Michael Paul was enthusiastic about the experience the pair will bring home with them.
"The competition has proven a huge success, and allows winners to discuss new concepts and innovative ways of thinking to take franchising into the future and ensure the sector in Australia continues to flourish," he said.
How to pick a winning franchise
Australia is home to a fantastic range of franchise opportunities, so deciding the right option for you isn't always easy. When you're looking for an enjoyable and profitable business for sale to align yourself with, considering an industry you already have some understanding of is a good start.
Paying attention to how other franchises under the same banner operate, as well as any competition, can also help you to make your decision. If a particular business has an effective marketing strategy already in place, then much of that burden could be taken off your hands as a franchisee.
For example, if you are investigating a cafe for sale and find that they have an existing loyalty program at other outlets, by attaching yourself to that offering you may already have an edge over the competition in your area. These kinds of details can add up to greater success in a business, so be sure to carry out plenty of research.