Quote:
Originally Posted by carolinejane
We have only been here 6 weeks but it is apparant that wages are much lower here than we are used too in the UK. We did know this before we came out and we do appreciate that cost of living is generally lower (with the exception of mortgage loans) but we are now thinking about investing in a franchise where the net profits are more than double an average wage and will be our own business which i can then work around the school hours and holidays,
i was wondering wether anyone else had looked into this or already bought one. We would love advise wether in favour for or against buying a franchise.
Thanks Caroline
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Be very careful............... do your homework and a lot of research before you put pen to paper. There are no doubt plenty arguments for .........and ........ also plenty arguments against the purchase of a franchise?
As a franchise owner............. you have to put up with the good...... and you have to also put up with the bad! You sort of inherit any potential business problems the parent company might have...... for example.......if the parent company is experiencing problems......... it is highly likely same problems will in time trickle down into your establishment.
In my business.............. from time to time one of the larger high profile franchise agencies get exposed on TV .........or in the print media .......re customer's complaints ......... or something untoward which results in adverse criticism ............ coupled with negative publicity.
This is most unfair to other franchised offices as they may operate super efficiently ....... and to a pre-determined code of ethics? It doesn't seem right that they are all tarred with the same brush ........... on account of one erring branch office?
I have been approached by Ray White....... and also Reimax ....... on a regular basis .......... both offering to explain to me the advantages of me ceasing to be an independent operator ........... to go and start trading under their respective umbrella. Thank you Mr White ........ thank you Reimax ........... but NO THANK YOU!...... I'm quite okay as is.
Obviously my profile would be lifted were I to take up their offer......... and there is no doubt ........I would probably benefit immensely from their blanket saturation corporate advertising coverage.......... but do I really need all that? I seem to be managing okay just doing my own thing.......... I believe strongly in maintaining REIWA membership even though it isn't compulsory........... I'm quite content to continue as an independent operator.
A huge benefit of owning a franchise .........is that all concerned within the group should in unison strive towards success. a common goal. A good franchise business will already have in place........ an entire corporate management team .......... whose purpose is to ensure total success of the franchise as a whole?
When researching a franchise opportunity......... pay extra attention to details provided re support structure offered by Head Office ......... and pay attention to the way in which various franchise owners work together. Despite my misgivings re me joining a franchise................ don't let me put you off same..... but please....... don't rush into it. Do a thorough job with your research........ explore all possibilities ...... after which I'm sure you can find a great franchise business which will provide a profitable and fulfilling future.
I do sell businesses as well as houses........ and I have seen several people get their fingers burned and reach financial ruin............ simply because they paid scant regard to due diligence.
If you are interested I currently have an easily run family business on my books........... you will however need previous retail experience as purchase of same has to be subject to Shopping Centre Management Approval of new owners ....... and landlord approval re taking over lease?
